Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

English 3 Voc > Real estate > Flashcards

Real estate Flashcards

You may prefer our related Brainscape-certified flashcards:
Proverbs and Idioms flashcards
1
Q

Come into the possession of something concrete or abstract

A

Acquire

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

something gained

A

Acquisition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

A representative who acts on behalf of others

A

Agent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

A statement that is added to a proposal or document

A

Amendment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

A professional person authorized to practice law

A

Attorney

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The interest rate for…… changes periodically. You might start with lower monthly payment then you would with (fixed…), but fluctuating interest rates will likely make those payments rise in the future.

A

ARM
Adjustable- rate mortgage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

This is the date your mortgage begins to accrue interest. It usually falls on the first day of the month after mortgage funds are advanced or dispersed to the borrower.

A

Adjustment date

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The schedule of your mortgage payments spread out over time. In real estate, a buyer’s….. is usually one monthly payment schedules over 15 or 30 year period of time

A

Amortization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The amount of interest charged on you loan every year

A

APR
annual percentage rate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

An …. on your home is an unbiased estimate of how much a home is worth.

When buying a house , the lender requires an… by a third party …. to make sure the loan amount requested is accurate. If the homes … value is below what the buyer has offered, the lender may request the buyer to pay the difference in cost.

A

Appraisal

Appraiser

Appraised value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

The amount a home increases in value over time

A

Appreciation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The value assigned to a property by a tax assessor for the purpose of determining property taxes

A

Assessed value

Assessor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

The process of evaluating and determining the value op property for tax purpose

A

Assessment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The failure of one party to fulfill a legal duty

A

Breach of contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

a short-term loan a homeowner takes out against their property to finance the purchase of another property. Usuaally for a period of few weeks to three years

A

Bridge loan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

A businessman who buys or sells for another

A

A broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

A separate section of a legal document

A

Clause

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The final stage of the real estate transaction

On…. the property is legally treanseferred from seller to buyer

A

Closing
Closing date

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Connected with or engaged in the exchange of goods

A

Commercial

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Refers to property acquired by a married couple and owned squally by both spouses

A

Community property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Used by an appraiser to establish how much a hoe is worth based on what other similar homes in the area have sold for recently

A

Comparable sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

A short term loan used to finance the construction of a home or real estate project. This type of loan covers private costs before long term funding can be financed

A

Construction loan
Self-build loan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

A binding agreement that is enforceable by law

A

Contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Hello suppliers to take advantage off low interest rates by receiving a loan at a teaser loan interest rate. The monthly mortgage payment stays the same, but interest rates fluctuate. The borrower has the option of converting their ARM to fixed rate mortgage, but there are generally fears for the switch.

A

Convertible ARM
A convertible adjustable rate mortgage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

The legal document determines who has ownership of a property. This is the document transferred from seller to buyer at closing.

A

Deed 

26
Q

A failing or deficiency

A

Defect

27
Q

The distance down, back or in

A

Depth

28
Q

Someone who develops real estate

A

Developer

29
Q

flow of air, it can feel like a breeze

A

Draft

30
Q

The amount of cash a homebuyer pays at the time of closing

A

The down payment

31
Q

A situation in real estate where a property owner violates the property rights of his neighbour by building on or extending a structure to the neighbours land or property

A

Encroachment

32
Q

Making sure rules or laws are followed

A

Enforcement 

33
Q

A large piece of land owned by someone

A

Estate

34
Q

A person who is authorised to act as an agent for the sale of land

A

Estate agent

35
Q

Forcing someone, usually a renter come up to leave a property

A

Eviction

36
Q

Large in size, area, or amount

A

Extensive

37
Q

When a lender takes back and sells a home because the owner can’t make payments

A

Foreclosure

38
Q

One of the most common types of loans it comes with an interest rates that stays the same for the lifetime of the loan

A

A fixed-rate mortgage

39
Q

A property that are real estate agent is selling. The agent gets a commission when the property sells

A

For Sale By Agent

40
Q

Homes being sold without the help of a real estate agent. The benefit is that they avoid paying a commission. 

A

For sale by owner
FSBO

41
Q

The solid part of the earths surface

A

Ground

42
Q

Someone who owns a home

A

Homeowner

43
Q

Someone who commits capital to gain financial returns

A

Investor

44
Q

A property owner who leases property or housing to others

A

Landlord

45
Q

A legal case brought by someone in court to seek a solution or compensation

A

Lawsuit

46
Q

A contract granting use or occupation of property

A

Lease 

47
Q

Anything that is owed to someone else

A

Liabilities

48
Q

The right to keep possession of the property belonging of another person until a dept owed by that person is the discharged

A

Lien

49
Q

A legal process or case in court

A

Litigation

50
Q

A person who owns something

A

Owner

51
Q

Something owned

A

Property

52
Q

An annual or semi-annual text paid to one or more government agencies based on the property value assessment

A

Property Tax

53
Q

Acquire by means of a financial transaction

A

Purchase

54
Q

A person who buys

A

Purchaser

55
Q

Property consisting of houses and land

A

Real estate

56
Q

Someone who is licensed to negotiate and coordinate the buying and selling of real estate transactions

A

Real estate agent

57
Q

A person who helps sell land or property and who manages real estate agents

A

Real estate broker

58
Q

An inspection using a camera on a flexible line to check the inside of sewer for issues like cracks blockages or damage

A

Sewer inspections

sewer= riool

59
Q

Someone who pays rent to use property owned by someone else

A

Tenant

60
Q

Leave behind empty; move out of 

A

Vacate

English 3 Voc (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions