New York Real Estate Glossary F
(First Refusal Right - Foliated)
A1 | A2
| A3 | A4 | B1 | B2 | B3
| C1 | C2 | C3
| D1 | D2 | E1
| E2 | F1 | F2
| F3 |
G1 | G2 | H1
| H2 | I1 | I2
| J | K | L1
| L2 | L3 | M1
| M2 | M3 | N
| O1 | O2
| P1 | P2 | Q
| R1 | R2 | S1
| S2 | T1 | T2
| U | V1 | V2
| W1 | W2 | X
| Y | Z
First Refusal Right
Being offered the right to buy something before it is offered to others.
The opportunity of a party to match the terms of a proposed contract
before the contract is executed.
Also called long-term assets, they are assets such as office equipment
that can be depreciated.
Those expenses which remain the same regardless of circumstances.
Monthly home loan payments.
Fixed Payment Mortgage
A loan secured by real estate, which features a periodic payment of
interest, and principal, which is constant over the term of the loan.
All fixed payment mortgages are fixed rate mortgages, but some fixed
rate mortgages may have variable payments, such as a graduated payment
Fixed Rate Mortgage
Loan with an interest rate that remains at a specific rate for the entire
loan. Approximately 75 per cent of home mortgages are this type.
Flexible Payment Mortgage
Loan allowing the borrower to pay only the interest for the first few
years of the loan.
The minimum amount of money a lender is willing to provide on a commercial
loan for a building that is to be tenant occupied. This loan is progressively
funded as the building is constructed and occupied.
The arrangement of rooms in a structure. A two-dimensional scale drawing
of the arrangements, size and orientation of doors, rooms, walls, and
windows of a single floor of a building structure.
Patterned wood flooring, inlaid in geometric forms of contrasting woods.
Door that is manufactured in multiple sections that are hinged and fold
back as they are slid open. Ceiling tract mounting is preferable so
that the weight of the doors can be held more firmly and without sag.
Room divider, which is hinged, and folds back to the wall as it is slid
open. Ceiling tract mounting is preferable so that the weight of the
divider can be held more firmly and without sag.
Ruler that folds into itself, by hinges at intervals, and which can
be extended to measure.
Retractable stairway that folds up into an overhead opening, when not
in use. Often used as attic stairs, they can be pulled down for use
and stored out of the way at other times.
Decorated surface with a leaf design.