PilarRonderos.com - Pilar Ronderos

Term	Definition

Sale-leaseback	A transaction in which the buyer leases back the property to the seller for a specified period of time.

Sales contract	A contract signed by the buyer and sellerthat details the terms of a home purchase.

Saltbox style	A design that dates to colonial times and takes its name from the shape of saltboxes.

Sanitary sewer	The drain line in a house that carries away food and human wastewater to a municipal sewer system or a septic system.

Sash	One of two windows in a double-hung window.

Schematic designs	Renderings of floor plans and the exterior of a house.

Second mortgage	Another loan placed upon a piece of property.

Secondary mortgage market	A market of packaged home loans that are resold as securities to investors. Major players are Fannie Mae and Freddie Mac.

Secured loan	Any loan backed by collateral.

Security	Apiece of property designated as collateral.

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