Real Estate Terminology

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Questions and Answers

Which term refers to a loan specifically used to purchase real estate?

Mortgage (correct)
Lease
Down payment
Sale Agreement

The term 'tenant' refers to the owner of a property that is being leased.

False (B)

What is the initial payment made by a buyer when purchasing a property called?

Down payment

The person who rents out a property to another is known as the ______.

landlord Signup and view all the answers

Match the following terms with their descriptions:

Property = A piece of land or real estate Real Estate = The business of buying, selling, or renting land or buildings Lease = A contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for a periodic payment Sale Agreement = A contract between a buyer and seller for the sale of property Signup and view all the answers

When showing a property, which of the following phrases is BEST suited to engage a potential client?

"How can I assist you today?" (A) Signup and view all the answers

The phrase 'The property is located in a prime area' is an effective description to highlight a property's advantageous location.

True (A) Signup and view all the answers

What financial metric represents the cost of borrowing money to purchase a property?

Interest rate Signup and view all the answers

The expenses incurred during the final stage of a real estate transaction are referred to as ______ costs.

closing Signup and view all the answers

Match the following negotiation phrases with their meaning:

"We can negotiate the price." = Indicates a willingness to discuss and potentially lower the initial price. "The asking price is..." = States the initial price set by the seller for the property. Signup and view all the answers

Which phrase BEST describes an appealing feature in a real estate advertisement?

"Spacious 2-bedroom apartment with stunning views" (A) Signup and view all the answers

Advertising a property as 'Fully furnished' means that it is available for sale only.

False (B) Signup and view all the answers

What is a 'Sale Agreement'?

A contract between a buyer and seller for the sale of a property Signup and view all the answers

A real estate professional might say, "Would you like to ______ a property viewing?" to a potential client.

schedule Signup and view all the answers

Which of the following represents the most comprehensive term encompassing land and any structures on it?

Property (A) Signup and view all the answers

Negotiating the price is a common part of a real estate transaction.

True (A) Signup and view all the answers

What does 'Real Estate' broadly refer to?

The business of buying, selling, or renting land or buildings Signup and view all the answers

The percentage charged on a loan is known as the ______ rate.

interest Signup and view all the answers

Match the following terms with their respective roles in a lease agreement:

Tenant = The party who rents the property Landlord = The party who owns and rents out the property Signup and view all the answers

In real estate, what does 'fully furnished' typically imply about a property?

It has all necessary furniture and appliances for immediate occupancy. (D) Signup and view all the answers

Flashcards

Property (عقار)

A tangible asset consisting of land and any improvements or structures on it.

Real Estate (قطاع العقارات)

The business of buying, selling, or renting land or buildings.