Thursday, March 4, 2010

REAL ESTATE 101 GLOSSARY "F" - OAKVILLE HOMES



Fascia
A board that connects the ends of the roof rafters and provides a surface to support gutters.
Federal Reserve Board
A group of economists and other experts who set the nation's monetary policy. Its chief tool to control inflation is the power to control interest rates.
Fee simple
This type of ownership is the maximum interest a person can have in a piece of real estate. It entitles the owner to use the property in any manner they see fit, in accordance with state and local laws.
Feng shui
An ancient Chinese belief that the physical characteristics of a house and the positioning of the home will affect the fortunes of the owner.
Fiduciary duty
The relationship of trust that buyers and sellers expect from a real estate agent. The term also applies to legal and business relationships.
Finder's fee
A fee in any amount that is paid to someone.
Finish grade
A finish that prepares a lot for landscaping.
Fire wall
A buffer composed of fire-resistant material.
First mortgage
The primary mortgage on a property that has priority over all other voluntary liens.
Fixture
Personal property permanently attached to a house, such as drapery rods, toilets, built-in bookcases or a furnace.
Flashing
Metal strips placed around chimneys, skylights, vents, windows, doors, beneath shingles and along seams in the roof to prevent water seepage.
Floor area ratio
The calculation of the floor area of all homes or buildings in a project. It is used in the planning and development of a site.
Footings
Concrete foundations that support a structure.
For Sale By Owner (FSBO)
The owner acts as the agent to avoid paying a sales commission.
Frontage
The portion of property that borders a roadway or body of water.

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