plate in a fireplace that allows smoke and fumes to travel up the chimney's
|days on the market|
The period of time a property is listed for sale prior to being
sold or taken off the market.
that requires a key to open from the outside and a turn button from the
Any amount one
person owes to another.
|debt assumption letter|
The formal transfer of debt from one party to another, backed by a
contract of assumption signed by both parties. Also known as assignment of
floored area that adjoins a house.
An amount of money supplied by the seller and held in escrow for
the buyer, to be applied toward negotiated decorating changes.
document that transfers ownership of a piece of property.
|deed of trust|
document that gives a lender the right to foreclose on a piece of property if
the borrower defaults on the loan.
|deep-seal floor drain|
A drain used to dispose of water from the basement floor to a sewer
to fulfill a duty or discharge an obligation, such as making monthly mortgage
Any repair or maintenance of a piece of property that has been
postponed, resulting in a decline in property value.
mortgage that involves a borrower who is behind on payments. If the borrower
cannot bring the payments up to date within a specified number of days, the
lender may begin foreclosure proceedings.
analysis of soil to determine if the surface can support the foundation of a
rectangular blocks that project from a building, usually under cornices or along
by the buyer with an offer to purchase property. Also called earnest
decline in value of a piece of property.
project in which the owner contracts directly with an individual or company to
perform design and construction.
architects, designers are limited to drawing blueprints.
that are incorporated into house listings to give potential buyers a view of the
which show the layout of a house but are less detailed than full
Single pieces of lumber sawed to standard
A light switch
that controls the brightness of one or more lights. Most allow a full range of
control from full off to full on.
a slight dent with a light blow of a hammer when driving a nail. This technique
is typically used when hanging drywall to provide a tiny pocket for receiving
of the water supply line into a storage tank. This delivers water close to the
heat source on the bottom of a water heater.
An insurance policy that covers an individual's ability to produce
statement to a potential buyer listing information relevant to a piece of
property, such as the presence of radon or lead paint.
that a borrower pays when the lender makes the loan, to get a lower interest
rate. Lenders offer various rate/point combinations, and borrowers pay points to
adjust the interest rate to the market rate. One point equals one percent of the
Property that is in poor physical or financial
document needs list
A list of documents a lender requires from a potential borrower
submitting a loan application. The required documents range from paycheck stubs
to credit card statements.
A fee charged by the settlement agent (escrow company or attorney)
to ready the necessary paperwork for closing.
hemispherical ceiling that projects upward without support.
primary or permanent home.
A window set
upright in a sloping roof.
window that consists of two sashes that slide up and down.
Joints that lock two pieces of wood together with meshed
A length of
wood that is round in profile and made of hardwood (round lengths of softwood
are called rounds).
piece of a wooden dowel typically fitted into a counterbored hole to hide the
head of a screw.
difference between purchase price and the portion of the purchase price financed
by a lender. Most lenders require that the down payment come from the buyer's
own funds, but may also allow gifts from relatives.
gutter that empties water from the roof to the ground.
called a snake. A long, coiled-wire tool that you can unwind and push into a
drain line to free a clog.
round metal trim that fits into the hole at the bottom of a sink or bathtub. The
stopper or pop-up fits into this flange to retain water in the sink or
used to drain a water storage tank in order to perform maintenance or
A system of
gutters and drainpipes that carry water away from the foundation of a
Part of a
home's plumbing system that carries waste to the sewer or septic system. Most
residential drainpipes are from 1˝ to 4 inches in diameter.
A payment made
to subcontractors or suppliers from a construction loan.
strips of metal flashing that are designed to protect the eaves from water
damage. With an L-shaped profile, they tuck under the first course of shingles
and extend down over the fascia.
in the service conductor that minimizes the chance of water
flat ceiling built lower than the original ceiling.
decay that causes wood to become brittle and crumble.
construction material composed of gypsum or plaster wrapped in paper and
produced in large sheets that can be nailed to wall studs.
relationship in which a real estate agent or broker represents both parties in a
who represents both the buyer and the seller in a transaction. Some states
require strict disclosure of this arrangement to
metal or flexible insulated tube, designed to deliver air to and from a furnace
or other air-handling unit.
Any kind of pipe
or channel that carries water, wiring, or conditioned air through a
A system of
large tubes, pipes, or channels (ducts) designed to deliver air to and from a
furnace or other air-handling unit.
Standard language in a mortgage which states that the loan must be
paid when a house is sold.
that consists of two separate family units.
electrical outlet that accepts two lighting or appliance
Dutch colonial style
A design that features a barn-like gambrel roof, a ground-level
front porch, and dormers.