| 4 | | A | | B | | C | | D | | E | | F | | G | | H | | I | | J | | K | | L | | M | | N | | O | | P | | Q | | R | | S | | T | | U | | V | | W | | Z | | ALL |
E |
| Early occupancy The condition in which buyers can occupy the property before the sale is completed. |
| Earnest money Money a buyer gives with an offer to purchase a property. Also called a deposit. |
| Earthquake insurance A policy that provides coverage against damage to a home from an earthquake. |
| Easement A right given to a third party to use a portion of the property for certain purposes, such as power lines or water mains. |
| Eaves The projecting overhang at the lower edge of a roof. |
| Effective age The age of a structure estimated by its condition rather than its actual age. |
| Effective gross income Additional income that a lender considers when assessing the loan application of a potential borrower. |
| Electric service panel A panel that transfers power from the utility line into a house to be distributed through fuses or circuit breakers. |
| Elevations The exterior view of a home design that shows the position of the house relative to the grade of the land. |
| Ell An extension or wing of a house that is at right angles to the main structure. |
| Eminent domain The government's right to condemn private land for public use, such as the routing of a public highway. |
| Employer-assisted housing Programs which help employees purchase homes through special plans developed with lenders. |
| Empty nesters Potential buyers who have raised their families and want to move into a smaller home. |
| Encroachment Fences or other structures that extend into the property of another owner. |
| Encumbrance A claim or lien on a property which complicates the title process. |
| End loan The conversion from a construction loan to permanent financing a condominium buyer secures after all units in a project have been completed. |
| Endorser A person who signs over ownership of property to another party. |
| English Tudor style An architectural design that features stone or brick exterior walls and exposed beams. |
| Environmental impact statement A government-mandated evaluation of all aspects and effects a development will have on the environment of a proposed site. |
| Environmentally friendly home construction A method of construction that utilizes recycled materials. |
| Equal Credit Opportunity Act. A federal law that prohibits a lender or other creditor from refusing to grant credit based on the applicant's sex, marital status, race, religion, national origin or age. The law also prohibits a creditor from refusing to grant credit because the applicant receives public assistance. |
| Equifax Equifax Credit Information Services, Inc., is one of the "Big Three" credit-reporting bureaus that operate nationwide. Address: P.O. Box 740249, Atlanta, GA 30374. |
| Equity A determination of the value of a property after existing liens are deducted. |
| Errors and omissions insurance A policy that pays for any mistakes a builder or architect makes in a project. |
| Escrow A neutral third party holds the documents and money involved in a real estate transaction and ensures that all conditions of a sale are met.. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance. |
| Escrow account An account that a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account. |
| Escrow agent A neutral third party who ensures that all conditions of a real estate transaction are met. |
| Escrow analysis A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and insurance. |
| Escrow closing Escrow closes when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer. |
| Escrow company Firms that act as neutral third parties to ensure that all conditions that the buyer, seller and lender establish in a real estate transaction are met. |
| Escrow payment Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance. |
| Estate The total assets of a person, including real property, at the time of death. |
| Eviction A legal procedure to remove a tenant for reasons including failure to pay rent. |
| Examination of title An inspection by a title company of public records and other documents to determine the chain of ownership of a property. |
| Excavation The process of clearing trees, removing topsoil and grading land before the foundation is laid. |
| Exclusive listing A contract that gives an agent the exclusive right to market a property for a specific period of time. |
| Executor A person appointed to carry out the instructions in a will. If there is no will, a probate court will appoint an executor. |
| Exhaust fan Ventilating devices that remove water vapor, undesired smells or smoke. |
| Experian Experian, formerly known as TRW Information Systems & Services, is one of the "Big Three" credit-reporting bureaus.. Address: 505 City Parkway West, Orange, CA 92868. |