F ix for Fixtures -- Colorado Real Estate Dictionary

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Real Estate Agent with ERA Herman Group Real Estate

F ix for Fixtures -- Colorado Real Estate Dictionary

Colorado Real Estate  Terms -- Use this glossary to make yourself more prepared

I'm really interested in selling my house, but I don't want to sell my chandeliers in the dining room and hallway as they were a gift from my parents.   In most states, including in Colorado, the chandlers would be considered Fixtures and would include with the sale of your house.  Make sure your Realtor exclude these items in your listing agreement; or you could take them down and replace them with other light fixtures.

I was a property description in the MLS, and it said the house was on a Flag Lot, what does this mean?  A Flag lot usually has the configuration of the flag with a longer driveway and the house on the "Flag".  In some areas of the country this type of lot is called a Pipe Stem.

My Realtor in Colorado Springs said that that as a Buyer's Agent she has a Fiduciary Responsibility to me.  What is this?  A Fiduciary Responsibility describes the obligations of a Realtor, which include loyalty, obedience, and full disclosure.  There is a complete description of the responsibilities in the Exclusive right to Buy Document.

My loan on my house is based on a 6 ½ % rate for the duration of the loan, is this a Fixed Rate Mortgage?  Yes, a Fixed Rate Mortgage has a consistent rate for the term of the loan, it will not change.

Why does my builder say that he needs to place the footings below the Frost Line?   Because once footings are below the Frost Line, there shouldn't be movement in them.   The Frost Line will vary in different parts of the Country.

Previous Posts

A is for Agent  

B is for Building Permit  

C is for Clear Title

D is for Duplex

E is for Earnest Money

Resources

The Online Real Estate Database and Directory

Federal Trade Commission

Real Estate Wiki

HGTV

National Association of Realtors

  

 

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www.Kathytorline.com & www.ColoradoSpringsVintageHomes.com

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Rainer
67,383
Dana Couch-Davis
Kendall Haney Realty Group - Memphis, TN
CRS, GRI, ABR, SRES

Very interesting the various things you look for in Colorado.  We have interesting lists here ... rowhouses that look like townhouses are actually considered fee simple homes because they are classified as Single Family Residences.  So much to learn in so many different areas.

Jun 20, 2008 12:28 AM #1
Rainer
19,936
Ray Nelson
Exit Realty Expertise - Fredericksburg, VA

Another term for Flag Lot is Pipestem Lot.  Similar concept, where the long access point is the "pipe stem" and the large rear portion of the lot is the "pipe."  Great post!

Jun 20, 2008 12:28 AM #2
Rainmaker
320,361
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Ray:  Thanks for reading the post and for telling me about another name for Flag lots.   I'll add this when I edit the post.

Jun 20, 2008 12:53 AM #3
Rainmaker
320,361
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Dana:  Thanks for stopping by.   It is definitely interesting how we all use different terms in different parts of the U.S.

Jun 23, 2008 02:04 PM #4
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Rainmaker
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Kathy Torline

Colorado Springs Real Estate Blog 719-287-1049
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