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Houston Mortgage > Glossary >
Mortgage > B 51-60
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Brokerage
The business or office of a broker, one who earns a commission or fee for bringing together buyers and sellers of real estate, or borrowers and lenders of mortgages.
Broom clean
Ready to be cleaned and painted. The term does not mean immaculate or spotless or even necessarily clean.
Bubble
In real estate or housing terminology, a rapid increase in home prices followed by a steep decline. Housing bubbles are uncommon. Most booms end when home prices plateau for a few years. Bubbles occur in only about 20 percent of booms.
Buffer strip
1. A strip of grass or legumes between a parcel and a stream, to protect the stream from runoff, especially runoff containing fertilizer. 2. Land separating two pieces of property.
Builder upgrades
Refined features or materials that a builder offers for an extra charge.
Building and loan association
A financial institution designed to help members finance real-estate transactions.
Building code
Regulations that govern design and materials used in construction.
Building inspector
A local government employee who enforces the building code and makes sure construction and renovation work is done properly.
Building moratorium
A temporary or permanent halt on construction.
Building permit
Authorization by a local government to construct or repair a structure.
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