Real Estate Term of the Day: As Is AS IS – property is sold without guarantees as to condition. Premises are accepted by a buyer as they are including physical defects (Barron’s Dictionary of Real Estate Terms) Most bank owned properties (such as REOs, HUD homes, foreclosures) and short sale properties are sold in as … More Real Estate Term of the Day: As Is
Real Estate Term of the Day: Asbestos ASBESTOS – insulation material frequently used in older buildings as pipe wrap, boiler insulation, floor tile, and ceiling coating (called Asbestos-Containing Material or ACM). Asbestos may become brittle with age. In that condition, it may crumble and release particles which, like dust, become airborne. Breathing asbestos particles may … More Real Estate Term of the Day: Asbestos
Real Estate Term of the Day: Arrears ARREARS – at the end of a term. Interest on a mortgage loan and property taxes are the most common items in real estate that are paid in arrears (Barron’s Dictionary of Real Estate Terms) Property taxes in Colorado are paid in arrears. For example, in 2011 properties … More Real Estate Term of the Day: Arrears
Real Estate Term of the Day: Architecture ARCHITECTURE – the manner in which a building is constructed, including the layout, floor plan, style and appearance, materials used, and the building technology used (Barron’s Dictionary of Real Estate Terms) Below are several examples of architectural styles from the National Association of Realtors: American Farmhouse Art Deco … More Real Estate Term of the Day: Architecture
LESLIE MONACO REAL ESTATE 