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Real Estate Glossary

What does Homeowners' Warranty mean?

A homeowners' warranty, also called a builder's warranty or new construction warranty, is a type of warranty offered by a builder or developer to a new home buyer, that covers defects in workmanship or materials that may occur during the first year of ownership. It covers the cost of repairs and replacements of appliances, systems, and structures that fail due to defective materials or workmanship, such as electrical issues, plumbing leaks and roof leaks.

Adjustment Period

Assessment

Blanket Mortgage

Buyer's Market

Credit Report

Domed Ceiling

Dropped Ceiling

Endorser

Exclusive Right to Sell

Financing Contingency

Foreclosure

Modified Gross

Partnership

Real Property

Semi-Custom Home

The 72-Hour Clause

Voluntary Lien

Yield Rate

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
Beycome Corp. holds real estate brokerage licenses in Multiple States: Beycome of Florida LLC is licensed in FL. Beycome Brokerage Realty Inc is licensed in CA. Beycome of Connecticut in CT. Beycome Brokerage Realty LLC is licensed in AL, GA, IL, IN, MI, MN, NC, OH, SC, TN and TX.
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IDX© information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate.

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Beycome fully supports the Equal Housing Opportunity laws.

Artur

Real Estate Assistant