71 Questions
What does AS-IS mean in a real estate auction sale?
The buyer is responsible for examining and judging the property for their own protection.
What is an absentee bidder in an auction?
A bidder who submits an absentee bid but does not attend the auction.
What is an absolute auction?
An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount.
What is an acceleration clause in a mortgage or land deal?
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.
What is an accounting of a sale in an auction?
A report to the seller by the auctioneer about details of the financial aspects of the auction.
How many square feet are in an acre?
43560
What is an advance fee in a real estate deal?
A fee paid by the buyer to the seller before the sale is complete.
What is an agreement of sale in real estate?
An agreement between the buyer and the seller about the price of the property.
What is alienation in real estate?
The transfer of real property by one person to another.
What is an apprentice auctioneer?
An auctioneer who is in training and operating under the supervision of a licensed auctioneer.
What is an auction listing agreement in real estate?
An agreement between the auctioneer and the seller about the terms of the auction.
What is an auction marketer in real estate?
A person who contracts with the seller for an auction method of marketing property.
What does AS-IS mean in a real estate auction sale?
The buyer is responsible for examining and judging the property for their own protection.
What is an absentee bidder in an auction?
A bidder who submits an absentee bid but does not attend the auction.
What is an absolute auction?
An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount.
What is an acceleration clause in a mortgage or land deal?
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.
What is an accounting of a sale in an auction?
A report to the seller by the auctioneer about details of the financial aspects of the auction.
How many square feet are in an acre?
43560
What is an advance fee in a real estate deal?
A fee paid by the buyer to the seller before the sale is complete.
What is an agreement of sale in real estate?
An agreement between the buyer and the seller about the price of the property.
What is alienation in real estate?
The transfer of real property by one person to another.
What is an apprentice auctioneer?
An auctioneer who is in training and operating under the supervision of a licensed auctioneer.
What is an auction listing agreement in real estate?
An agreement between the auctioneer and the seller about the terms of the auction.
What is an auction marketer in real estate?
A person who contracts with the seller for an auction method of marketing property.
What is an AS-IS sale?
Selling property without warranties as to the condition and fitness of the property for a particular use
What is an Absentee Bidder?
A person who does not attend the auction but places a bid
What is an Absolute Auction?
An auction where property is sold to the highest qualified bidder with no limiting conditions or amount
What is an Acceleration Clause?
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
What is an Agreement of Sale?
An agreement between two or more people or companies which creates or modifies a legal relationship
What is Alienation?
The transfer of Real Property by one person to another
What is an Apprentice Auctioneer?
An auctioneer who is in training and operating under the supervision of a licensed auctioneer
What is an Auction?
A method of selling real or personal property in a public forum through an open and competitive bidding
What is an Auction Block?
It is the Podium or raised platform where the auctioneer stands while conducting the auction
What is an Auction Listing Agreement?
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
What is an Auction Marketer?
In the case of Real Property; a person who contracts with the Sellers for an auction method of marketing property
What is an AS-1S in a real estate auction sale?
A sale where the property is sold without warranties as to the condition and fitness for a particular use.
What is an absentee bid in an auction?
A bid that allows the bidder to participate in the bidding process without being physically present.
What is an absolute auction?
An auction where property is sold to the highest qualified bidder with no limiting conditions or amount.
What is an acceleration clause in a mortgage or land deal?
A clause stating that upon default of a payment due, the balance of the obligation should at once be due and paid in full.
What is an accounting of a sale in an auction?
A report to the seller by the auctioneer about details of the financial aspects of the auction.
How many square feet are in an acre?
43,560 sq. feet.
What is an advance fee in a real estate deal?
A down payment.
What is an agreement of sale in real estate?
An agreement between the buyer and the seller outlining the terms of the sale.
What is alienation in real estate?
The transfer of real property by one person to another.
What is an apprentice auctioneer?
An auctioneer who is in training and operating under the supervision of a licensed auctioneer.
What is an auction listing agreement in real estate?
A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction.
What is an auction marketer in real estate?
In the case of real property, a person who contracts with the sellers for an auction method of marketing property.
What is an Ad Valorem tax?
A tax based on property value
What is an Amortization?
Paying off a mortgage in installments
What is an Annunity?
A sum of money paid in installments
What is an Assignee?
The person to whom a contract or agreement is assigned
What is an Auction Block?
The podium or raised platform where the auctioneer stands during an auction
What is an Auction Listing Agreement?
An agreement between the auctioneer and the seller
What is an Absolute Auction?
An auction where the property is sold to the highest bidder with no limiting conditions or amount
What is an Acceleration Clause?
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
What is an Agent?
A person who represents another individual or entity with their authority to do so
What is Alienation?
The transfer of real property by one person to another
What is an Apprentice Auctioneer?
An auctioneer who is in training and operating under the supervision of a licensed auctioneer
What is an Accounting of a Sale?
A report to the seller by the auctioneer about details of the financial aspects of the auction
What is the definition of an acceleration clause in a mortgage or land deal?
A clause that states that upon default of a payment due, the balance of the obligation should be due and paid in full
What is an advance fee in a real estate deal?
A fee paid by the buyer to the seller prior to closing
What is the definition of alienation in real estate?
The transfer of real property by one person to another
What is an appraiser?
A person who estimates the value of a property
What is an annuity?
A sum of money or its equivalent that constitutes one of a series of payments
What is an auction block?
The podium or raised platform where the auctioneer stands while conducting the auction
What is an auction listing agreement in real estate?
A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction
What is an auction marketer in real estate?
A person who contracts with the sellers for an auction method of marketing property
What is an as-is sale in real estate?
Selling the property without warranties as to the condition and/or the fitness of the property for a particular use
What is an absentee bidder in an auction?
A person (or entity) who does not attend the auction, but submits an absentee bid
What is an absolute auction?
An auction where property is sold to the highest qualified bidder with no limiting conditions or amount
What is an administrator in real estate?
A person appointed by the court when no will is left
Test your knowledge on real estate terms with this quiz about "AS-IS" selling and absentee bidding. Learn about the specific definitions of vocabulary used in the industry, including "AS-1S," which refers to selling a property without warranties, and "absentee bidder," which allows individuals to participate in bidding without being physically present. Sharpen your vocabulary and understanding of real estate practices with this informative quiz.
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