Early Occupancy
Early Termination Charge
Early Withdrawal Penalty
Earnest Money
Earnest Money Deposit
Easement
Effective Age
Effective Date
EFT
Electronic Funds Transfer
Eminent Domain
Encroachment
Encumbrance
Endorsement
Equal Opportunity Act
Equifax
Equity
Equity Sharing
Escheat
Escrow
Escrow Account
Escrow Closing
Estate
Eviction
Exception
Exchange
Exclusive Listing
Executor
Experian
External Obsolescence

Early Occupancy
A condition negotiated between buyer and seller where the seller allows the buyer to move in earlier than the actual closing of the purchase of the property.

Early Termination Charge
A fee charged by the lender if a loan is paid back earlier than the terms allow.

Early Withdrawal Penalty
A fee enforced if funds are withdrawn earlier than account terms allow. This is often used for 401Ks.

Earnest Deposit
An abbreviated version of earnest money deposit.

Earnest Money Deposit
Money given by a buyer when making a formal real estate offer in order to show the seller the buyer's serious intention to purchase.

Easement
The right to enter or use someone else's property.

Effective Age
An appraiser's opinion of the condition of the building, in years, regardless of the actual age of the property.

Effective Date
The date on which a newly adjusted interest rate will begin taking effect.

EFT
An abbreviation for electronic funds transfer.

Electronic Funds Transfer (EFT)
The transfer between accounts by electronic systems such as ATMs, online bill pays, etc.

Eminent Domain
The right of the government to seize private property for public use. Remember that upon doing this the government is required to pay the owner a fair market value for the property or just compensation.

Encroachment
An improvement of a property that illegally passes legal borders or boundaries of the property, impeding on a neighbor's use of their own property.

Encumbrance
A lien, debt, or liability against the property. This is most often created by third parties that have not been paid for finished services such as contractors, servicemen, etc.

Endorsement
An addition to a title insurance policy adding or subtracting to the policy itself.

Equal Opportunity Act
Federal law that prohibits discrimination based on race, color, religion, sex, national origin, age, marital status, or source of income.

Equifax
One of the three major reporting credit bureaus. The other two are TransUnion and Experian.

Equity
The value of a home not attached to any form of financing. The equity of a property is calculated by subtracting the existing loan amount from the fair market value of the property. For example: A house is worth $500,000. It has a loan for $300,000 on it. The owner therefore has $200,000 in equity in the home.

Equity Sharing
Joint ownership of a property resulting in tax and equity advantages and profits by all parties involved in the investment.

Escheat
The transfer of a property to the state after the owner dies without leaving behind a will or immediate heirs.

Escrow
An account held by a neutral third praty during a real estate transaction, where all funds and documents are held until all conditions of the sale are met and the actual sale is completed.

Escrow Account
A money account from which property taxes and homeowner's insurance are paid. Additional funds are added every time a mortgage payment is paid.

Escrow Closing
At the end of the transaction this "closing" occurs. The title of the property is transferred to the new owner.

Estate
Refers to all the property one owns including real estate and personal property.

Eviction
The act of a landlord or property management company kicking a tenant or anyone out of a living unit or property. This can only be done if the terms of the lease have been violated in some way.

Exception
A lender consideration to approve a loan that may have a situation or characteristic(s) that do not fall under normal lender guidelines.

Exchange
A trade of property for another property or properties. A frequent type of exchange is the 1031 exchange where investors in real estate exchange one property for another similar type of property to prevent significant tax assessments and payments.

Exclusive Listing
A legal agreement between seller and real estate agent allowing the real estate agent a certain amount of time to sell a property to the satisfaction of the client. Throughout the entire process the client retains his or her own right to sell the property on his or her own without paying a commission to the real estate agent.

Executor
A person named in the will to carry out its provisions.

Experian
One of the three major credit scoring bureaus. The other two are TransUnion and Equifax.

External Obsolescence
A negative influence affecting a property's value falling outside the property itself. There is nothing the owner of the property can do to improve or avoid this influence.