Real Estate Vocabulary Words for Beginners Quiz

Real Estate Vocabulary for Beginners

• Affordable Housing: for sale or rent, available at below-market rate, often for low-income households
• As-is: selling the estate in its current state, may also refer to a lesser value of the good
• Beach front: a property facing and overlooking the sea
• Blind offer: a sale of a property without viewing it, often for high-value properties
• Buyer's agent: an intermediary between two or more parties for the purchase of a real estate, must hold a professional card and meet professional aptitude and character requirements

Real Estate Vocabulary for Intermediate Learners

• Conventional sale: a sale of a freehold property with no remaining mortgage to be paid by the first owner
• Counter offer: a response to a buyer's offer, usually regarding the price
• Double vanity: duplicate pieces of furniture in the bathroom
• Due diligence: a period of time given to the buyer to make necessary checks on the property's status before closing the sale
• Ensuite bathroom: a bathroom that opens directly into a bedroom as a suite of rooms
• Equity: the net value of a real estate, calculated by subtracting the mortgage balance from the market value
• Fenced: a property surrounded by a separation device to protect the property from intrusion
• Historical: a property that meets three criteria: enough aging, good preservation, and significant history

Real Estate Vocabulary for Advanced Learners

• Alluring: a real estate with great appeal to buyers due to its charm and qualities
• Back up offer: a prospective buyer who submits an acquisition offer in case the current buyer withdraws
• Beamed wood ceiling: the horizontal surface that constitutes the upper part of a room or enclosed space, made of traditional wooden structure
• Closing costs: various costs and fees associated with closing a mortgage loan
• Days on market (DOM): the length of time between listing a property for sale and signing a contract
• Escrow holder: a person or organization entrusted with the responsibility of holding a property in trust
• FHA Loans: Federal Housing Administration loans with competitive interest rates, smaller deposits, and lower closing costs

Expressions Related to Real Estate

• Accommodation: providing food and lodging for a guest
• Buying a property: becoming the owner of a property after paying the seller
• Cottage: a stocky, mainly wooden mountain dwelling with loggias and an oversized roof
• Deck: an open space that may or may not be tied to a building
• Flat: a housing unit that covers only a part of a building, usually located in a city
• Gated: a large door on an enclosure surrounding a house
• Owner: someone who owns a legally held good
• Porch: a space often glassed in against a house, used as a small sitting room
• Renting a property: granting the use of a dwelling in return for regular payment
• Selling a property: transferring ownership of real estate to another person in exchange for payment
• Tenant: a person occupying a dwelling in exchange for a rent payment to the owner
• Walking distance: a location close to a specified key location
• Well-priced: a property priced below its real value, benefiting the buyer### Real Estate Vocabulary
• Alluring: a real estate with great appeal to prospective buyers due to its charm and qualities
• Back up offer: a prospective buyer submits an acquisition offer in case the current buyer withdraws, paying earnest money for this operation
• Beamed wood ceiling: a traditional wooden structure constituting the upper part of a room or enclosed space
• Closing costs: various costs and fees associated with closing a mortgage loan, including legal and administrative fees
• Days on market (DOM): the length of time between listing a property for sale and signing a contract
• Escrow holder: a person or organization entrusted with the responsibility for a property deposited in trust, ensuring all clauses of the trust deed are respected
• FHA Loans: Federal Housing Administration loans with competitive interest rates, smaller deposits, and lower closing costs than conventional loans
• Ibuyer: a company using technology to make quick offers on homes, handling the entire process of buying, renovating, and reselling properties

Real Estate Concepts

• Accommodation: the act of housing an individual, providing food and lodging for a guest
• Buying a property: becoming the owner of a property after paying the cost bid by the seller
• Cottage: a stocky, mainly wooden mountain dwelling with loggias and an oversized roof
• Deck: an open space that may or may not be tied to a building, made of wood, tiles, stone, or concrete
• Flat: a housing unit with a certain number of rooms, covering only a part of a building, often located in a city
• Gated: a type of big door on an enclosure surrounding a house
• Owner: a person who owns a legally held good
• Porch: a space often glassed in against a house, used as a small sitting room
• Renting a property: granting the use of a dwelling in return for regular payment while remaining the property owner
• Selling a property: a transaction that transfers ownership of real estate to another person in exchange for payment
• Tenant: a person occupying a dwelling in exchange for a rent payment to the owner
• Walking distance: a location close to a specified key location
• Well-priced: a property priced below its real value, benefiting the buyer

Enhance your real estate vocabulary with this beginner-level quiz. Practice key terms related to the real estate industry and expand your knowledge. Perfect for those looking to improve their understanding of real estate jargon.