Real Estate Terms Starting with

A metal rod inserted into a water heater to extend the life of the tank. … [Read more...] about Sacrificial Anode

A real estate transaction in which the buyer leases back the property to the seller for a specific period of time. Also called seller rent-back. … [Read more...] about Sale-Leaseback

A Sales Concession is an arrangement in which a seller offers to pay part or all of the buyer's closing costs, discount points, or other expenses associated with purchasing a property.This incentive can make a property more attractive to buyers and can help facilitate a sale. However, it can also affect the final sale price of the property. Sales concessions are commonly … [Read more...] about Sales Concession

A contract signed by the buyer and seller that details the terms of a home purchase. … [Read more...] about Sales Contract

A design that dates to colonial times and takes its name from the shape of saltboxes. … [Read more...] about Saltbox Style

The drain line in a house that carries away wastewater to a municipal sewer system or a septic system. … [Read more...] about Sanitary Sewer

One of two windows in a double-hung window. … [Read more...] about Sash

Renderings of floor plans and the exterior of a house. … [Read more...] about Schematic Designs

A wall-mounted light fixture. … [Read more...] about Sconce

A second loan placed upon a piece of property. A mortgage registered against real property which is already encumbered with one mortgage. Date and time of registration determines which is first and which is second. … [Read more...] about Second Mortgage

A market of packaged home loans that are resold as securities to investors. Major players in this market are Fannie Mae and Freddie Mac. … [Read more...] about Secondary Mortgage Market

A loan backed by collateral. … [Read more...] about Secured Loan

A piece of property designated as collateral. … [Read more...] about Security

An agreement in which the seller provides financing for a home purchase.Exploring Seller Carry-Back: A Unique Real Estate Financing OptionSeller carry-back is an unconventional financing option in the real estate industry that allows buyers to secure a property without relying on traditional mortgage lenders. In this arrangement, the seller acts as the lender, providing … [Read more...] about Seller Carry-Back

The seller allows the borrower to use a portion of the equity in the property to finance the purchase.Seller Financing: Unlocking Property Equity For Purchase FinancingSeller financing, also known as purchase financing, is a method of acquiring property without relying on traditional lenders. It involves the seller providing the necessary funds for the buyer to complete … [Read more...] about Seller Financing

A real estate transaction in which the buyer leases the property back to the seller for a specific period of time. Also called sale-leaseback. … [Read more...] about Seller Rent-Back

An agreement in which the seller provides financing for a home purchase. … [Read more...] about Seller Take-Back

A hot real estate market in which sellers have the advantage and multiple offers are common. … [Read more...] about Seller’s Market

A real estate broker or salesperson who writes the purchase offer for a buyer in a real estate transaction, but may not actually represent the buyer. … [Read more...] about Selling Agent

The buyer of a semi-custom home is free to make changes to some design aspects of the home, but not to the home's structural plan. … [Read more...] about Semi-Custom Home

A self-contained sewage treatment system that holds wastewater in an underground storage area and relies on bacterial action to decompose solid waste matter. … [Read more...] about Septic System

The wires extending from the home's service equipment to the utility company's line. … [Read more...] about Service Conductor

The wire between the terminals of the panel and the connection with the service conductor. … [Read more...] about Service Entrance Conductor

A firm that collects mortgage payments and manages borrowers' escrow accounts. … [Read more...] about Servicer

The minimum distance a house or building must be from the lot line. … [Read more...] about Setback

Fees paid to the escrow agent (and often a title insurance company) for carrying out the written instructions of the agreement between buyer and seller and/or borrower and lender. … [Read more...] about Settlement or Closing Fees

A document that details who has paid what to whom. … [Read more...] about Settlement Statement

Ownership of real property by one person. Also known as sole ownership. … [Read more...] about Severalty

Changing an item from real property to personal property by detaching it from the land. … [Read more...] about Severance

A thick wood (often cedar) shingle used for roofs and siding. … [Read more...] about Shake

A loan that allows a lender or other party to share in the borrower's profits when the home is sold. … [Read more...] about Shared-Appreciation Mortgage

A transaction in which two buyers purchase a property, one as a resident co-owner and the other as an investor co-owner. … [Read more...] about Shared-Equity Transaction

Sheets of material applied across floors, rafters, or studs. … [Read more...] about Sheathing

A ceiling that pitches upward at one end. … [Read more...] about Shed Ceiling

A roof that pitches up further on one side than the other. … [Read more...] about Shed Roof

A flat, bar-like tool with a sharp hook that's designed to make removing shingles an easier job. You slip the hook up under wood shingles then rap the tool with a hammer to shear-off nails with the sharp hook. … [Read more...] about Shingle Ripper

An alternative style of Victorian home that evolved in the late 19th century to simplify the complexity of the traditional Victorian house. … [Read more...] about Shingle Style

Thin, wedge-shaped pieces of wood or flat rectangular pieces of slate, mineral fiber, glass fiber, or composition asphalt installed on a roof to prevent water seepage. … [Read more...] about Shingles

A milled pattern of siding designed to shed water when applied horizontally. … [Read more...] about Shiplap

An unobtrusive finish trim between the floor and the baseboard. Shoe molding is designed to hide any irregularities in the seam between the floor and wall or baseboard. … [Read more...] about Shoe Molding

While a shutoff valve may be any water or gas valve, it generally refers to the small valve under a sink or behind a toilet that controls the water supply to the plumbing fixture. … [Read more...] about Shutoff Valve

Covers mounted at either side of a window. … [Read more...] about Shutters

Tall, narrow windows that stand on one or both sides of a door to admit light and allow residents to see the person at the door. Also known as door lights. … [Read more...] about Sidelights

A type of covering on a home's exterior walls. … [Read more...] about Siding

The lowest horizontal member across a door or window opening. In the case of a door, the sill is often called a threshold. … [Read more...] about Sill

An exterior threaded faucet connection for garden hoses that provides water outside a home. … [Read more...] about Sill Cock

A horizontal piece of wood placed on top of the foundation. … [Read more...] about Sill Plate

A material that seals gaps between the foundation and sill plate. … [Read more...] about Sill Sealer

A type of loan assumption in which the original borrower remains secondarily liable should the assumptor default. … [Read more...] about Simple Assumption

Any agent who represents either the buyer or the seller in a transaction. … [Read more...] about Single Agent