Real Estate Glossary
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Full Definition    Absorption rateThe ratio of the number of properties in an a . . .
Full Definition    Abstraction methodThis method of estimating the value of proper . . .
Full Definition    Acceleration clauseA provision in a mortgage that gives the lend . . .
Full Definition    Accessory buildingA building separate from the main structure o . . .
Full Definition    AccretionThe natural growth of a piece of land resulti . . .
Full Definition    Acre43,560 square feet. A measurement of area. . . .
Full Definition    Actual ageThe amount of time that has passed since a bu . . .
Full Definition    Ad val orem taxTaxes assessed based on the value of the land . . .
Full Definition    AddendumA supplement to any document that contains ad . . .
Full Definition    Adjustable-rate mortA type of mortgage where the interest rate va . . .
Full Definition    Adjusted basisThe value of an asset (property or otherwise) . . .
Full Definition    Adjusted sales priceAn opinion of a property's sales price, after . . .
Full Definition    Adjustment dateThe date the interest rate changes on an adju . . .
Full Definition    Aesthetic valueThe additional value a property enjoys based . . .
Full Definition    AffirmationA declaration that a certain set of facts are . . .
Full Definition    Affordability analysA calculation used to determine an individual . . .
Full Definition    AgentA person who has been appointed to act on beh . . .
Full Definition    AmenityAny feature of a property that increases its . . .
Full Definition    American society of An organization of appraisal professionals an . . .
Full Definition    AmortizationThe repayment of a loan through regular perio . . .
Full Definition    Amortization schedulThe breakdown of individual payments througho . . .
Full Definition    Amortization termThe length of time over which an amortized lo . . .
Full Definition    AmperageA measure of electric current describing the . . .
Full Definition    Annual percentage raThe rate of annual interest charged on a loan . . .
Full Definition    AnnuityA sum of money paid at regular intervals, oft . . .
Full Definition    ApplicationA form used to apply for a mortgage loan that . . .
Full Definition    AppraisalA ''defensible'' and carefully documented opi . . .
Full Definition    Appraisal foundationA not-for-profit educational organization est . . .
Full Definition    Appraisal instituteA world-wide organization dedicated to real e . . .
Full Definition    Appraisal principlesThe basic building blocks of the property val . . .
Full Definition    Appraisal reportThe end result of the appraisal process, usua . . .
Full Definition    Appraisal standards An independent board of the APPRAISAL FOUNDAT . . .
Full Definition    Appraised valueAn opinion of the fair market value of a prop . . .
Full Definition    AppraiserAn educated, certified professional with exte . . .
Full Definition    AppreciationThe natural rise in property value due to mar . . .
Full Definition    Arms length transactAny transaction in which the two parties are . . .
Full Definition    Assessed valueThe value of a property according to jurisdic . . .
Full Definition    AssessmentThe function of assigning a value to a proper . . .
Full Definition    Assessment ratioThe comparative relationship of a property's . . .
Full Definition    AssessorThe jurisdictional official who performs the . . .
Full Definition    AssetAny item of value which a person owns. . . .
Full Definition    AssignmentTransfer of ownership of a mortgage - usually . . .
Full Definition    Assumable mortgageA mortgage that can be taken over by the buye . . .
Full Definition    AssumptionWhen a buyer takes over, or "assumes" the sel . . .
Full Definition    Attached housingAny number of houses or other dwellings which . . .




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