Real Estate Jargon

By
Real Estate Agent with Team 1st at Keller Williams

Trying to ake since of all the real estate jargon can be a task within itself. Here are some of the more common definitions.

For a complete list visit our website at: Team 1ST 

 Breach of contract

 

When one party fails to live up to the terms and conditions of a contract, without a valid, legal excuse.

 

 

Blockbusting

 

Illegal practice of creating panic selling in a neighborhood for financial gain. Typically exploits racial and religious bias to get homeowners to sell low so the properties can be resold at a mark up.

 

 

Blanket mortgage

 

Single mortgage that covers more than one real property, i.e. - a house plus the vacant lot next door.

 

 

Binder

 

Short purchase contract used in some areas to secure a real estate transaction until a more formal contract can be signed at a later date; usually accompanied by an earnest money deposit.

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