key lot The least desirable lot in a subdivision. One side of a key lot may be abutted by the rear of other lots.
kick-out clause A clause in a real estate purchase agreement that gives the seller the option to terminate an existing contract to accept a backup offer. A seller may demand such a clause if the present buyers must wait to sell their present home before completing purchase of the seller’s home. Although conceivable, such a clause in a contract for the purchase of commercial property would be unlikely.
kicker A percentage of the net income from a property demanded by a commercial lender in addition to interest on the loan. An additional benefit, or "kicker," paid to a lender for the use of the money. See equity kicker.
kiosk A small, drive-through restaurant with a limited menu, such as hot dogs and beverages. Kiosks are built on only 400 to 500 square foot lots, usually at the edge of a shopping center. No inside customer seating is available.
kiss Keep It Simple Stupid. Lenders prefer "kiss" deals, that is, loans that can be processed easily without unusual terms or snags. Refis of existing loans on well leased and managed buildings are an example.
kit homes Any partially pre-built home delivered to a site. Some professionals refer to kit home as modular, packaged, panelled pre-cut, or prefabricated. Do-it-yourselfers often act as their own contractor and complete kit homes to save money. Essentially they go together like Tinkertoys, although some arrive at the site substantially completed. All that remains is to bolt sections together, hook up plumbing and electricity and move in. See also modular home, panelized home, and prefabricated home.