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Real Estate Glossary

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E                                                                                                          

Term                                Description

EIK:             

En Suite Bathroom:  

Escrow:      

Equity:      

Escrow Payment:  

Exclusive Listing: 

Real Estate Glossary

From ‘Abstract of Title’ to ‘Triple-Mint’, the arcana of real estate explained

Browse alphabetically by choosing a letter from the list below.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

The acronym used to describe an Eat-In-Kitchen.

French term literally meaning 'together'.  In the realtor's

lexicon, this term refers to a bathroom that is one with the     adjoining bedroom.  In other words, one does not have to leave

his/her bedroom in order to go to the bathroom.   This type of

setup is most common with Master Bedrooms.

The procedure of placing money in an account where neither    

buyer nor seller can access the money without the consent of

an escrow agent.

The difference between market value of the property and the owner’s indebtedness.

A portion of a mortgagor’s monthly payment held in trust by the lender to pay for taxes, insurance, mortgage insurance, and   

other items that become due.

An exclusive listing is a listing promoted by a single broker for

which he/she has been hired by an owner to market his/her

apartment.  In an exclusive right-to-sell arrangement, the  individual broker has the right to earn a commission in the event that the property sells during the term of the exclusive. This type of arrangement precludes the owner of the apartment from selling the property on his/her own.  Under the terms of an exclusive, the broker has the fiduciary responsibility to market

the property to other brokers. The exclusive broker is accountable to the owner of the property and is responsible for

seeing the transaction through its conclusion.  The other type

of exclusive is an exclusive agency.  The only difference  between an exclusive right-to-sell and an exclusive agency is

that in an exclusive agency arrangement, the owner can sell

his/her property on their own and exclude the broker from any

commission.

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