Glossary - Terms - Return

	Parcel

	Partition

	Partnership

	Passive loss

	Passive solar system

	Patent defect

	Payment cap

	Percolation test

	Per-diem interest

	Panel

	Paneling

	Parking strip

	Partition

	Patio

	Perennial

	Pergola

	Personal property

	Pest-control inspection

	Pier

	PITI (Principal, Interest, Taxes, Insurance)

	Planned communities

	Planned-unit development

	Plaster

	Pocket door

	Point

	Porch

	Porte cochere

	Portfolio lender

	Portico

	Possession

	Power of attorney

	Pre-approval letter

	Prepaid expenses

	Prepaid interest

	Prepayment penalty

	Prequalification

	Pre-sold home

	Pressure relief valve

	Price range

	Primer

	Principal

	Principle of conformity

	Principle of progression

	Principle of regression

	Privacy fence

	Private mortgage insurance (PMI)

	Probate sale

	Production home

	Programming

	Project budget

	Property line

	Property report

	Property tax

	Property tax deduction

	Property value

	Proration

	Punch list

	Purchase agreement

	Purchase-money mortgage

CENTURY 21 Selmar Realty 96 E. Main St. East Islip, New York 11730 Ph: 631-277-0900