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Real Estate Terms starting with (K)

The Following are real estate terms and topics: Starting With the Letter (K)

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Are you confused and overwhelmed by the extensive terms and words used in real estate? Every person working in real estate or planning to buy or sell real estate can benefit from learning some of the terms….

Real Estate Terms K

Real Estate Terms K

Keogh - A retirement plan for self-employed individuals. Similar to an IRA, contributions may be deductible and the tax liability is deferred until the funds are withdrawn; sometimes known as HR 10 plans.

Keystone - A keystone is the architectural piece at the crown of a vault or arch and marks its apex, locking the other pieces into position.

Key lot - A tract of land, which sells for a high price because of its desirable location.

Kick Out Clause - A clause in a sales contract that allows a seller to accept one buyer’s contingent offer, then back out without penalty if a second buyer makes a better offer.

Kit Home - Structure containing prefabricated parts, which is assembled by a contractor. Some professionals refer to kit home as modular, packaged, paneled pre-cut, or prefabricated.

Kitchenette – A Tiny kitchen area that is often built into the end of another room such as a room in an efficiency apartment. Kitchenettes may not come with all of the standard kitchen appliances as well.

Knee wall - A short wall on an upper floor that is not regular height because a roof plane extends though its surface at a lower point. A knee wall is usually parallel to exterior walls but set in several feet from the outer surface.

Knob-and-tube Wiring - A wiring method using knobs and tubes for the support of simple insulated conductors, concealed in walls and ceilings.

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