Fixer-upper

Definition

• A house that is sold for less than market value or for a discounted price because it requires significant maintenance or repairs.

Synonyms
repairable, dress up, beautify, spruce up

Acronyms
fxr

Related Terms and Acronyms

• Betterment — Definition,
  • An improvement or replacement that increases a property's value.
• Broom Clean — Definition,
  • Ready to be cleaned and painted. The term does not mean immaculate or spotless or entirely clean.
• 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.
• Curb Appeal — Definition,
  • The look of a house when viewed from the street.
• Investment Property — Definition,
  • Property bought with the hope of it making money.
• Sweat Equity — Definition,
  • The value of the work put into a house by its owner. This can be used in place of a full down payment. Up to and including 50% of a down payment.
• Tear-down Condition — Definition,
  • A house that is bought so it can be razed to make room for a newer house; usually located in a spectacular setting.