The slope of the ground around a house.
BALL COCK VALVE
The valve inside a toilet tank that controls the filling of the tank.
BALLOON MORTGAGE
A mortgage loan in which the monthly payments are not large enough to repay
the loan by the end of the term. So at the end of the term, the remaining
balance comes due in a single large payment.
BALLOON PAYMENT
The final large payment at the end of a balloon mortgage term.
BANKRUPTCY
When a person or business is unable to pay their debts and seeks protection of
the state against creditors. Bankruptcies remain on credit records for up to ten
years and can prevent a person from being able to get a loan.
BEAM
A structural supporting member.
BILL OF SALE
A physical receipt indicating the sale of property.
BIWEEKLY MORTGAGE
A mortgage where you make "half payments" every two weeks, rather than one
payment per month. This results in making the equivalent of 13 monthly
payments per year, rather than 12, significantly reducing the time it takes to pay
off a thirty year mortgage.
BLIGHTED AREA
Any region of a city or town that has fallen into disrepair or otherwise has
become undesirable.
BONA FIDE
Any genuine offer, made without intent to defraud or deceive.
BRIDGE FINANCING
An interim loan made to facilitate the purchase of a new home before the
buyer's current residence sells and its equity is available to fund the new
purchase.
BRIDGING
Structural members used between beams to strengthen the structure.
BROKER
An individual who facilitates the purchase of property by bringing together a
buyer and a seller.
BTU
British Thermal Unit. A unit of measurement used to describe heating or cooling
capacity.
BUFFER ZONE
A segment of land between two disparate municipal zones which acts as a shield
to keep one zone from encroaching upon the other. Often used to separate
residential districts from commercial areas.
BUILDING CODE
Regulations that ensure the safety and material compliance of new construction
within a municipality. Building codes are localized to ensure they are adequate
to meet the risk of common hazards.
BUILDING LINE OR SETBACK
The statutory distance between buildings and the property line, imposed by
municipalities, home associations, or other agreements.
BUILT-INS
Specific items of personal property which are installed in a real estate
improvement such that they become part of the building. Built-in microwave
ovens and dishwashers are common examples.
BUNGALOW
A one-story, home-style dating from the early twentieth century. Often
characterized by a low-pitched roof.
BUY DOWN
Extra money paid in a lump sum to reduce the interest rate of a fixed rate
mortgage for a period of time. The extra money may be paid by the borrower, in
order to have a lower payment at the beginning of the mortgage. Or paid by the
seller, or lender, as incentive to buy the property or take on the mortgage.
BX CABLE
Electrical cable shrouded in a galvanized steel outer cover.
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Information presented on this website is believed reliable but is not guaranteed
Copyright © 2004-2006 All Rights Reserved
CENTURY 21 Lindsey & Pauley
1745 Hwy 53 West · Jasper, Georgia 30143
Office: 706-692-3533 · Fax: 706-692-2366
info@lindseyandpauley.com
2004 CENTURY 21 Real Estate Corporation © and sm trademark and servicemark of
CENTURY 21 Real Estate Corporation. Equal housing opportunity.
Home Buyers' Guide
