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Real Estate Glossary

Incubator

This is an economical development specifically created and designed to support up-and-coming or new businesses. Incubators typically provide a lab or office space for free at a discounted price in buildings that are leased or...

Real Estate Glossary

Dock-high Door

This is a loading dock door that is elevated to four feet so that it will be even with the standard tractor-trailer height for the unloading and unloading of goods so there isn't a elevation change.

Real Estate Glossary

Closing costs

This refers to the costs the buyer needs to pay at the time of the closing. Closing costs can depend from one financial institution to another. They are in addition to the downpayment, which may include title charges, the credit...

Real Estate Glossary

Equity

This is the fair market value of an asset less the value of any liabilities on the asset. It is commonly used to define the value of a property and help in the purchasing of a new one. Equity is taken into account when taking out...

Real Estate Glossary

Descent

This is the acquisition of a particular property through inheritance laws. Upon the death of another, a person obtains the real estate or asset of the former as their heir at law.