Glossary of Real Estate Terms (ap-aw)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Appreciation

• An increase in the value of a home or other property..
  

Arbitration

• A method of resolving a dispute in which a third party renders a decision.
  

Arbor

• An area shaded by trees, shrubs or vines on a latticework structure.
  

Arch

• A curved structure that supports weight over an area, such as a doorway.
  

Architect

• A licensed professional who designs homes, buildings and other structures.
  

Architectural fees

• The fee an architect charges for services. In general, architects charge for their services by the hour, by the square foot, or by a percentage of the project budget.
  

Arpent

• A French measurement of land equal to .84625 acres.
  

Asbestos

• A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard.
  

As-is condition

• The purchase or sale of a property in its existing condition.
  

Asking price

• A seller's initial price for a property.
  

Assessed value

• A tax assessor's determination of the value of a home in order to calculate a tax base.
  

Assessment

• The estimated value of a piece of real estate or a levy placed on property in addition to taxes.
  

Assessment rolls

• A list of taxable property compiled by the assessor.
  

Assets

• Items of value which include cash, real estate, securities and investments.
  

Assignor

• A person who transfers rights and interests of a property.
  

Assumable mortgage

• A mortgage that can be transferred to another borrower.
  

Assumption clause

• A provision that allows a buyer to take responsibility for the mortgage from a seller.
  

Assumption fee

• A fee the lender charges to process new records for a buyer who assumes an existing loan.
  

Average price

• The price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes.
  

Avigation easement

• An easement over private property near an airport that limits the height of structures and trees.
  

Awning windows

• Single-sash windows that tilt outward and up.