Short sale

In real estate, a short sale is transaction where a property sells for less than the amount owed on the property. Short sales usually take

Shotgun Style

A shotgun house is a narrow rectangular domestic residence, usually no more than about 12 feet (3.5 m) wide, with rooms arranged one behind the

Sheriff’s Deed

A 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 order

Settlement Statement

A settlement statement is a document given to borrowers at closing that itemizes services and fees charged to the borrower by the lender or broker.

Septic Tank

A septic tank is an underground chamber made of concrete, fiberglass, or plastic through which domestic wastewater (sewage) flows for basic treatment.

Riparian Water Rights

Doctrine pertaining to properties adjacent to a waterway that governs the use of surface water and gives all owners of land contiguous to streams, lakes,

Right of First Refusal

Right of first refusal is a contractual agreement that gives a specific party the opportunity to buy property before the owner can sell it to

Residential Real Estate

Residential real estate is an area developed for people to live on. As defined by local zoning ordinances, residential real estate cannot be used for

Restrictive Covenants

A covenant imposing a restriction on the use of land so that the value and enjoyment of adjoining land will be preserved.

Rescission

Rescission is the act of canceling a contract and returning both parties to the status they held before they entered the agreement. The right of

Homeowner Education