Glossary of Real Estate Terms (br-by)

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

Brownstone

• A vintage row house constructed of red sandstone.
  

Buffer strip

• A parcel of land that separates two or more properties.
  

Building and loan association

• An organization that raises money to helps its members purchase real estate or construct a building.
  

Building code

• A comprehensive set of laws that controls the construction or remodeling of a home or other structure.
  

Building inspector

• A city or county employee who enforces the building code and ensures that work is correctly performed.
  

Building moratorium

• A halt on home construction to slow the rate of development.
  

Building paper

• A thick, water-resistant paper that serves as insulation.
  

Building permit

• A permit issued by a local government agency that allows the construction of home or renovation of a house.
  

Builder upgrades

• Extra house features or better finishing materials that a builder offers.
  

Building line or setback

• Guidelines that limit how close an owner can build to the street or an adjacent property.
  

Building restrictions

• Regulations that limit the manner in which property can be used.
  

Built-ins Appliances

• or other items that are framed into a home or permanently attached.
  

Bulkhead

• A retaining wall designed to hold back water from the ocean or another body of water.
  

Bundle of rights

• The various interests or rights an owner has in a property.
  

Bungalow

• A small one-story house or cottage.
  

Butterfly roof

• A roof formed by two gables that dip in the middle to resemble a butterfly's wings.
  

Buy-down mortgage

• A home loan in which the lender receives a premium as an inducement to reduce the interest rate during the early years of the mortgage.
  

Buyer broker

• A real estate broker who exclusively represents the buyer's interests in a transaction and whose commission is paid by the buyer rather than the seller.
  

Buyer's market

• A slow real estate market in which buyers have the advantage.
  

Buyer's remorse

• An emotion felt by first-time homebuyers after signing a sales contract or closing the purchase of a house.
  

Bylaws

• The rules and regulations that a homeowners association or corporation adopts to govern activities.