Real Estate City Glossary

Real Estate City Glossary S
(Slab - Syndication)

A1 | A2 | A3 | A4 | B1 | B2 | B3 | C1 | C2 | C3 | D1 | D2 | E1 | E2 | F1 | F2 | F3 |
G1 | G2 | H1 | H2 | I1 | I2 | J | K | L1 | L2 | L3 | M1 | M2 | M3 | N | O1 | O2
| P1 | P2 | Q | R1 | R2 | S1 | S2 | T1 | T2 | U | V1 | V2 | W1 | W2 | X | Y | Z

Slab
The reinforced concrete floor between beams, columns or walls as any large thin area of concrete such as a wall or balcony.

Slum Area
Depressed and poorly kept locality, with vacant building, which may also be a high crime area. Poor and homeless often live in slum areas.

Soft Costs
Costs of constructing a building or other development project, other than the costs of building the actual physical structure.

Special Deposit Account
An account that is established for rehabilitation mortgages to hold the funds needed for the rehabilitation work so they can be disbursed from time to time as particular portions of the work are completed.

Standard Payment Calculation
The method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.

Step-rate Mortgage
A mortgage that allows for the interest rate to increase according to a specified schedule, resulting in increased payments as well. At the end of the specified period, the rate and payments will remain constant for the remainder of the loan.

Subdivision
A housing development that is created by dividing a tract of land into individual lots for sale or lease.

Sud Flooor
Transmits live loads of people and furishings to the floor joists.

Subordinate Financing
Any mortgage or other lien that has a priority that is lower than that of the first mortgage.

Sump Pump
A pump used to lift storm water from a low spot into a storm sewer or other discharge point away from the structure.

Survey
A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features.

Sweat Equity
Contribution to the construction or rehabilitation of a property in the form of labor or services rather than cash.

Syndication
An association of individual formed for the purpose owing, and operating large parcels of property for the mutual benefit of all.