Real estate people, can you answer these short questions?

PM: Real estate people, can you answer these short questions?
What do these words, or terms mean in real estate:

“no convenants”
“walk out basement”
“patio home”
“short sale”

thank you for you time

Answers and Views:

Answer by yackycritter
A short sale is when you sell the house for less than you owe. This has to be agreed upon by the bank.

A patio home is usually connected to another home.

Covenants are restrictions in the community as to what you can do with your property.

Don’t know about walk out basements. Probably has a door.

Answer by godged
No convenants means it is not in a community (i.e. subdivision) that has restrictions on how to use your property, what color you can paint your house, if you can build a shed, etc., etc..

Walk out basement means that it has a basement door that accesses the outside. You don’t have to walk through the house. Some houses have both, inside and outside basement access.

Patio home sometimes means it is attached to another house, sort of like a town house.

Short sale means it has to work through a lender and meet their terms. Usually, the owner is facing foreclosure and wants to do a short sale to try to salvage something from the purchase of the property and their credit rating.