Vocab Check
A loan used to buy property
What is a mortgage?
This house is home to the U.S. President.
What is the White House?
True or False: Renting always costs less than buying.
What is false?
Some luxury homes have a pool shaped like this state.
What is Texas?
This small deposit shows a buyer is serious about their offer.
What is earnest money?
200
Money held in a neutral account until all conditions are met.
What is escrow?
Zillow is an example of this type of real estate business.
What is an online listing platform?
A common upfront payment required when buying a home.
What is a down payment?
This famous rapper has a house with a full shark tank inside.
Who is Drake?
When a seller says “No, but…” and changes the offer
What is a counteroffer?
The official document proving legal ownership.
What is a title?
This talk-show host owns one of the most famous estates in Montecito, California.
Who is Oprah Winfrey?
A shorter contract that typically lasts 6–12 months.
What is a lease?
This type of “secret” door looks like a bookshelf but leads to a hidden room.
What is a hidden bookshelf door?
The last step of the home-buying process where paperwork is signed
What is closing?
The value of ownership you’ve built in your home, minus debt.
What is equity?
This term describes when a property is sold for less than the mortgage owed.
What is a short sale?
The monthly payment you make when renting.
What is rent?
Some mansions come with their own private lane for this sport — and no, it’s not basketball.
What is bowling (a bowling alley)?
Additional expenses paid at closing (like taxes, insurance, fees).
What are closing costs?
An estimate of a property’s market value.
What is an appraisal?
A company that owns and manages multiple properties as an investment.
What is a REIT (Real Estate Investment Trust)?
One major financial advantage of owning a home vs. renting.
What is building equity?
This “royal” room is the bathroom — but imagine it made of gold.
What is the throne?
The list of conditions that must be met before a sale is final.
What are contingencies?