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Definition of Elevations
The exterior view of a home design that shows the position of the house relative to the grade of the land.
Under certain circumstances, taxation rules assume that a transfer of property has occurred, even though there has not been an actual purchase or sale. This could happen upon death or transfer of ownership.
Gross household income is the total salary, wages, commissions and other assured income, before deductions, by all household members who are co-applicants for the mortgage.
The difference between the price for which a home could be sold (market value) and the total debts registered against it.
One of a group of homes in a two-story building, with own garage and entrance.
A home with a courtyard as its main entrance.
Like any other warranty, this guarantees the property against failure of mechanical systems, such as plumbing, electrical, heating and installed appliances.
Small, single-family home with a patio.
A detached house.
One of a row of houses connected with common side walls.
Ground level, or the elevation at any given point. Also the work of leveling dirt. Also the designated quality of a manufactured piece of wood.
A platform between flights of stairs or at the termination of a flight of stairs. Often used when stairs change direction. Normally no less than 3 ft. X 3 ft. square.
A house built without prefabricated parts. Also called conventional building.
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