Real Estate Terminology Quiz

<p>Person who rents real estate and pays rent</p> Signup and view all the answers

<p>Allowing someone to use a property in exchange for rent</p> Signup and view all the answers

<p>Monthly payment made by the tenant to the landlord</p> Signup and view all the answers

<p>Level of a building</p> Signup and view all the answers

<p>Loan for purchasing a property, secured by the property itself</p> Signup and view all the answers

<p>Estimate of a property's value</p> Signup and view all the answers

<p>Interest rate on a mortgage loan</p> Signup and view all the answers

<p>Remaining amount of a mortgage loan that the buyer owes to the lender</p> Signup and view all the answers

<p>Temporary financing to bridge the gap between selling a current home and buying a new one</p> Signup and view all the answers

<p>A certificate that proves ownership of a piece of real estate</p> Signup and view all the answers

<p>Ownership of a property but not the land it's on, with a ground rent</p> Signup and view all the answers

<p>A legal document that details the terms of a mortgage loan</p> Signup and view all the answers

<p>An offer from a bank or lender to provide a mortgage loan</p> Signup and view all the answers

<p>When a property's value is less than the outstanding mortgage</p> Signup and view all the answers

<p>The seller only pays fees if the property sells</p> Signup and view all the answers

<p>Open Market Value</p> Signup and view all the answers

<p>Insurance for homeowners to cover accidents on their property</p> Signup and view all the answers

<p>The process of taking back a property from a tenant</p> Signup and view all the answers

<p>A right for tenants to buy the property they rent at a discount</p> Signup and view all the answers

<p>Co-ownership of property by two or more individuals</p> Signup and view all the answers

<p>A property attached to another room</p> Signup and view all the answers

<p>Apartment</p> Signup and view all the answers

<p>Property is available to be purchased</p> Signup and view all the answers

<p>A recreational area with flowers and trees</p> Signup and view all the answers