Real Estate Vocabulary Quiz

<p>A clause that states that upon default of a payment due, the balance of the obligation should at once be due and paid in full.</p> Signup and view all the answers

<p>A report to the seller by the auctioneer about details of the financial aspects of the auction.</p> Signup and view all the answers

<p>43560</p> Signup and view all the answers

<p>A fee paid by the buyer to the seller before the sale is complete.</p> Signup and view all the answers

<p>An agreement between the buyer and the seller about the price of the property.</p> Signup and view all the answers

<p>The transfer of real property by one person to another.</p> Signup and view all the answers

<p>An auctioneer who is in training and operating under the supervision of a licensed auctioneer.</p> Signup and view all the answers

<p>An agreement between the auctioneer and the seller about the terms of the auction.</p> Signup and view all the answers

<p>A person who contracts with the seller for an auction method of marketing property.</p> Signup and view all the answers

<p>The buyer is responsible for examining and judging the property for their own protection.</p> Signup and view all the answers

<p>A bidder who submits an absentee bid but does not attend the auction.</p> Signup and view all the answers

<p>An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount.</p> Signup and view all the answers

<p>A clause that states that upon default of a payment due, the balance of the obligation should at once be due and paid in full.</p> Signup and view all the answers

<p>A report to the seller by the auctioneer about details of the financial aspects of the auction.</p> Signup and view all the answers

<p>43560</p> Signup and view all the answers

<p>A fee paid by the buyer to the seller before the sale is complete.</p> Signup and view all the answers

<p>An agreement between the buyer and the seller about the price of the property.</p> Signup and view all the answers

<p>The transfer of real property by one person to another.</p> Signup and view all the answers

<p>An auctioneer who is in training and operating under the supervision of a licensed auctioneer.</p> Signup and view all the answers

<p>An agreement between the auctioneer and the seller about the terms of the auction.</p> Signup and view all the answers

<p>A person who contracts with the seller for an auction method of marketing property.</p> Signup and view all the answers

<p>Selling property without warranties as to the condition and fitness of the property for a particular use</p> Signup and view all the answers

<p>A person who does not attend the auction but places a bid</p> Signup and view all the answers

<p>An auction where property is sold to the highest qualified bidder with no limiting conditions or amount</p> Signup and view all the answers

<p>A clause in a mortgage, land deal or lease stating that upon default of a payment due, the balance of the obligation should at once be due and paid in full</p> Signup and view all the answers

<p>An agreement between two or more people or companies which creates or modifies a legal relationship</p> Signup and view all the answers

<p>The transfer of Real Property by one person to another</p> Signup and view all the answers

<p>An auctioneer who is in training and operating under the supervision of a licensed auctioneer</p> Signup and view all the answers

<p>A method of selling real or personal property in a public forum through an open and competitive bidding</p> Signup and view all the answers

<p>It is the Podium or raised platform where the auctioneer stands while conducting the auction</p> Signup and view all the answers

<p>A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction, and sets out the terms of the agreement, rights, and responsibilities of both parties</p> Signup and view all the answers

<p>In the case of Real Property; a person who contracts with the Sellers for an auction method of marketing property</p> Signup and view all the answers

<p>A sale where the property is sold without warranties as to the condition and fitness for a particular use.</p> Signup and view all the answers

<p>A bid that allows the bidder to participate in the bidding process without being physically present.</p> Signup and view all the answers

<p>An auction where property is sold to the highest qualified bidder with no limiting conditions or amount.</p> Signup and view all the answers

<p>A clause stating that upon default of a payment due, the balance of the obligation should at once be due and paid in full.</p> Signup and view all the answers

<p>A report to the seller by the auctioneer about details of the financial aspects of the auction.</p> Signup and view all the answers

<p>43,560 sq. feet.</p> Signup and view all the answers

<p>A down payment.</p> Signup and view all the answers

<p>An agreement between the buyer and the seller outlining the terms of the sale.</p> Signup and view all the answers

<p>The transfer of real property by one person to another.</p> Signup and view all the answers

<p>An auctioneer who is in training and operating under the supervision of a licensed auctioneer.</p> Signup and view all the answers

<p>A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction.</p> Signup and view all the answers

<p>In the case of real property, a person who contracts with the sellers for an auction method of marketing property.</p> Signup and view all the answers

<p>A tax based on property value</p> Signup and view all the answers

<p>Paying off a mortgage in installments</p> Signup and view all the answers

<p>A sum of money paid in installments</p> Signup and view all the answers

<p>The person to whom a contract or agreement is assigned</p> Signup and view all the answers

<p>The podium or raised platform where the auctioneer stands during an auction</p> Signup and view all the answers

<p>An agreement between the auctioneer and the seller</p> Signup and view all the answers

<p>An auction where the property is sold to the highest bidder with no limiting conditions or amount</p> Signup and view all the answers

<p>A clause in a mortgage stating that upon default of a payment due, the balance of the obligation should at once be due and paid in full</p> Signup and view all the answers

<p>A person who represents another individual or entity with their authority to do so</p> Signup and view all the answers

<p>The transfer of real property by one person to another</p> Signup and view all the answers

<p>An auctioneer who is in training and operating under the supervision of a licensed auctioneer</p> Signup and view all the answers

<p>A report to the seller by the auctioneer about details of the financial aspects of the auction</p> Signup and view all the answers

<p>A clause that states that upon default of a payment due, the balance of the obligation should be due and paid in full</p> Signup and view all the answers

<p>A fee paid by the buyer to the seller prior to closing</p> Signup and view all the answers

<p>The transfer of real property by one person to another</p> Signup and view all the answers

<p>A person who estimates the value of a property</p> Signup and view all the answers

<p>A sum of money or its equivalent that constitutes one of a series of payments</p> Signup and view all the answers

<p>The podium or raised platform where the auctioneer stands while conducting the auction</p> Signup and view all the answers

<p>A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction</p> Signup and view all the answers

<p>A person who contracts with the sellers for an auction method of marketing property</p> Signup and view all the answers

<p>Selling the property without warranties as to the condition and/or the fitness of the property for a particular use</p> Signup and view all the answers

<p>A person (or entity) who does not attend the auction, but submits an absentee bid</p> Signup and view all the answers

<p>An auction where property is sold to the highest qualified bidder with no limiting conditions or amount</p> Signup and view all the answers

<p>A person appointed by the court when no will is left</p> Signup and view all the answers