Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
- Simple Assumption
- Loan that keeps the original borrower liable in the event that the new borrower defaults on the loan.
- Simple Cornice
- Horizontal board fastened to a wall to hold the decorative portion of a cornice.
- Simple Interest
- Interest computations that are calculated only on the original principal amount.
- Simple Rate of Return
- Accounting or unadjusted rate of return. The return computed by dividing the anticipated future annual net income by the required investment in real estate.
- Simulate
- To replicate another thing. To artificially take on the appearance or behavior of a different object or condition.
- Single Coursing
- Single layer of siding shingles that is applied with a small overlap along the edge of the course below.
- Single Cut File
- Metal file with teeth that are diagonally cut and run in a single direction across the face.
- Single Face Fireplace
- Fireplace that opens in only one room.
- Single Family Dwelling
- House designed for use by one family. Even if other dwellings are attached, as in a town house, they would have separate plumbing, heating and electrical systems, etc. They may be detached housing, town homes, condominiums or co-operatives.
- Single Hung Window
- Window consisting of a fixed upper sash and a moveable bottom sash that goes up or down to open or close the window.
- Single Line Diagram
- Drawing, using only one line to show the routing of electrical circuits, despite the amount of connections it may have.
- Single Lite
- Stationary window with a single, undivided glass pane.
- Single Phase
- AC electricity with one phase. Electricity generation is in three stages of power, 120 degrees apart.
- Single Pole, Double Throw Switch
- Electrical switch, also known as a three-way switch, is used to turn lights, or other circuits, on and off at different places. For example, at the top and bottom of stairs or on the ends of a long hallway. The light can be turned on from one switch and then turned off from the other.
- Single Pole, Single Throw Switch
- Electrical switch, the most common one used in buildings, which controls the outlet or light from only one place.
- Single Property Syndicate
- Equity investors involved in the purchase of one property only, with the total amount of money raised being used for that purpose.
- Single Wall Siding
- Exterior wall siding that is not applied over sheathing.
- Sink
- Term technically applied to a kitchen sink but is also used to describe the lavatories in bathrooms.
- Sinking Fund
- Fund set aside for periodic payments, aimed at reducing a financial obligation taken out to buy real estate, or to accumulate enough funds to buy property or for plant expansion. The principal deposited into the sinking fund earns interest. The total amount accumulated is then used for the desired purpose.
- SIOR
- Society of Industrial and Office Realtors. Organization, affiliated with the National Association of Realtors, whose members are mainly concerned with the sale of warehouses, factories, and other industrial property. Confers SIOR designation. Address: 700 11th Street NW, Suite 510 Washington, DC 20001.
- Site
- A plot of land prepared for or underlying a structure or development. The location of a property.
- Site Analysis
- Evaluation of an area to determine its appropriateness for designated objectives.
- Site Assessment (Environmental)
- An evaluation of a site, prior to acquisition of title to the property, for the existence of hazardous waste. Under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA), as amended by the Superfund Amendments and Reauthorization Act of 1986 (SARA) anyone acquiring title to a site is responsible for environmental damage resulting from hazardous wastes on the site. However, there are legal defenses for landowners who conduct proper site assessments prior to acquisition.
- Site Built Home
- Home is constructed on a piece of property that is chosen by the potential homeowner, at a location they pick, and then a home is built.
- Site Development Costs
- Total expenses required to make a property suitable for it's designated purpose.
- Site Plan
- Document that describes how a parcel of land is to be improved. It includes the outlines of all structures and site improvements, such as driveways, parking lots, landscaping and utility connections.
- Site Survey
- Determination of the measurements of a specific location.
- Situs
- Geographic location of land based on its economic significance. The economic attributes of location, including the relationship between the property and surrounding properties, as well as distant points of interest and the linkages to those points. Situs is considered to be the aspect of location that contributes to the market value of a real property.
- Size
- Thin, pasty or gluey substance used as a glaze or filler on porous material, such as plaster, paper, cloth, etc.
- Sizing
-
- To make or shape to a given size.
- To grade or arrange according to size.
- To estimate the sizes needed.
- The act or process of applying size.
- Skeleton
- Framework of a structure.
- Sketch
- A simple, rough drawing or design.
- Skew
-
- Turn aside or to one side; slanting, oblique.
- Chisel, used with a woodturning lathe, which has a cutting edge at a different angle than perpendicular to the axis of the blade.
- Skewback
- Slanting surface that supports either end of a segmental arch.
- Skewed
-
- At an angle.
- Not parallel or level.
- Out of square.
- Skewed Beam
- Structural piece that intersects with another structural piece at a different angle than a 90-degree angle.
- Skil Saw
- Trademark name given to a brand of portable circular saw.
- Skim Coat
- Thin coat of joint compound applied to a rough wall to smooth it.
- Skin
-
- Outside layer or covering of a structure, which may be a coating of material for protection against the weather.
- Dry surface which appears on paint, caulk, and similar materials that are exposed to air for too long.
- Skintled Brickwork
-
- Brick wall where mortar has been squeezed out between the joints and set up so that it appears rough.
- Brick wall with brick set in different vertical planes and not flush so that it appears rough.
- Skippy
- Defective job of painting that leaves uncoated parts of the surface.
- Skip Trowel
- Texturing which is troweled on to fashion a finish coat of wallboard or plaster that is flat and slightly elevated.
- Skirt
-
- Border of trim molding.
- Siding that covers from the base to the ground of a mobile home or porch.
- Skirting
- Placing baseboard around an interior wall base.
- Skylight
- Roof window that allows natural light into a room. Certain types of skylights can be opened and closed and provide ventilation.
- Skylight, Self-flashing
- Skylight that installs directly into the roof slope and is less conspicuous.
|
