Corrective Work
Definition
- Repairs (or maintenance) that are requested by a buyer that must be completed before closing the sale.
Synonyms
quick fixes, repairs, final touches
Related Terms and Acronyms
- Closing — Definition,
- In real estate, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes a real estate transaction.
- Curable Defect — Definition,
- A problem with a property that can be remedied. Peeling paint is a curable defect, but location in a crime-ridden neighbourhood is not.
- Home Inspection — Definition,
- A thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Home Warranty — Definition,
- A policy that guarantees workmanship on construction of a home and functionality of some appliances, and which pays for repairs for a specified period.
