Soil used to solidify the foundation of a structure.
Back title letter
A letter that a title insurance company gives to an attorney who then examines the title for insurance purposes.
Back-to-back escrow
Arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time.
Backup offer
A secondary bid for a propertythat is accepted if the first offer fails.
Backwater valve
A valve in a sewer line that prevents sewage from flowing back into a house.
Balance sheet
A statement that shows the assets, liabilities and net worth of an individual.
Balloon loan
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Balloon payment
The final lump sum payment due at the end of a balloon mortgage.
Balloon-frame construction
A type of framing used in two-story homes in which studs extend from the ground to the ceiling of the second floor.
Balustrade
Railing held up by a set of posts on a porch or stairway.
Bankruptcy
A proceeding in which an insolvent debtor can obtain relief from payment of certain obligations. Bankruptcies remain on a credit record for seven years and can severely limit a person's ability to borrow.
Bargain sale
The sale of a piece of property for less than market value.
Baseboard
Any board or molding found at the bottom of an interior wall.
Baseboard electric heat
Heating units installed in the floor that can be controlled by a central thermostat.
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