Glossary of Real Estate Terms

There are 125 entries in this glossary.
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E

Term Definition
Earnest Money Deposit

Earnest money deposit is the down payment that is made by a purchaser of real estate to show that he or she is serious about buying the house.

Eminent Domain

Eminent domain is the right of a government to acquire private for public use on the payment of its fair market value. It is the basis for the condemnation proceeding.

Encroachment

Encroachment is the presence of an improvement like a wall, a fence or other fixture which overlaps onto the property of an adjoining owner.

Equity

Equity is a homeowner's financial interest in a property. The difference between the fair market value of the property and the amount still owed on its mortgage and other liens is equity.

Escrow

Escrow is an item of value, money, or documents which is deposited with a third party to be delivered upon the fulfillment of a condition. For instance, the earnest money deposit is put into escrow until delivered to the seller when the transaction is closed

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