by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Premises accepted by a buyer or tenant in the condition existing at the time of the sale or lease, including all physical defects. “As-is condition” means the property is being sold in its current state, with the seller indicating they will not make repairs,...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
A hazardous material, used for fire resistance, once commonly used in insulation, flooring, and roofing materials. Asbestos is a naturally occurring mineral fiber that was widely used in building materials because it resists heat, fire, and corrosion, but it is now...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Any part of real property which passes upon the transfer, either attached or not, such as a barn or an easement. An appurtenance is something that is attached to or associated with a property and is considered a permanent part of it, meaning it typically transfers to...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An increased value of property due to either a positive improvement of the area or elimination of negative factors, but not due to an increase in value from inflation. Appreciation in real estate refers to an increase in the value of a property over time. When a home...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An opinion of value based upon factual analysis. An appraisal is an opinion or conclusion as to the value of a property on a given date. An appraiser gives an opinion as to value. The appraiser does not set value, nor does the appraiser determine or create value....
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The yearly interest percentage of a loan, as expressed by the actual rate of interest paid, including up-front loan fees. The interest rate on a mortgage loan, sometimes called the note rate, is the percentage the lender charges you to borrow the principal amount of...
