Earnest MoneyMoney given to a seller by a buyer to demonstrate the buyer’s good faith. If the deal falls through, the deposit is usually forfeited.
Earnest Money (Deposit)The deposit to show that you're committed to buying the home. The deposit will not be refunded to you after the seller accepts your offer, unless one of…
Earnings Per Share (EPS)Earnings per share (EPS) is calculated by dividing a company's total earnings by the number of outstanding shares.
EasementA right to the use of, or access to, land owned by another.
EasementsThe legal rights that give someone other than the owner access to use property for a specific purpose.
Economic development areaAn area defined by local authorities for govemment-assisted economic programs.
Ecotox Thresholds (ET)Ecotox Thresholds (ET) are defined as media-specific contaminant concentrations above which there is sufficient concern regarding adverse ecological…
EEMEnergy Efficient Mortgage; an FHA program that helps homebuyers save money on utility bills by enabling them to finance the cost of adding energy…
Egg and dartAn ornamental band molding of egg forms alternating with dart forms.
ElevationA drawing of a face of a building with all the features shown, as if in a single vertical plane
Emergency Economic Stabilization Act (EESA)A 2008 statute that authorized the U.S. Department of the Treasury to undertake specific measures to provide stability and prevent disruption in the…
Emergency Home Finance Act of 1970The Emergency Home Finance Act of 1970 created Freddie Mac and authorized it to create a secondary market for conventional mortgages.
Emergency Response (ER)The U.S. EPA's Emergency Response (ER) Program coordinates and implements a wide range of activities to ensure that adequate and timely response measures…
Emergency Response Notification System (ERNS)The Emergency Response Notification System (ERNS) is a database used to store information on notifications of oil discharges and hazardous substances…
Eminent DomainWhen a government takes private property for public use. The owner receives payment for its fair market value.
Employer-Assisted HousingA program in which companies assist their employees in purchasing homes by providing assistance with the down payment, closing costs, or monthly payments.
EncroachmentThe intrusion onto another's property without right or permission.
EncroachmentsA structure that extends over the legal property line on to another individual's property.
EncumbranceAny claim on a property, such as a lien, mortgage or easement.
End loanSame or similar to "construction loan." See also "construction loan."
EnframementA general term referring to any elements surrounding a window or door.
EngineerAny individual, partnership, corporation or other legal entity licensed to practice the profession of engineering under the education law of the State of…
English bondA pattern of brickwork with alternate courses of headers and stretchers.
EntablatureA major horizontal member carried by a column(s) or pilaster(s); it consists of an architrave, a frieze, and a cornice.
Entrance recessThe recessed opening in the facade leading up to the doorway of a storefront or building entrance.
Environmental Justice (EJ)Environmental Justice (EJ) is the fair treatment and meaningful involvement of all people regardless of race, color, national origin, or income with…
Environmental Protection Agency (EPA)Environmental Protection Agency (EPA) was established as an independent agency on December 2, 1970 during President Nixon's term in office.
Environmental Response Team (ERT)In 1978, the Environmental Response Team (ERT) was established under Section 311 of the Clean Water Act to provide on-site national expert as required by…
Equal Credit Opportunity ActA federal law prohibiting lenders and other creditors from discrimination based on race, color, sex, religion, national origin, age, marital status…
Equal Credit Opportunity Act (ECOA)Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or…
EquityAnother word for "stock." It represents an ownership interest by shareholders in a corporation.
Equity loanSame or similar to "home equity line of credit." See also "home equity line of credit" under "mortgage."
Equity strippingThe lender encourages you to borrow heavily from the equity in your home (the amount you own free and clear of your mortgage) as an easy way to get…
Escape ClauseA provision allowing one party or more to cancel all or part of the contract if certain events fail to happen, such as the ability of the buyer to obtain…
EscrowA financial instrument held by a third party on behalf of the other two parties in a transaction.
Escrow AccountAn account that serves a specific purpose, which ends when a certain condition is met or a certain event occurs.
Escrow AnalysisThe periodic examination of escrow accounts by a mortgage company to verify that monthly deposits are sufficient to pay taxes, insurance, and other…
EstablishmentAn economic unit-business or industrial-at a single geographic location, where business is conducted or where services or industrial operations are…
EstateYour estate is what you leave behind, financially speaking, when you die. To figure its worth, your assets are valued to determine your gross estate.
EvictionThe legal act of removing someone from real property.
Exclusive ListingA written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.
ExecutorA person named in a will and approved by a probate court to administer the deposition of an estate in accordance with the instructions of the will.
Existing windowsThe windows existing at the time of designation or windows which have been changed subsequent to designation pursuant to a permit issued by the Commission.
Eyebrow dormerA curved dormer with no sides, covered by a smooth protrusion from the sloping roof.