Charming

Beginner 🏠 Real Estate

Definition

A listing adjective that means the house is old, small, or both, but has at least one original feature the agent can romanticize. Translation: nothing has been updated since the Carter administration, but look at these original hardwood floors.

Example Usage

"The agent said the kitchen was charming. It had one outlet, a cast iron sink, and an oven from a decade I couldn't identify. I was charmed into running away." - A modern amenity enthusiast

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condominium declaration

The master legal document that transforms a building from a single property into individual units that can be separately owned. It's the legal spell that lets you own apartment 3B without owning the whole building.

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vacancy rate

The percentage of rentable space sitting empty and generating zero income, serving as a referendum on your property's appeal and your pricing strategy. Low is good; high means you're bleeding money.

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assignment of contract

The legal sleight of hand where a buyer transfers their purchase contract to another buyer before closing, often used by wholesalers who never intended to own the property. It's contract flipping without the renovation show.

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subject property

The specific property being appraised, analyzed, or discussed, as opposed to all those comparison properties. It's like referring to the guest of honor at a party—everyone else is just there for context.

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drive-by

A quick exterior assessment of a property from your vehicle, because sometimes you can tell from the street that 'charming fixer-upper' means 'condemned by next Tuesday.' It's the real estate version of swiping left.

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rent roll

A spreadsheet listing all tenants in a rental property along with their lease terms, payment history, and unit details—basically the property's financial DNA. It's the first thing savvy investors scrutinize when evaluating a deal.

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slayaway

The romantic equivalent of putting leftovers in the freezer for later—keeping someone interested on standby for future...