Cozy

Definition

Real estate code for a space so small that your bed IS the living room. If the listing says cozy, pack a magnifying glass for the viewing. Your furniture will need to audition for a spot, and not everyone is making the cast.

Example Usage

"The listing described the apartment as cozy. When I visited, I had to step outside to change my mind. There literally wasn't room to do it indoors." - A claustrophobic buyer

Related Terms

Advanced

replacement reserves

Funds set aside for replacing building components and systems that wear out over time, essential for multifamily and commercial property management. The 'we know the roof will eventually die' savings account.

🏠 Real Estate

Intermediate

foreclose

The bank's legal power move when you can't make mortgage payments, essentially repo'ing your house and evicting your dreams of homeownership. It's the financial equivalent of 'if I can't have you, nobody can,' except it's your lender and your property. The process involves courts, judgments, and that sinking feeling that you should have read the fine print.

🏠 Real Estate

Intermediate

seller financing

When the property seller acts as the bank because either the buyer can't get a traditional loan or the seller wants to collect interest payments. It's basically a handshake agreement with paperwork, beloved by people who can't qualify for mortgages and sellers who enjoy playing banker.

🏠 Real Estate

Intermediate

balloon payment

A large, final payment due at the end of a loan term that covers the remaining principal balance. Named for its tendency to inflate your anxiety levels right before it's due.

🏠 Real Estate

Advanced

deed in lieu

Deed in Lieu of Foreclosure—when a homeowner voluntarily transfers property ownership to the lender to avoid foreclosure proceedings. It's the real estate equivalent of quitting before you're fired.

🏠 Real Estate

Beginner

appraisal contingency

A buyer's escape hatch that lets them bail if a property doesn't appraise for the purchase price. The adult version of "I want my money back."

🏠 Real Estate

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