A home's surroundings can range from a shrub-studded emerald lawn to a native-plant xeriscape. It is one major component of curb appeal.
Landscape architect
A professional who holds a degree in landscape architecture, which involves training in horticulture, landscape design and planning.
Landscape contractor
A professional who carries out the plans of a landscape architect or a landscape designer.
Landscape designer
A landscape designer has training in horticulture and landscape planning, but does not necessarily hold a degree.
Late charge
A fee a lender imposes on a borrower when the borrower does not make a payment on time.
Late payment
A payment a lender receives after the due date has passed.
Latent defect
An invisible problem in a piece of propertysuch as bad wiring, termite damage or lead paint
Lead
A metallic chemical element present in older dwellings, primarily in the form of lead-based paint and lead plumbing. Exposure to lead has been found to be a health risk.
Lease
A binding agreement that contains the terms and conditions of a renter's occupancy.
Lease option
A lease that contains the right to purchase the property for a specific price within a certain time frame
Leasehold estate
An arrangement in which the borrower does not own a specific piece of property but possesses a long-term lease .
Legal blemish
Blemishes on a piece of property, such as a zoning violation or fraudulent title claim.
Legal description
A specific way of identifying and locating a piece of real estate that is acceptable to a court.
Lender
A bank, savings institution or mortgage company that offers home loans.
Letter of intent
A formal statement by a buyer that they intend to purchase the property for a certain price on a certain date.
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