Trying to ake since of all the real estate jargon can be a task within itself. Here are some of the more common definitions.
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When one party fails to live up to the terms and conditions of a contract, without a valid, legal excuse.
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.
Single mortgage that covers more than one real property, i.e. - a house plus the vacant lot next door.
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.