The Wongsam Group - Richard and Vera Wongsam,CRS

Term	Definition

Call option	A clause in a loan agreement that allows a lender to ask for the balance at any time.

Can lights	Cylindrical chambers with bulbs recessed into the ceiling.

Cancellation clause	A clause that details the conditions under which each party may terminate the agreement.

Cantilever	A projecting structure supported on one end, such as a balcony.

Cap	A limit on the amount the interest rate or monthly payment can increase in an adjustable rate mortgage.

Cape Cod style	A wood-frame or shingled house with a steep roof and several windows projecting from the second floor.

Capital	Money used to create income, such as funds invested in rental property.

Capital expenditure	The cost of making improvements on a property.

Capital gains	Profits an investor makes from the sale of real estate or investments.

Capital gains tax	A tax placed on the profits from the sale of real estate or investments.

Capital improvement	Any improvement that extends the life or increases the value of a piece of property.

Capitalization	A mathematical formula, to compute the value of a property based on net income.

Capitalization rate	The percentage rate of return estimated from the net income of a piece of property.

Caravan	A group of real estate agents who tour a house that has been recently listed for sale.

Carport	A roof that covers a driveway or other parking area.

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