Real Estate 101
This professional helps people buy and sell homes.
What is a Real Estate Agent (or Realtor)
The monthly payment you make to a bank to pay off your house.
What is a Mortgage
A small house, often in the woods or by a lake, traditionally made of logs.
What is a Cabin?
In the game of Monopoly, this color group includes Park Place and Boardwalk.
What is Dark Blue
This is the person who owns a property and rents it out to others.
Who is a Landlord?
A large sum of money paid upfront when buying a house, usually a percentage of the total price
What is a Down Payment?
A single apartment unit that you own individually, often in a large building with shared walls.
What is a Condo
The most famous residence in the United States, located at 1600 Pennsylvania Avenue
What is the White House
This sign in a yard means a property is available for purchase
What is "For Sale"
The regular payment a tenant makes to a landlord to live in a property.
What is Rent?
A multi-floor home where two distinct families live, often side-by-side or one on top of the other.
What is a Duplex?
A house that is said to be inhabited by spirits or ghosts.
What is a Haunted House?
This is the contract signed by a landlord and a tenant.
What is a Lease?
An estimate of how much a home is worth, usually done by a professional before the bank lends money
What is an Appraisal?
A very large, luxurious, and expensive house
What is a Mansion
This room in a house is typically located underground.
What is a Basement
This describes a property that is zoned for people to live in, rather than for businesses.
What is residential zoning
The final step in the real estate transaction where papers are signed and ownership is transferred.
What is Closing?
A paved area outside a house, used for dining or recreation, distinct from a raised deck.
What is a Patio?
what is the most important factor in real estate?
What is Location?