Glossary of Real Estate Terms (bl-br)

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

Blind nailing

• Nails driven into a wall and concealed with putty.
  

Blue-ribbon condition

• A house maintained close to its original condition. Also called mint condition.
  

Blue sky laws

• Regulations on the sale of securities to prevent consumers from investing in fraudulent or high-risk companies without being informed of the risks.
  

Board-and-batten siding

• Siding is composed of 8- to 12-inch wide wooden boards nailed vertically to create a barn-like exterior.

Board foot

• Measurement of lumber that is the equivalent of 144 cubic inches.
  

Board of Equalization

• A state board charged with ensuring that local property taxes are assessed in a uniform manner.
  

Boilerplate Form

• language used in deeds, mortgages and other documents. Details can be added by individual parties.
  

Bona fide

• A legal term that refers to actions or persons that are honest and in good faith.
  

Bond

• An agreement that insures one party against loss by acts or defaults of another party.
  

Book value

• The value of a property as a capital asset based on its cost plus any additions, minus depreciation.
  

Boring test

• An analysis of soil in which holes are bored into the ground and samples are removed.
  

Borough

• A section of a city that has authority over local matters.
  

Borrow

• Sand, gravel or other material used for grading.
  

Borrow pit

• The hole at a site that has been excavated.
  

Boulevard

• A street lined with trees or constructed with a landscaped median.
  

Boundary

• The dividing line between two adjacent properties.
  

Braced framing

• A construction method in two-story homes in which the frame is reinforced with posts and braces.
  

Breach of contract

• The failure to perform provisions of a contractwithout a legal excuse.
  

Breach of covenant

• The failure to obey a legal agreement.
  

Breach of warranty

• A seller's inability to pass clear title to a buyer.
  

Break-even point

• The point in which the owner's rental income matches expenses and debt.
  

Breast height

• The height at which the diameter of a tree is measured: four feet, six inches above the ground.
  

Breezeway

• A roofed passageway with open sides.
  

Brick

• Building material made from clay molded into oblong blocks and fired in a kiln.
  

Bridge loan

• A short-term loan for borrowers who need more time to find permanent financing.
  

Brokerage

• The act of bringing together two or more parties in exchange for a fee or commission.
  

Broker

• A person licensed by the state to deal in real estate.
  

Broom clean

• The ideal condition of a building when it is turned over to an owner or tenant.
  

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