Glossary of terms used on this site
B
| Term | Definition |
|---|---|
| Break-even point |
The point in which the owner's rental income matches expenses and debt. |
| Breast height |
The height at which the diameter of a tree is measured: four feet, six inches above the ground. |
| Breezeway |
A roofed passageway with open sides. |
| Brick |
Building material made from clay molded into oblong blocks and fired in a kiln. |
| Bridge loan |
A short-term loan for borrowers who need more time to find permanent financing. |
| Broker |
A person licensed by the state to deal in real estate. |
| Brokerage |
The act of bringing together two or more parties in exchange for a fee or commission. |
| Broom clean |
The ideal condition of a building when it is turned over to an owner or tenant. |
| Brownstone |
A vintage row house constructed of red sandstone. |
| Buffer strip |
A parcel of land that separates two or more properties. |
| Builder upgrades |
Extra house features or better finishing materials that a builder offers. |
| Building and loan association |
An organization that raises money to helps its members purchase real estate or construct a building. |
| Building code |
A comprehensive set of laws that controls the construction or remodeling of a home or other structure. |
| Building inspector |
A city or county employee who enforces the building code and ensures that work is correctly performed. |
| Building line or setback |
Guidelines that limit how close an owner can build to the street or an adjacent property. |
| Building moratorium |
A halt on home construction to slow the rate of development. |
| Building paper |
A thick, water-resistant paper that serves as insulation. |
| Building permit |
A permit issued by a local government agency that allows the construction of home or renovation of a house. |
| Building restrictions |
Regulations that limit the manner in which property can be used. |
| Built-ins |
Appliances or other items that are framed into a home or permanently attached. |
| Bulkhead |
A retaining wall designed to hold back water from the ocean or another body of water. |
| Bundle of rights |
The various interests or rights an owner has in a property. |
| Bungalow |
A small one-story house or cottage. |
| Butterfly roof |
A roof formed by two gables that dip in the middle to resemble a butterfly's wings. |
| Buy-down mortgage |
A home loan in which the lender receives a premium as an inducement to reduce the interest rate during the early years of the mortgage. |
| Buyer broker |
A real estate broker who exclusively represents the buyer's interests in a transaction and whose commission is paid by the buyer rather than the seller. |
| Buyer's market |
A slow real estate market in which buyers have the advantage. |
| Buyer's remorse |
An emotion felt by first-time home buyers after signing a sales contract or closing the purchase of a house. |
| Bylaws |
The rules and regulations that a homeowners association or corporation adopts to govern activities. |
