Cancellation clause
A clause that details the conditions under which each party may terminate the agreement.
Cap
A limit on the amount the interest rate or monthly payment can increase in an adjustable-rate mortgage.
Cape Cod style
A wood-frame or shingled house with a steep roof and several windows projecting from the second floor.
Capital
Money used to create income, such as funds invested in rental property.
Capital expenditure
The cost of making improvements on a property.
Capital gains
Profits an investor makes from the sale of real estate or investments.
Capital gains tax
A tax placed on the profits from the sale of real estate or investments.
Capital improvement
Any improvement that extends the life or increases the value of a piece of property.
Carport
A roof that covers a driveway or other parking area.
Casement window
A window hinged on its sides to allow it to swing open vertically.
Cathedral ceiling
A high open ceiling formed by finishing exposed roof rafters.
Caulk
An acrylic or silicon sealant used to fill cracks, crevices and holes in a home.
Caveat
A formal notice, that asks a court to suspend action until the party which filed the challenge can be heard.
Certificate of Deposit (CD)
A document which shows that the bearer has a specified amount of money on deposit with a bank, stock-brokerage firm or other financial institution.
Certificate of title
A written opinion on the status of a piece of property based on an examination of the public record.
Chattel
Personal property such as furniture, clothing or a car.
Closing
The final procedure in which documents are signed and recorded, and the property is transferred.
Closing costs
Expenses incidental to the sale of real estate, including loan, title and appraisal fees.
Commercial property
An area that is zoned for businesses.
Commission
The negotiable percentage of the sales price of a home that is paid to the agents of the buyer and seller.
Comparables
Properties used as comparisons to determine the value of a certain property.
Comparative market analysis
An estimate of the value of a property based on an analysis of sales of properties with similar characteristics.
Condominium
Individual units in a building or development in which owners hold title to the interior space while common areas such as parking lots, community rooms and recreational areas are owned by all the residents.
Contract to purchase
A contract the buyer initiates which details the purchase price and conditions of the transaction and is accepted by the seller. Also known as an agreement of sale.
Contractor
The individual who contracts for the construction of a home or project.
Cooperating broker
A real estate broker who finds a buyer for a property that another broker has listed.
Counteroffer
A response to an offer.
Covenant
A legal assurance or promise in a deed or other document, or implied by the law.
Craftsman style
An architectural style that evolved as part of the Arts and Craft movement near the turn of the century.
Cul de sac
A street or alley that is closed at one end.
Custom home
A structure designed by an architect hired by the owner.
Cynic
Someone who knows the cost of everything and the value of nothing.
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A clause that details the conditions under which each party may terminate the agreement.
Cap
A limit on the amount the interest rate or monthly payment can increase in an adjustable-rate mortgage.
Cape Cod style
A wood-frame or shingled house with a steep roof and several windows projecting from the second floor.
Capital
Money used to create income, such as funds invested in rental property.
Capital expenditure
The cost of making improvements on a property.
Capital gains
Profits an investor makes from the sale of real estate or investments.
Capital gains tax
A tax placed on the profits from the sale of real estate or investments.
Capital improvement
Any improvement that extends the life or increases the value of a piece of property.
Carport
A roof that covers a driveway or other parking area.
Casement window
A window hinged on its sides to allow it to swing open vertically.
Cathedral ceiling
A high open ceiling formed by finishing exposed roof rafters.
Caulk
An acrylic or silicon sealant used to fill cracks, crevices and holes in a home.
Caveat
A formal notice, that asks a court to suspend action until the party which filed the challenge can be heard.
Certificate of Deposit (CD)
A document which shows that the bearer has a specified amount of money on deposit with a bank, stock-brokerage firm or other financial institution.
Certificate of title
A written opinion on the status of a piece of property based on an examination of the public record.
Chattel
Personal property such as furniture, clothing or a car.
Closing
The final procedure in which documents are signed and recorded, and the property is transferred.
Closing costs
Expenses incidental to the sale of real estate, including loan, title and appraisal fees.
Commercial property
An area that is zoned for businesses.
Commission
The negotiable percentage of the sales price of a home that is paid to the agents of the buyer and seller.
Comparables
Properties used as comparisons to determine the value of a certain property.
Comparative market analysis
An estimate of the value of a property based on an analysis of sales of properties with similar characteristics.
Condominium
Individual units in a building or development in which owners hold title to the interior space while common areas such as parking lots, community rooms and recreational areas are owned by all the residents.
Contract to purchase
A contract the buyer initiates which details the purchase price and conditions of the transaction and is accepted by the seller. Also known as an agreement of sale.
Contractor
The individual who contracts for the construction of a home or project.
Cooperating broker
A real estate broker who finds a buyer for a property that another broker has listed.
Counteroffer
A response to an offer.
Covenant
A legal assurance or promise in a deed or other document, or implied by the law.
Craftsman style
An architectural style that evolved as part of the Arts and Craft movement near the turn of the century.
Cul de sac
A street or alley that is closed at one end.
Custom home
A structure designed by an architect hired by the owner.
Cynic
Someone who knows the cost of everything and the value of nothing.
View My Website
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