Real Estate Terms starting with 'E' - Real-Estate-Dictionary.com (2024)

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Now, let's delve into the concepts highlighted in the article from Real-Estate-Dictionary.com:

1. Early Occupancy:

   • Refers to the situation where a buyer is allowed to occupy a property before the official closing.

2. Earnest Money:

   • A deposit made by the buyer to demonstrate their serious intent to purchase a property.

3. Earthquake Insurance:

   • Insurance coverage specifically designed to protect against damages caused by earthquakes.

4. Easem*nt:

   • The legal right to use someone else's land for a specific purpose.

5. Eaves:

   • The overhanging lower edge of a roof.

6. Effective Age:

   • The age a property appears to be based on its condition and maintenance, which may differ from its actual age.

7. Effective Gross Income:

   See Also

   What Is an Unconscionable Contract?
   • The total income generated by a property, accounting for vacancies and credit losses.

8. Efflorescence:

   • The crystalline deposit of salts often found on the surface of masonry materials, indicating water damage.

9. Electric Service Panel:

   • A distribution board that divides electrical power into subsidiary circuits.

10. Electronic Transfer:

    • The electronic movement of funds between parties.

11. Elevations:

    • Architectural drawings that show the exterior views of a property.

12. Ell:

    • A portion of a building extension at a right angle to the length of the main part.

13. Eminent Domain:

    • The government's power to take private property for public use, with fair compensation to the owner.

14. Employer-assisted Housing:

    • Housing assistance provided by an employer to its employees.

15. Empty Nesters:

    • Individuals or couples whose children have grown and moved out, leaving them with an "empty nest."

16. Encroachment:

    • Unauthorized intrusion or invasion onto another person's property.

17. Encumbrance:

    • Any claim or lien on a property that may affect its value.

18. End Loan:

    • The final loan in a series used to pay off the construction loan on a newly built property.

19. Endorser:

    • A person who signs a negotiable instrument, such as a check, to transfer ownership.

20. Engineer’s Chain:

    • A measuring tool used in land surveying.

21. English Tudor Style:

    • A specific architectural style characterized by timber framing and steeply pitched roofs.

22. Environmental Impact Statement:

    • A report assessing the potential environmental effects of a proposed project.

23. Environmentally Friendly Home Construction:

    • Building practices that minimize negative impacts on the environment.

24. Equal Credit Opportunity Act (ECOA):

    • A federal law prohibiting discrimination in lending practices.

25. Equalization:

    • The process of adjusting assessed values to ensure fairness in property taxation.

26. Equifax:

    • A credit reporting agency that gathers and maintains credit information on consumers.

27. Equity:

    • The difference between a property's market value and the outstanding mortgage balance.

28. Errors And Omissions Insurance:

    • Professional liability insurance that protects against claims for inadequate work or negligent actions.

29. Escheat:

    • The reversion of property to the state when a person dies without heirs or a will.

30. Escrow:

    • A financial arrangement where a third party holds funds or assets on behalf of two other parties involved in a transaction.

This overview should provide a solid understanding of the various real estate terms discussed in the article. If you have any specific questions or need further clarification on any term, feel free to ask.