Carriage Trade

Definition

The ultra-wealthy clientele who buy luxury real estate, named after the aristocracy who rode in horse-drawn carriages. Modern version: they Uber.

Example Usage

That beachfront estate is definitely carriage trade property.

Origin

19th-century term for wealthy aristocrats who could afford carriages

Fun Fact

Luxury real estate agents use this term to describe properties marketed to ultra-high-net-worth individuals (typically $50M+ net worth).

Source: Luxury Real Estate Institute

Related Terms

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Lot

The land under your house, measured in square feet and scrutinized obsessively by buyers wondering if there's enough room for that pool they'll never build.

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Offset

An adjustment in property boundaries or a construction deviation from the original plan—basically 'whoops, we built it slightly wrong but we're calling it intentional.' Common in surveys and surveys.

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clear to close

The glorious moment when underwriting has approved all conditions and you're authorized to actually close on the property. It's the green light you've been praying for after weeks of document requests.

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Stale Listing

A property listed for sale that remains unsold for an extended period—basically real estate's version of yesterday's news.

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restrictions

The legal fine print that tells you what you can't do with your property, crushing dreams of backyard chicken coops and neon pink houses since time immemorial. These are the rules embedded in deeds, HOA bylaws, or zoning laws that limit how you can use or modify property. They're the reason you need to ask permission to build that treehouse in your own yard.

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Contingent Offer

An offer with conditions that must be met—basically 'I'll buy this if it doesn't fall apart when I inspect it.'

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