Where cozy means tiny and charming means needs work.
A fancy legal term for 'stuff that comes with the property,' particularly easements that transfer with the land rather than staying with the owner. It's the real estate equivalent of 'batteries included,' except it's more like 'right-of-way for your neighbor to cross your lawn included.' Lawyers love using this word to make simple concepts sound sufficiently billable.
A buyer's escape hatch that lets them bail if a property doesn't appraise for the purchase price. The adult version of "I want my money back."
Freelance scouts who hunt for investment properties and tip off investors in exchange for a finder's fee. They're essentially real estate informants who get paid to sniff out deals before they hit the MLS.
Money the landlord provides for the tenant to customize leased space, typically in commercial properties. It's the 'make yourself at home' budget that determines whether you get new carpet or get to keep the previous tenant's questionable design choices.
The legislative process of changing zoning to allow less intensive land use, such as reducing permitted building height or density. It's how existing homeowners pull up the ladder behind them to prevent the neighborhood from changing.
The noble art of physically visiting comparable properties to verify that online photos haven't been taken with a fisheye lens from the ceiling. It's due diligence for agents who don't trust Zillow's measurements or the laws of physics.
The person who professionally determines how much your property is worth, usually arriving at a number that somehow disappoints everyone involved. These valuation wizards combine market data, property inspection, and mathematical formulas to tell you what someone might actually pay for your house—as opposed to what you think it's worth. They're basically the reality check between your dreams and the bank's willingness to lend.
The past-tense acknowledgment that a professional has officially determined your property's market value, often resulting in celebrations or tears depending on whose side you're on. This valuation becomes the gospel truth for lenders deciding how much money they'll actually give you. Getting appraised is like being graded on a test where the questions keep changing based on what your neighbor's house sold for.
A property or deal with unlimited upside potential and minimal apparent risk—usually too good to be true and named after the empty optimism of staring at a cloudless sky. It's what every syndicator claims they're offering before the inevitable thunderstorm.
A property marketing status indicating a listing will be active shortly, used to generate buzz and pre-market the property before it officially hits the MLS. It's the real estate equivalent of a movie trailer, complete with the same level of hype.
The physical structure and materials of a property, as opposed to the land or location. It's what contractors care about and what investors try to look past while focusing on cash flow.
A surveyed map showing property boundaries, lots, streets, and easements in a subdivision, recorded with local authorities. The official drawing that proves your neighbor's fence is definitely on your lawn.
The property rights to use the vertical space above a parcel of land, which can be sold separately from the land itself. In dense cities, this lets you literally monetize thin air by selling the right to build above your property.
Shared expenses for maintaining lobbies, parking lots, landscaping, and other communal spaces in commercial properties, billed proportionally to tenants. Abbreviated as CAM, it's where landlords demonstrate remarkable creativity in defining what counts as 'maintenance.'
A legal claim against a tenant's personal property for unpaid rent, giving landlords leverage beyond strongly worded emails. The grown-up version of keeping your roommate's stuff hostage.
A property combining residential, commercial, and sometimes industrial uses in a single project or neighborhood, embodying new urbanist principles. It's the 'you can live, work, and play here' development model that promises walkability while often delivering overpriced studios above chain restaurants.
A metric unit of land area equal to 100 square meters—basically a tiny plot that real estate developers pretend doesn't matter when calculating density.
Ground Coverage Floor Ratio—the percentage of a lot covered by a building's footprint, regulating density and preserving open space. A municipality's way of preventing you from covering every square inch with structure.
Zoning rules dictating the minimum distance a building must sit from property lines, streets, or other structures, preventing neighbors from building right up to your fence line. It's mandatory personal space for properties.
A market study estimating how long it would take to sell all available properties in a given area at the current sales pace. Real estate developers use this to determine if building 500 new condos will flood the market or fill a genuine need.
A property tax based on the assessed value of real estate, meaning the more your property is worth, the more you pay. Latin for 'according to value,' or as homeowners call it, 'penalty for improvement.'
A final list of minor repairs or incomplete items that need addressing before closing on new construction. It's proof that even 'move-in ready' is aspirational.
Additional cash or property value included in a 1031 exchange to equalize the values being swapped, which unfortunately becomes taxable income. Named perfectly for something that kicks you right in the tax deferral strategy.
Money put down to show a seller you're serious about buying their property, essentially a financial hostage that says 'I mean business.' If you back out without a valid contingency, kiss that money goodbye.