Safe Emergency Egress from HomeLarger-sized windows that meet codes for emergency escape and rescue requirements are called egress windows.
Safe HarborWhile many use the term “safe harbor” in reference to accounting and taxes, safe harbor laws are seen in a variety of industries,(...)
Sale of Loan PortfolioSale of loan portfolio is when a lender sells off a large batch of its loans, which gives the lender more cash to fund additional(...)
Sallie MaeSallie Mae is a financial services company for college students and their families. Originally founded as the Student Loan Marketing(...)
Saltbox RoofThe Saltbox roof is asymmetrical with one side similar to a sloping flat roof and the other side more of a lean-to roof. The extreme(...)
Saltbox StyleA saltbox house is a traditional New England style of house with a long, pitched roof that slopes down to the back, generally a wooden(...)
Sawtooth RoofAs the name suggests, the roof resembles the side view of a saw blade creating various slopes and use for natural light and is an(...)
Secondary Mortgage MarketMortgage originators sell home mortgage loans to investors on the secondary mortgage market. Loan aggregators buy mortgage loans from(...)
Secured LendingSecuring lending is when the borrower is required to give the lender collateral as a form of insurance against defaulting on the loan.
Seller’s AgentA seller’s agent, or seller’s real estate agent, is a professional who helps list the property for sale.
Seller’s DisclosureA Seller Disclosure is a set of documents completed by the seller of a home, listing any known issues with the property and any(...)
Seller’s MarketSeller’s market is a real estateterm, indicating that there are more real estate buyers in the market than there are sellers.
Septic TankA septic tank is an underground chamber made of concrete, fiberglass, or plastic through which domestic wastewater (sewage) flows for(...)
ServicerA servicer is a company that collects and handles all transactions on your mortgage account on a day-to-day basis.
Settlement StatementA settlement statement is a document given to borrowers at closing that itemizes services and fees charged to the borrower by the(...)
Shared Appreciation MortgageA shared appreciation mortgage, or SAM, is a home loan in which the lender offers a below-market interest rate in exchange for a share(...)
Sheriff's DeedA deed that gives ownership rights in property bought at a sheriff's sale. A sheriff's sale is a sale conducted by a sheriff upon(...)
Short saleIn real estate, a short sale is transaction where a property sells for less than the amount owed on the property. Short sales usually(...)
Shotgun StyleA shotgun house is a narrow rectangular domestic residence, usually no more than about 12 feet (3.5 m) wide, with rooms arranged one(...)
Simple interestSimple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account.
Simple interest loanA simple interest loan is one in which the interest has been calculated by multiplying the principal (P) times the rate (r) times the(...)
Single WideSome mobile homes are considered to be “single wide”– meaning that they are usually 8-12 feet in width. They may have as little as 400(...)
Site SurveySite surveys are inspections of an area where work is proposed, to gather information for a design or an estimate to complete the(...)
Skillion RoofA Skillion roof is often called a shed or lean-to roof. It is a single, sloping roof attached to a taller wall. This type of roof is(...)
SKUIn the field of inventory management, a stock keeping unit (SKU) is a distinct type of item for sale, such as a product or service,(...)
Soft inquiryA soft inquiry, also known as a soft pull, is a preliminary review of a person’s credit history by a lender or other entity.
SolariumA “solarium”, also known as a greenhouse or glass enclosure, is a type of sunroom addition that is made entirely of glass. The(...)
Southwestern StyleSouthwestern house plans reflect a rich history of Colonial Spanish and Native American styles and are usually one story with flat(...)
Spanish StyleSpanish Revival architecture tends to feature low-pitched, red-tile roofs, stucco walls, rounded arches, and an asymmetrical façade.(...)
Special AssessmentA special assessment is a levy that homeowners’ associations or local governments impose to pay for the installation or repair of(...)
Special Purpose DeedAlso called Administrator’s, Executor’s, Sheriff’s, Tax, Foreclosure, or Gift Deed. Frequently used in connection with court(...)
Special Tax DistrictSpecial districts are independent, special-purpose governmental units that exist separately from local governments such as county,(...)
Special Warranty DeedThis deed is slightly different from the warranty deed. This special warranty only encompasses the time the property was owned by the(...)
Split-level StyleA split-level home (also called a tri-level home) is a style of house in which the floor levels are staggered. There are typically two(...)
Starter homeFirst home that people plan to move from later on.
SteeringSteering refers to the illegal practice of directing a prospective homebuyer to or away from a neighborhood based on the presence or(...)
Stock CooperativeA stock cooperative is a corporation which is formed to hold title to improved real property, either in fee simple or for a term of(...)
Structural EncroachmentThis occurs when a property owner specifically builds something on land they don't own. Typically between neighbors, but it could also(...)
SubagentA subagent is a real estate agent or broker who brings in the buyer to purchase a property, but he is not the property’s listing agent.
Subprime mortgageA subprime mortgage is a home loan offered to customers with poor credit history. These loans carry higher interest rates, justified(...)
Subsurface Rights (Oil/Mineral/Gas)A landowner's right over minerals and other substances found below a property. A person acquires a subsurface right through purchase(...)
Sun NumberRating from 1-100 that shows your home's potential for solar capabilities
SurveySurveys are used to establish boundaries when new parcels of land are being developed, as well as to identify and confirm already(...)
Sweat equityIn real estate, sweat equity is the amount of work a homeowner puts into his or her home in an effort to improve the value of the residence.
