Free Real Estate Vocabulary Flashcards

A method of determining an average by valuing each component based on its relative importance. Example: In a mortgage pool a loan with a $100,000 balance would be valued higher for purposes of averaging than a similar loan with a $10,000 balance.

(1) A dam used to divert water to a pond, mill, or similar use. (2) A device for measuring the flow of water past a given point.

A box set in an irrigation ditch to measure to flow of water. The box (usually of wood or concrete) is open at both ends and contains a measuring device (weir).

A hole or shaft, which is sunk (usually by drilling) into the ground to obtain water, oil, natural gas, etc.

A type of framing in which the studding for each floor rests on a separate sill rather than ground to roof as in balloon framing.

A column containing plumbing lines.

Plaster mixed with water and spread wet over a lath. The plaster dries hard to form the surface of a wall, ceiling, etc.

Lands which, in their normal condition, have wet or spongy soil, such as a marsh or bog.

A structure used for loading and unloading ships. May be constructed, as a dock or pier, or simply a piece of ground prepared for the same use.

An exploration of the possible future circumstances of a potential buyer or borrower. For example: If you were off work for six months, would you lose your home? Useful in determining if you are financially sound enough to face possible future financial reverses.

Old English law. Forty days during which a widow could stay in her husband’s house, rent free, after his death.

A woman who is legally married to a living man.