Beveled Siding
Also known as clapboard, this siding, which is angled, consists of long beveled boards.

Bid Price
Price a purchaser is willing to pay for a certain item.

Bid Time
Time between asking for a bid and when it is due to be received.

Bidding War
Multiple offers to purchase a piece of property or a house or competition between realtors for the listing of a piece of property or house.

Bilateral Contract
A reciprocal contract in which the parties involved give mutual promises.

Bilateral Listing
Agreement between broker and seller agreeing on mutual performance, the broker to advertise at the agreed upon terms and the seller to sell the listed property. It may also mean listing two separate realtors.

Bill of Material
Listing of parts of an item as shown in a drawing.

Bill of Sale
A document transferring ownership.

Biweekly Mortgage
Mortgage that is paid every two weeks, rather than monthly, thus repaying the loan more quickly.

Black Iron
Iron without any finish on it, which is really gray-black in color.

Blanket Insurance Policy
Insurance policy covering multiple persons or pieces of property.

Blanket Mortgage
A mortgage covering more than one property owned by the same owner.

Blended Loan
Mortgage refinancing in which the new interest rate takes into account the interest rate on the prior loan and the prevailing current market rate.

Blended Rate
Interest rate of a blended loan, which exceeds the rate on the old loan but is less than the rate on new loans.