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Real Estate Dictionary, “I” is for Inactive
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Knowledge is Power — Real Estate Dictionary
My mother told me that houses are not considered liquid investments, they are illiquid. This means that real 
estate cannot be quickly converted to cash.
My Colorado Springs Real Estate agent put her license on inactive. What does this mean? Colorado does allow Realtors put their license on inactive, which means that your Realtor cannot conduct business because her license is not active. You’ll hear people also refer to this as putting their license in “Ice”
I’m helping my grandmother sell her house in the Old Colorado City in Colorado Springs, and my brother said she is incompetent to make this decision, not sure what he means. Incompetence refers to a person who is not insane but is mentally incapable by reason of old age, disease, weakness of mind and by could easily be misled. You may want to contact legal counsel to get a more complete description.
My father told me to look at the infrastructure of a new sub division in Peyton, on the eastern side of Colorado Springs, and I’m not what I should be looking for. The infrastructure refers to the physical structure of the subdivision, including roads, sewage and draining, highways, etc.
The Colorado Springs title company paperwork said there is an involuntary lien on the property, what’s this? An involuntary lien is created by law; such as a mechanics lien, or a tax lien. Ask your Colorado Springs Realtor or the Title Company for a more comprehensive explanation.
My Colorado Springs Realtor told me that I can’t consider a room in my house a bedroom but it does have ingress; what is he talking about? Ingress means that it must have a separate entrance.
I’m looking at buying an older house that was built in the 1940’s; do I need to check the insulation? Yes, it’s a good idea to have your home inspector check the insulation in the house. The term insulation refers to the heat-retarding material applied in outside walls, top-floor ceilings, or roofs to prevent the passage of heat or cold into or out of a building.
My dad said that my grandmother died intestate, what is this? Intestate means that your grandmother died without leaving a legal will.
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