Move-In Ready

Definition

A listing claim meaning the house won't literally collapse when you walk through the door. The bar is on the floor, and the house has technically cleared it. Bring your own standards, because the seller already lowered theirs.

Example Usage

"Move-in ready meant the lights turned on and water came out of the faucets. Both at the same time, though, which was concerning." - A homeowner with expectations

Related Terms

Intermediate

proforma

A financial forecast showing what a property could theoretically earn under perfect conditions with perfect tenants in a perfect world. The real estate equivalent of a dating profile.

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Intermediate

commingling

The illegal practice of mixing client funds (like earnest money) with personal or business operating accounts, a violation that can cost real estate agents their licenses. It's the financial equivalent of inviting the state licensing board to audit your worst decisions.

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Intermediate

Fair Market Value

A completely made-up number that everyone pretends is scientific because an appraiser with a clipboard said so. It's "fair" the same way a casino is "fair" -- technically accurate but someone always feels robbed.

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liens

A legal claim on someone's property that says 'you owe me money, and I'm holding this hostage until you pay up.' These financial handcuffs ensure creditors get paid before you can sell or refinance. Think of it as a sticky note from the law that won't come off until the debt is settled.

🏠 Real Estate

Advanced

debt service coverage ratio

A metric comparing property income to debt payments, calculated by dividing net operating income by annual debt service. Commercial lenders worship this number, typically requiring 1.25 or higher to prove you can actually afford the loan.

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Advanced

cadastral map

A comprehensive, scale-accurate map showing property boundaries, ownership parcels, and sometimes tax assessments for an entire jurisdiction. Think of it as the government's meticulous diagram of who owns every square inch of land.

🏠 Real Estate

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