Home Inspection & Real Estate Glossary

Confused by any lingo being thrown your way during the real estate process? We’ve got you covered!

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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

A

Air Quality Testing

Assessing the indoor air for pollutants, allergens, and contaminants that could affect the health and comfort of the home’s occupants.

Amortization

Refers to the process of paying off a debt, such as a mortgage loan, through regular payments over a specific period of time.

AMSV (Adhered Manufactured Stone Veneer)

A lightweight, versatile building material used in construction for both aesthetic and functional purposes.

Appraisal

An estimation of the value of a property, usually conducted by a professional appraiser.

Architectural Shingles

A premium type of asphalt shingle used in home building for roofing.

Asbestos

Asbestos, once widely used in building materials for its durability and fire resistance, now poses serious health risks if its fibers are inhaled.

B

Balloon Payment

A large, lump-sum payment made at the end of a loan term. It is typically associated with relatively short loan durations.

Bonded

The connection of metal components and conductive materials within a structure to ensure they share the same electrical potential.

Brick Veneer

A single layer of brick installed on the exterior of a building as a decorative and protective façade.

Bridge Loan

A short-term loan that provides immediate cash flow to individuals or businesses.

Broker

An individual who has obtained a broker’s license, which typically requires additional education and experience beyond that of a real estate agent.

C

Cellulose

A popular type of insulation used in attics, made primarily from recycled paper products treated with fire-retardant chemicals for safety.

Cladding

The application of one material over another to provide a skin or layer.

Cleanout

An accessible point in a drainage system designed to provide easy access for clearing clogs or inspecting the pipes.

Combustible Clearance

The minimum safe distance required between a fireplace and nearby combustible materials like wood framing, drywall, or trim.

Concrete Slab

Used as foundations for buildings, providing a stable and level base upon which the rest of the structure is built.

Contingency

A condition or provision included in a purchase agreement or contract that must be met for the contract to be binding and for the sale to proceed.

Crawl Space

An unfinished area beneath a house, typically between the ground and the first floor. 

Crawl Space (Encapsulated)

A crawl space sealed with a durable vapor barrier covering the ground, walls, and sometimes the ceiling to block moisture, mold, and pests.

Crawl Space (Vented)

A type of crawl space with openings or vents along the exterior walls to allow outdoor air to circulate underneath the home.

D

Defect

Any issue, problem, or condition in a property that deviates from the expected or desired standard.

Dehumidifier

A device designed to reduce excess moisture in the air by drawing humid air in, removing the water through condensation, and releasing drier air back.

Disclosure

Refers to the act of providing relevant information about a property to potential buyers.

Drainage

The system and features designed to manage and direct water away from the property to prevent water damage, flooding, and moisture-related issues.

Due Diligence

The timed investigation and research conducted by buyers and sellers to assess the property’s condition, legal status, and financial viability.

E

EIFS (Exterior Insulation and Finish System)

A type of synthetic stucco used in home construction that consists of multiple layers, including foam insulation, a base coat, and a finishing coat.

Encapsulation

Refers to sealing off areas like crawl spaces or attics with vapor barriers, insulation, to control moisture and improve energy efficiency.

Equity

The ownership interest that a homeowner has in their property.

ERV (Energy Recovery Ventilator)

A system designed to improve indoor air quality while maintaining energy efficiency.

Escrow

A financial arrangement where a third party holds funds and important documents on behalf of the parties involved until all conditions of the sale are met.

Expansion Tank

A small, sealed container designed to absorb excess pressure caused by thermal expansion when water is heated.

F

Fiber Cement Siding

A durable, low-maintenance exterior cladding material made from a mixture of cement, sand, and cellulose fibers.

Flue

An essential part of the building’s ventilation system, particularly in structures with combustion appliances.

For Sale by Owner (FSBO)

A property that is being sold directly by the owner without the assistance of a real estate agent or broker.

G

Gable Vent

A vent installed in the gable end of an attic that allows for the circulation of air in the attic, helping to reduce moisture temperature.

GFCI (Ground Fault Circuit Interrupter)

Electrical safety devices designed to protect people from electric shock hazards

Good Faith Estimate

A document outlining the estimate costs associated with obtaining a mortgage loan.

Ground (Electrical)

A safety feature in an electrical system that provides a direct path for electrical current to flow safely into the earth in case of a fault or surge.

H

Home Inspection

A crucial step in the process where a professional inspector assesses the condition of a property.

Hot (Electrical)

Refers to a wire or conductor that carries current from the power source to the electrical device or load.

HRV (Heat Recovery Ventilator)

A ventilation system designed to improve indoor air quality while conserving energy.

Humidity Levels

Refers to the amount of moisture in the air, typically measured as a percentage.

HVAC (Heating, Ventilation, and Air Conditioning) System

A mechanical system installed in buildings to provide thermal comfort and maintain indoor air quality.

I

Infrared

Technology used to measure the difference in temperature not visible to the human eye.

J

Joint (Plumbing)

Refers to the connection point between two or more pipes, fittings, or fixtures.

K

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L

Lateral (Sewer)

Underground piping that connects a property’s plumbing system to the main sewer line or septic system.

Lot Grading

The process of shaping and leveling the land around a building site to ensure proper drainage and water management.

Lead

Lead is a soft, heavy, and malleable metal that was historically used in various aspects of home construction.

Loan

The borrowing of funds to purchase property, typically facilitated by a financial institution such as a bank, credit union, or mortgage lender.

M

Masonry Veneer

Exterior wall cladding that provides the appearance of traditional masonry construction while using thinner and lighter materials.

Microbial Growth

The reproduction and increase in the number of microorganisms such as mold, mildew, and bacteria.

Moisture Management

Crucial to prevent issues like mold growth, wood rot, and structural damage.

Mold

Mold in a household is a type of fungus that grows in damp, warm, and poorly ventilated areas, often appearing as black, green, or white patches.

Mortgage

A loan specifically used to purchase real estate, where the property itself serves as collateral for the loan.

N

Neutral (Electrical)

A conductor within an electrical system that is intentionally connected to the earth or ground.

O

Offset (Plumbing)

A deviation or change in direction of a pipe from its straight path.

Open and Closed Cell Foam

Two types of foam commonly used in construction for insulation, sealing, and other applications.

P

Pitch (Plumbing)

The slope or incline of a pipe relative to the horizontal plane.

Plinth Block

A decorative architectural element used in construction, particularly in interior finishing work around doorways and baseboards.

Q

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R

Radon

A colorless, odorless, tasteless radioactive gas that is the number one cause of lung cancer among non-smokers.

Remediation

The process of addressing and resolving environmental issues or hazards on a property.

Report

A comprehensive document generated by a home inspector after evaluating the condition of a property.

Ridge Vent

A type of roof vent installed at the peak, or ridge, of a sloped roof.

Roof Vent

Openings or devices installed on the roof of a house to allow for proper ventilation of the attic or upper spaces.

S

Sag (Wasteline)

A downward dip or bend in the pipe that occurs due to gravity or improper installation.

Sewer

An underground pipe system designed to carry wastewater and sewage away from buildings and homes to a treatment facility or disposal site.

Slope (Plumbing)

The gradual incline of pipes that allows wastewater to flow away from fixtures and towards the main sewer line or septic system.

Soffit Vent

Ventilation opening installed in the underside of the eaves or overhang of a building’s roof.

Stack Vent

A vertical pipe or duct that extends from the drainage system of a building to the open air, typically through the roof.

Stucco

An exterior finish made of cement, sand, lime, and water applied in multiple coats over a wire or mesh framework

T

Tap (Plumbing)

A device that controls the flow of liquid, also known as a faucet.

Temperature or Pressure Relief Valve

A safety device used to release excessive pressure or temperature buildup within a closed system to prevent explosions or ruptures.

Toilet Flange

A round or square-shaped fitting that connects the toilet to the waste pipe in the floor.

U

Ufer Grounding

A grounding system that involves burying a grounding electrode within a concrete foundation or footing of a building.

Underlayment

A material placed beneath the surface layer of floors or roofs to provide additional protection, support, and insulation.

V

Vapor Barrier

A material used in construction to prevent the movement of water vapor through building materials.

W

Walkthrough

A visual inspection of a property conducted by potential buyers typically after an offer has been accepted but before the final sale.

Water Resistive Barriers

A layer installed on the exterior walls of a home to prevent water from penetrating the building’s structure.

X

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Y

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Z

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