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Real Estate Dictionary

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Hazard Insurance:
A policy with coverage that compensates for physical damage to a property from wind, fire, vandalism, or other perils. Coverage should be equal to at least the replacement cost of the property to ensure that the home will be fully rebuilt in case of a total loss. Also referred to as Homeowner's Insurance.

Highrise:
A residential building equipped with elevators that exceeds six stories.

Historical Overviews:
Information about communities within a city based on past development, such as when a community was founded and how it has changed over the years.

Home Builder:
A service provider that specializes in building new homes.

Home Criteria:
The specific details of a home.

Home Details:
The specifics of a home, such as square footage, number of bedrooms and bathrooms and more.

Home Information:
The details about properties.

Home Inspection:
A thorough examination that evaluates the mechanical and structural condition of a property.

Home Warranty:
A type of insurance policy that covers repairs to specified parts of a house for a specific period. Also known as a Residential Service Contract.

Homeowner's Insurance:
A policy with coverage that compensates for physical damage to a property from wind, fire, vandalism or other perils. Coverage should be equal to at least the replacement cost of the property to ensure that the home will be fully rebuilt in case of a total loss. Also referred to as Hazard Insurance.

HUD:
An acronym for the Department of Housing and Urban Development.

Definitions are intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice. It is recommended that you consult with a qualified real estate attorney who can advise you specifically with respect to the requirements in your market.

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