Good Bones

Definition

Real estate code for "the house is ugly, possibly condemned, but the foundation hasn't crumbled yet, so there's hope." It's the property equivalent of saying someone has a great personality.

Example Usage

"The agent said it had good bones. I said so does a skeleton, and I wouldn't mortgage one of those either." - A skeptical buyer

Related Terms

Beginner

distressed property

Real estate euphemism for a building that's either foreclosed, about to be foreclosed, or looks like it should be condemned. The fixer-upper's troubled cousin who really needs an intervention.

🏠 Real Estate

Intermediate

setback requirements

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.

🏠 Real Estate

Beginner

commission

The beautiful moment when someone gets paid a percentage for making something happen, whether that's selling a house, brokering a deal, or convincing someone to buy timeshares. It's the financial incentive that turns salespeople into your new best friend until the contract is signed. In real estate, it's typically the 5-6% that makes agents answer your calls at 9 PM.

🏠 Real Estate

Intermediate

tenant improvement allowance

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.

🏠 Real Estate

Intermediate

grant deed

A deed conveying property with implied warranties that the grantor owns the property and hasn't already sold it to someone else. The 'I'm pretty sure this is mine to sell' document.

🏠 Real Estate

Beginner

title

The legal proof that you actually own a property, as opposed to just living there and hoping no one notices. It's the document (or more often, the abstract concept) that gives you the right to sell, modify, or otherwise lord over your real estate kingdom. Title issues are the stuff of homebuyer nightmares—turns out someone's great-uncle from 1847 might still have a claim to your kitchen.

🏠 Real Estate

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rotg

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