Podcast
Questions and Answers
What is the term for 'Ground floor' in the UK?
What is the term for 'Ground floor' in the UK?
- Mezzanine level
- Basement level
- Street level (correct)
- First floor
What does 'Landlord or landlady' refer to?
What does 'Landlord or landlady' refer to?
- Property owner who rents to a tenant (correct)
- Property manager
- Property seller
- Property buyer
What is the term for 'Lift' in the UK?
What is the term for 'Lift' in the UK?
- Staircase
- Escalator
- Moving walkway
- Elevator (correct)
What does 'Tenant' mean in real estate?
What does 'Tenant' mean in real estate?
What does 'Let out' or 'Rent out' refer to?
What does 'Let out' or 'Rent out' refer to?
In real estate, what does 'Rent' mean?
In real estate, what does 'Rent' mean?
What does 'Storey' refer to in the UK?
What does 'Storey' refer to in the UK?
What is a 'Mortgage' in real estate?
What is a 'Mortgage' in real estate?
What does 'Appraisal' mean in real estate?
What does 'Appraisal' mean in real estate?
What does 'APR' (Annual Percentage Rate) refer to in real estate?
What does 'APR' (Annual Percentage Rate) refer to in real estate?
What does 'Balance Outstanding' represent in real estate?
What does 'Balance Outstanding' represent in real estate?
What is a 'Bridging Loan' used for in real estate?
What is a 'Bridging Loan' used for in real estate?
What is a 'Land Certificate' in real estate?
What is a 'Land Certificate' in real estate?
In real estate, what does 'Leasehold' mean?
In real estate, what does 'Leasehold' mean?
What is a 'Mortgage Deed' in real estate?
What is a 'Mortgage Deed' in real estate?
What does 'Mortgage Offer' refer to in real estate?
What does 'Mortgage Offer' refer to in real estate?
What is 'Negative Equity' in real estate?
What is 'Negative Equity' in real estate?
What does 'No Sale, No Fee' mean in real estate?
What does 'No Sale, No Fee' mean in real estate?
In real estate, what does 'OMV' stand for?
In real estate, what does 'OMV' stand for?
What is 'Public Liability Insurance' (or Homeowner’s insurance) in real estate?
What is 'Public Liability Insurance' (or Homeowner’s insurance) in real estate?
What is 'Repossession' in real estate?
What is 'Repossession' in real estate?
What does 'RTB' (Right to Buy) refer to in real estate?
What does 'RTB' (Right to Buy) refer to in real estate?
What is 'Shared Ownership' in real estate?
What is 'Shared Ownership' in real estate?
What does the term 'En-suite' refer to in real estate?
What does the term 'En-suite' refer to in real estate?
What is the American term for a 'Flat' in the UK?
What is the American term for a 'Flat' in the UK?
What does 'For sale' indicate in real estate?
What does 'For sale' indicate in real estate?
What is a 'Garden' in the UK or 'Yard' in the USA?
What is a 'Garden' in the UK or 'Yard' in the USA?
Study Notes
Real Estate Terminology and Definitions
- Ground floor is called Street level in the UK and First floor in the USA
- Landlord or landlady refers to a property owner who rents to a tenant
- In the USA, the term for "Lift" in the UK is Elevator
- Tenant means a person who rents real estate and pays rent
- "Let out" or "Rent out" refers to allowing someone to use a property in exchange for rent
- "Rent" in real estate means the monthly payment made by the tenant to the landlord
- "Storey" in the UK refers to a level of a building, while "Story" in the USA refers to a narrative
- A "Mortgage" in real estate is a loan for purchasing a property, secured by the property itself
- "Appraisal" in real estate means an estimate of a property's value
- "APR" (Annual Percentage Rate) refers to the interest rate on a mortgage loan
- "Balance Outstanding" represents the remaining amount of a mortgage loan that the buyer owes to the lender
- "Bridging Loan" in real estate is used for temporary financing to bridge the gap between selling a current home and buying a new one
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Description
Test your knowledge of real estate terminology and definitions with this quiz. Learn about key terms such as landlord, tenant, mortgage, APR, and more. Whether you're a real estate professional or a potential buyer or renter, this quiz will help you understand the language of the real estate industry.
