prescriptive

Definition

A bossy word meaning based on rules or standards rather than what actually happens. In real estate law, it's the difference between 'this is how things should be done' versus 'this is how they're actually done'—very important for property rights and zoning regulations.

Example Usage

The HOA took a prescriptive approach to home modifications, requiring approval for any exterior changes.

Source: Merriam-Webster via Common Legal and Real Estate Usage

Related Terms

Intermediate

setback requirements

Zoning rules dictating the minimum distance a building must sit from property lines, streets, or other structures, preventing neighbors from building right up to your fence line. It's mandatory personal space for properties.

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Beginner

contractor

The person you hire when you want something built without the messy commitment of actual employment or the liability of their questionable choices. In real estate and construction, they're the orchestrators who either deliver your dream renovation or become the subject of your next lawsuit, depending largely on how thoroughly you checked their references. They exist in the sweet spot between skilled tradesperson and project manager, usually showing up exactly when they feel like it.

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Sellers Market

A hellscape for buyers where every listing gets 40 offers, homes sell for $200K over asking, and you have to write a love letter to the seller explaining why you deserve their split-level ranch. Sellers just sit back and watch the chaos.

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Beginner

commission

The beautiful moment when someone gets paid a percentage for making something happen, whether that's selling a house, brokering a deal, or convincing someone to buy timeshares. It's the financial incentive that turns salespeople into your new best friend until the contract is signed. In real estate, it's typically the 5-6% that makes agents answer your calls at 9 PM.

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Advanced

net rentable area

The actual square footage tenants can occupy and must pay for, excluding common areas, mechanical rooms, and structural elements. It's why your 'thousand square foot' office feels like eight hundred.

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Intermediate

arm

Adjustable-Rate Mortgage—a loan where the interest rate can fluctuate based on market conditions after an initial fixed period. It's the financial equivalent of a mystery box: exciting at first, potentially terrifying later.

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value-add

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