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Mortgage – the charging of real (or personal) property by a debtor to a creditor as security for a debt (especially one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period. Loan – Borrowing money from another person or institution to pay for the property. Amortization – a period in which a loan balance is gradually paid off from a mortgage payment that includes both principal and interest.
Zoning – Laws that govern how a real estate can be used. Words included in the 2009 and 2011 National Assessment of Educational Progress (NAEP) tests of fourth, eighth, and twelfth grade vocabulary. A thorough survey of various textbooks, assignments, content area standards, and examinations yields the following list of words compiled by Jim Burke. This is the document transferred from seller to buyer at closing. Here are some words from the ASVAB study guide published by Accepted, Inc. After learning this list of words, continue playing the adaptive Vocabulary.com Challenge to brush up on these words and to continue learning more words that may show up on the ASVAB.
And don’t forget to learn all the strategies of finding real estate deals in this training. Multiple Meaning Words: Context is King; Language of the Test: Learn to Speak "SAT" Words to Capture Tone: Getting Inside the Author's Head; Test Prep Vocabulary Lists: The New SAT: Language of the Test - List #1. Interest – the cost of borrowing money. Seller’s Agent – also known as a listing agent, the seller’s agent works for the seller to help them list their home on the market and get it sold to a buyer. Title – A legal document listing the history of ownership of the home. These words are also the most likely to appear on the SAT, ACT, GRE, and ToEFL. Down Payment – The amount of money paid upfront for the property.
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Over 50+ real estate vocab terms for beginners. prep preposition prep phr prepositional phrase pron pronoun sing singular v verb . Construction Loan – a type of loan that covers the construction cost of a new home being built by a builder. 4.
Principal – The amount borrowed for a mortgage loan. The Word Knowledge subtest of the Armed Services Vocational Aptitude Battery (ASVAB) is a vocabulary test comprised of definition and sentence-definition questions (question types that Vocabulary.com uses as well).
Voluntary and permanent cessation with no intention to resume or reclaim one’s interest is called ABANDONMENT. Title Insurance – Title insurance protects against losses resulting from problems with the title.
Or learn all the financing strategies here if you don’t want to use much of your own capital. on Real Estate Vocabulary 101 (50+ Terms to Know). From that multitude, the editors have chosen 100 words that are neither obscure nor outlandish that could give middle schoolers more aplomb and aptitude in their verbal encounters. This method saves the seller costs associated with hiring a real estate agent but has its positives and negatives as well. Foreclosure – A property that defaulted on loan payments and failed to make them up over the course of the foreclosure process ultimately leading the bank to reclaim the property from the owner. Below you’ll find an extensive real estate vocabulary list to memorize and practice so you sound experienced when talking to real estate agents, loan officers, sub-contractors, and other industry players. • Prefixes and suffixes used at this level appear in an appendix.
Start studying basic real estate vocab terms and their meanings! For Sale By Owner (FSBO) – A property listed for sale by the owner. 1031 Deferral – IRC Section 1031 states that a properly structured 1031 exchange allows an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gain taxes.
Toggle navigation PrepAgent Real Estate Exam Prep Sign Up Now; Login; Articles; Free Practice Exam; More . Here are links to our lists for the novel: Episode 1, Episode 2, Episode 3, Episode 4, Episode 5, Episode 6, Episode 7, Episode 8, Episode 9, Episode 10, Episode 11, Episode 12, Episode 13, Episode 14, Episode 15, Episode 16, Episode 17, Episode 18, Episode 19, Episode 20, Episode 21, Episode 22, Episode 23, Episode 24, Episode 25, Episode 26, Episode 27, Episode 28, Episode 29, Episode 30, Episode 31, Episode 32, Episode 33, Episode 34, Episode 35, Episode 36, Episode 37, Barron's GRE 17th Edition High Freq Words. Remember that similar agreements may be used between a buyer and an agent when buyer representation is desired. I'd like to receive the free email course. Head back to see what else you should be learning this week. Homeowner’s Association (HOA) – A group that manages a shared housing complex such as apartments or condominiums. Adjustable Rate Mortgage – a loan product with a mortgage rate that adjusts annually up or down depending on the market instead of remaining fixed or locked in like a fixed rate mortgage. Don't have an account yet? Then click the button on this image to learn about my real estate investing course for beginners to help you build passive income and quit your job one day. h�bbd``b`��@��H��LZ@�e2HLH����@��H�0r�ic`$�����7� L[
Comparable Market Analysis – An evaluation of similar, recently sold homes (called comparables) that are near a home intended to be bought or sold. Words selected by the Editors of the American Heritage® Dictionaries. See the definition, listen to the word, then try to spell it correctly. Single Family – A single independent property that is used by a single family for living such as a house. Kate Kinsella's "The Academic Vocabulary Toolkit" focuses on words used across different subject areas and careers in spoken and written communication. An Acre has 43,560 square feet.
If you only have time to study one list of words, this is the list.
Residential – used as a residence or by residents. For Sale By Agent – A property listed for sale by a real estate agent. Study this list to improve your vocabulary. Learn this list of 25 words that are based on our analysis of the words likely to appear in question stems, answer options and test directions. Preliminary paper. Head back to see what else you should be learning this week. Contingencies – Clauses in a contract that allow a buyer to not be forced to purchase a property if certain conditions are unsatisfactory either structurally or financially. Spellers of the world, untie! Get one wrong?
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3&�^V��,�tQ�oY���zՌ���7g�8�A�8�nI;-����w���ڲ��w�v�,Wߓ�\�W�ɯfפ�5���?�Q��uFq��7增�V����l�T�_��m�h��n��f�����r!�M�}������}��^�V�:~O�Ͷ�ج�|[ p8�O�7�Zg�O��N������w����Z��M�X|P��;����|�N�V�D:��=����#�%{X#��;���J �e���im�G"\u��H��"���+`�����(^S�_ă��cN}���;�����y5 \�v��i���p+�����������~e����'��bJu��2پsd��`�&�A���(C4C[o��V�Je���
th>��^�f�p�!y(��,�*�]��p�R��� ��oy�⭐А`~n'��7u��zQa��5!UD���?\\�|�m�&�5���M���>�.��.��>�^հZ��K�߃a)�m�� ��&9k��HG�����hS�������x��;��쁔���9ע�漳�]Ξ��t����Qߪ���. It protects the lender (insurance) in case the buyer defaults on the loan. Nassim Nicholas Taleb said, "If you want to annoy a poet, explain his poetry," but we are willing to take that risk to make the world of literary analysis a little clearer and further illuminate the mystery of poetry. To create this list, we started with the words that give our users the most trouble and then ranked them by how frequently they appear in our corpus of billions of words from edited sources. A simile is a figure of speech in which two unlike things are compared, using "like" or "as.". REAL ESTATE VOCABULARY 17 PAGES 1. Language of the Test: Learn to Speak "SAT", Words to Capture Tone: Getting Inside the Author's Head, The New SAT: Language of the Test - List #1, The New SAT: Words to Capture Tone - List #1, The New SAT: Multiple-Meaning Words List #1, 100 Words Every Middle Schooler Should Know, Keystone Exams: English Composition Glossary, Academic Vocabulary Toolkit 1, Words 1-10, Metaphors from Top AP English Exam Novels, TEKS ELAR Academic Vocabulary List (5th-7th grades), "Simon's Saga," Vocabulary from Episode 1.
A real estate broker gets paid a commission. Knowing real estate terms and vocabulary can be helpful when you’re buying your first home. As you prepare for your real estate license exam, understand that listing agreements establish the relationship between the real estate agent and the property seller. on the path to systematic vocabulary improvement. Copyright 2018 | Epic View Media LLC | All Rights Reserved |, Real Estate Vocabulary 101 (50+ Terms to Know). Net Income – The amount of income left over after operating expenses have been subtracted from revenues.
The top 1,000 vocabulary words have been carefully chosen to represent difficult but common words that appear in everyday academic and business writing. Words I've encountered in practice PSAT tests. This is the same approach I took to help me get my first real estate deal at age 20. Deed – The legal document that determines who has ownership of a property. Follow our roadmap and you'll be prepared before you sharpen that #2 pencil. Private Mortgage Insurance – a monthly payment added to the mortgage payment when a buyer has less than 20% as a down payment on the property. Before you can answer a question on the PARCC English Language Arts/Literacy section, you first need to know what the question is asking.
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