Terms with Category Real Estate
- Upside-down — Definition,
- A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property purchased with the loan. See also "Depreciation."
- Upzoning — Definition,
- The process, often controversial, of changing the zoning in an area, usually to allow greater density or commercial use. Sometimes the term is used to mean the opposite -- changing the zoning in a broad area to limit growth and density.
- Useful Life — Definition,
- The number of years depreciable business property is expected to be productive and in use.
- Valuation — Definition,
- The estimation of a property's price value through an appraisal.
- The process of finding the worth of an asset or business.
- Vendor — Definition,
- The seller of a property.
- Vendor Take Back — Definition,
- Where the seller of the property provides all or some of the financing in order to sell the property.
- Walk-through — Definition,
- A buyer's final inspection of a property, usually on the day of closing or the day before.
- Warranty — Definition,
- A document certifying clear title to a property.
- A guarantee from a dealer or a manufacturer that a vehicle or product will perform as expected or specified. An auto warranty usually covers specified mechanical problems for a set number of kilometers or period.
- Zoning — Definition,
- Areas within a city limits in which certain types of land uses are allowed. For example, a zoning ordinance might permit houses but not factories in a neighbourhood.
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