| Early occupancy |
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| The condition in which buyers can occupy the property before the sale is completed. |
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| Earnest money |
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| Money a buyer gives with an offer to purchase a property. Also called a deposit. |
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| Earthquake insurance |
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| A policy that provides coverage against damage to a home from an earthquake. |
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| Easement |
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| A right given to a third party to use a portion of the property for certain purposes, such as power lines or water mains. |
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| Eaves |
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| The projecting overhang at the lower edge of a roof. |
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| Effective age |
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| The age of a structure estimated by its condition rather than its actual age. |
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| Effective gross income |
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| Additional income that a lender considers when assessing the loan application of a potential borrower. |
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| Electric service panel |
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| A panel that transfers power from the utility line into a house to be distributed through fuses or circuit breakers. |
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| Elevations |
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| The exterior view of a home design that shows the position of the house relative to the grade of the land. |
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| Ell |
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| An extension or wing of a house that is at right angles to the main structure. |
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| Eminent domain |
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| The government's right to condemn private land for public use, such as the routing of a public highway. |
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| Employer-assisted housing |
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| Programs which help employees purchase homes through special plans developed with lenders. |
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| Empty nesters |
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| Potential buyers who have raised their families and want to move into a smaller home. |
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| Encroachment |
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| Fences or other structures that extend into the property of another owner. |
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| Encumbrance |
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| A claim or lien on a property which complicates the title process. |
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| End loan |
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| The conversion from a construction loan to permanent financing a condominium buyer secures after all units in a project have been completed. |
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| Endorser |
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| A person who signs over ownership of property to another party. |
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| English Tudor style |
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| An architectural design that features stone or brick exterior walls and exposed beams. |
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| Environmental impact statement |
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| A government-mandated evaluation of all aspects and effects a development will have on the environment of a proposed site. |
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| Environmentally friendly home construction |
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| A method of construction that utilizes recycled materials. |
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| Equal Credit Opportunity Act. |
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| A federal law that prohibits a lender or other creditor from refusing to grant credit based on the applicant's sex, marital status, race, religion, national origin or age. The law also prohibits a creditor from refusing to grant credit because the applica |
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| Equifax |
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| Equifax Credit Information Services, Inc., is one of the "Big Three" credit-reporting bureaus that operate nationwide. Address: P.O. Box 740249, Atlanta, GA 30374. |
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| Equity |
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| A determination of the value of a property after existing liens are deducted. |
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| Errors and omissions insurance |
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| A policy that pays for any mistakes a builder or architect makes in a project. |
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| Escrow |
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| A neutral third party holds the documents and money involved in a real estate transaction and ensures that all conditions of a sale are met.. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower |
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| Escrow account |
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| An account that a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account. |
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| Escrow agent |
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| A neutral third party who ensures that all conditions of a real estate transaction are met. |
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| Escrow analysis |
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| A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and insurance. |
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| Escrow closing |
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| Escrow closes when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer. |
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| Escrow company |
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| Firms that act as neutral third parties to ensure that all conditions that the buyer, seller and lender establish in a real estate transaction are met. |
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| Escrow payment |
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| Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance. |
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| Estate |
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| The total assets of a person, including real property, at the time of death. |
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| Eviction |
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| A legal procedure to remove a tenant for reasons including failure to pay rent. |
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| Examination of title |
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| An inspection by a title company of public records and other documents to determine the chain of ownership of a property. |
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| Excavation |
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| The process of clearing trees, removing topsoil and grading land before the foundation is laid. |
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| Exclusive listing |
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| A contract that gives an agent the exclusive right to market a property for a specific period of time. |
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| Executor |
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| A person appointed to carry out the instructions in a will. If there is no will, a probate court will appoint an executor. |
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| Exhaust fan |
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| Ventilating devices that remove water vapor, undesired smells or smoke. |
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| Experian |
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| Experian, formerly known as TRW Information Systems & Services, is one of the "Big Three" credit-reporting bureaus.. Address: 505 City Parkway West, Orange, CA 92868. |
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