Not sure about the meaning of a particular word when it comes to real estate? This comprehensive dictionary provides you with important definitions for the industry's common and not-so-common terms, acronyms, and slang. Every person working in real estate or planning to buy or sell real estate can benefit by using this free real estate dictionary. The definitions are for general purposes only and should not be used for legal purposes. We disclaim any responsibility for any liability, loss or risk that may be claimed or incurred as a consequence of using this information.

Click on the links to view The Real Estate Dictionary

 

Sales Agreement:
A contract in which a seller agrees to sell and a buyer agrees to buy, under specific terms and conditions specified in writing and signed by both parties. Also known as an Agreement of Sale, Contract of Purchase, or Purchase Agreement according to location or jurisdiction.

Saved Search:
A special ability in My Search to save and name searches for future reference. Saved Searches is a feature for registered, logged on users of this website.

School District:
An area of a town or community that includes a number of public schools administered together.

School Information:
A collection of facts or data about institutions for instruction of children below college age.

School Performance Reviews:
Listing or ranking institutions for instruction of children below college age based on standardized testing, usually on a statewide basis.

School Report:
Information about school districts, such as population and test scores, in your area of interest.

Seller Disclosure:
A document that includes all pertinent information about the physical characteristics, conditions and other factors about the property that influence a buyer's decision.

Seller Representation:
A sales professional agrees to place a seller's interests above all others in the transaction.

Seller's Agent:
A licensed real estate sales professional who represents the seller of real estate.

Seller's Disclosure:
A document that includes all pertinent information about the physical characteristics, conditions and other factors about the property that influence a buyer's decision.

Seller's Market:
Market economy to the seller's advantage. There is a greater supply of buyers than there are home for them to purchase.

Service Provider:
A firm or company that provides one or more settlement services associated with buying or selling real property.

Settlement:
A meeting where the sale of a property is finalized by the buyers and sellers signing certain documents to transfer the title of the property and paying closing costs. Also known as Closing or Closing Day.

Settlement Fee:
Administrative fee charged by the person and/or company that closes the transaction.

Single-Family:
Residential structure intended for use by one family.

Slab Stage:
Building phase between the time that the house is cleared to begin construction and the slab is poured.

Spec Home:
New home where the builder makes most of the decisions about construction before there is a buyer.

Special Assessments:
A tax or levy customarily imposed against only those specific parcels of real estate that benefit from a proposed public improvement like a street or sewer line.

Specific Home Search:
Using elements such as Multiple Listing Service (MLS) number or street address to identify an individual property.

Specifications:
Construction documents that specify what materials, grades and details will be included in a new home.

State Tax Stamp:
Tax charged when title passes from the seller to the buyer.

Status:
A property stage subject to change.

Status Change:
A property stage that has become different. For example, an Active Available property may have a status change to Pending after an offer to purchase is accepted by the buyer and seller.

Steps to Closing:
Stages in a specific progression toward buying or selling a home. Consult your sales professional for information.

Stud:
Upright wood boards inside the walls.

Subdivision Summary:
Information about an area of homes based on local articles, interviews with area residents and historical overviews.

Subflooring:
Plywood used to support the floor.

Survey:
A drawing or map of a property that shows the precise legal boundaries, location of improvements, rights of way, easements and other physical features.

Surveyor:
Professional who performs a survey that determines the location, form and boundaries of property.

Anthony Stokes-Pereira
Direct: (845) 770-2188
Office: (845) 624-8100 Ext: 188 
Email: anthony.stokespereira@prudentialrand.com
NY State Licensed Real Estate Associate, REALTOR-ASSOCIATE®

This post is intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice.

 

Anthony Stokes Pereira

 

 

4 Comments on Real Estate Dictionary Part #17

OCT
19
2008
115,954 Points

Anthony, I have been doing the same as it pertains to title. In a world of so much information, setting our selves apart as credible sources is very important so as to distinguish your services.

Good job

Bo
11:41am • #1
1 Featured Post

Wow... that's great! I am favoriting this blog page and going to use it as a reference because there are a few on here that I don't know!

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle
11:42am • #2
126,899 Points 6 Featured Posts Called Shot Master

Good info, Anthony. Some of these are new to me, too.
11:57am • #3
NOV
01
2008

Anthony informing posts. So few people ever ask or research terms involved throughout the process or what happens to be one of their largest investments.
10:50am • #4


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Anthony Stokes-Pereira - Realtor

Nanuet, NY

More about me…

Better Homes and Gardens Rand Realty

Address: 95 South Middletown Rd, Nanuet, NY, 10954

Office Phone: (845) 624-8100 x 168

Cell Phone: (845) 538-7021

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This blog is dedicated to the Rockland County, NY. Real Estate Market. My Real Estate Blog provides fresh perspective on our market activity. Real Estate is not just about selling or buying properties; it is about communities, people and families. I go above and beyond what is traditionally expected of a REALTOR. I am your source to Rockland County NY Real Estate information. Traditionally, REALTORS were always the people to ask about what was happening in a particular community, since REALTORS are intimately involved in the places they live and work. I love our communities I love the villages, the towns, the schools, the restaurants, the parks, the people! And I know what's going on, because I am connected to the people and places in the communities I serve. So I would like to be your resource for real estate and community information. I will be posting my own analysis of the local real estate market, based on my expertise and experience in these markets, and I'll also be posting information and analysis of local events and happenings. Remember: The relationship between a home buyer or seller and their Realtor is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.


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