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

contingent financing clause

A contract provision allowing buyers to back out if they can't secure a loan, essentially making the deal conditional on a bank's approval. It's the escape hatch that makes sellers nervous and buyers sleep better at night.

🏠 Real Estate

Intermediate

Multiple Offers

The seller's way of telling you that your offer has competition, which may or may not be real but will definitely make you panic and overbid. It's the real estate equivalent of "other people are looking at this item right now."

🏠 Real Estate

Advanced

reconveyance

The transfer of property title from a lender back to the borrower upon full loan repayment, most common with trust deeds. The ceremonial return of your property's soul after years of mortgage servitude.

🏠 Real Estate

Beginner

Home Owners Association (HOA)

An organization collecting monthly fees to maintain common areas and judge your life choices with shocking authority.

🏠 Real Estate

Beginner

Inspection

A detailed examination of a property by a professional to find all the problems the owner conveniently forgot to mention.

🏠 Real Estate

Advanced

air rights

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.

🏠 Real Estate

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Intermediate

Commercial Real Estate

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