Real Estate Term of the Day: Energy Efficient ENERGY EFFICIENT – as applied to buildings, generally indicating the existence of extra insulation, weatherproofing, and/or specific features and equipment designed to reduce the cost of energy for heating, cooling and hot water (Barron’s Dictionary of Real Estate Terms) According to the U.S. Department of Energy, Before you … More Real Estate Term of the Day: Energy Efficient
Real Estate Term of the Day: Encumbrance ENCUMBRANCE – any right to or interest in land that affects its value (Barron’s Dictionary of Real Estate Terms) A quick title search can show recorded encumbrances which can include: Outstanding mortgage loans Unpaid taxes HOA lien EASEMENTS DEED RESTRICTIONS – a clause in a deed that limits … More Real Estate Term of the Day: Encumbrance
Real Estate Term of the Day: Encroachment ENCROACHMENT – a building, a part of a building, or an obstruction that physically intrudes upon, overlaps, or trespasses upon the property of another (Barron’s Dictionary of Real Estate Terms) Encroachments can be found by a title search and/or land survey (in most cases an ILC – Improvement … More Real Estate Term of the Day: Encroachment
Real Estate Term of the Day: Eminent Domain EMINENT DOMAIN – the right of the government or a public utility to acquire property for necessary public use by condemnation; the owner must be fairly compensated (Barron’s Dictionary of Real Estate Terms) A recent example of eminent domain use is the construction of the RTD FasTracks … More Real Estate Term of the Day: Eminent Domain
LESLIE MONACO REAL ESTATE 