Real Estate Vocabulary
An item of personal property that has been permanently attached to real property.
What is a fixture?
According to Arizona Law, this happens if a broker changes their business address.
What is, they must notify the ADRE within 10 days?
What is closing costs?
This document is used to transfer ownership of real property from one party to another.
What is a deed?
Using social media to show local events, restaurants and amenities for home buyers falls under what marketing strategy?
What is Farming?
The opposite of appreciation.
What is depreciation?
This describes the illegal act of directing prospective home buyers to or away from certain neighborhoods based on race.
What is steering?
A legally required document in the United States that provides a detailed summary of the final terms and costs of a mortgage loan, including the loan amount, interest rate, monthly payments, and closing costs
What is a Closing Disclosure?
A right or claim on real property that secures a debt.
What is a lien?
A tool that uses search engine optimization to generate traffic to a website or social media account
What are keywords?
An estimate of the most probable market value of a property.
What is an appraisal?
Sales associate must deliver the funds to their broker by when?
What is the end of the next business day?
A preliminary assessment by a lender to estimate how much a potential homebuyer might be able to borrow
What is a pre-qualification?
This is the person who conveys real property in a deed.
What is a grantor?
This is the practice of creating, publishing, and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience.
What is content marketing?
The process of gradually paying off a debt through regular installments.
What is amortization?
What is contingencies?
Insurance that protects a mortgage lender against loss if a borrower defaults.
What is private mortgage insurance (PMI)?
A contract between a real estate agent and a potential homebuyer, outlining the terms of their professional relationship
What is a buyer-broker agreement?
Providing accurate and relevant information about a property in advertising is called doing this to the public.
What is full disclosure?
This is the type of ownership a new buyer receives when buying a condo in Arizona.
What is fee simple?
This document is recorded in the county where the property is located to give constructive notice of ownership.
What is a deed?
This type of loan requires regular payments covering both principal and interest, with the balance fully paid off by the end of the term.
What is a fully amortized loan?
Arizona real estate purchase agreements are legally binding contracts outlining purchase price, financing, and other critical terms.
What is Real Estate Contracts?
Using professional photography, 3D tours, and even drone footage to showcase a property online falls under this type of real estate marketing.
What is visual marketing?