Real Estate Vocabulary
An item of personal property that has been permanently attached to real property.
What is a fixture?
According to Florida Law, this happens if a broker changes their business address.
What is, they must notify the FREC within 10 days?
This type of mortgage allows the borrower to pay only interest for a set period of time.
What is an interest-only mortgage?
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?
This loan-to-value ratio is used to determine the amount of financing required for a real estate purchase.
What is LTV?
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?
An act that requires lenders to disclose the true cost of credit to borrowers.
What is the Truth in Lending Act (TILA)?
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?
This legal term describes a tenant's right to undisturbed possession of the property.
What is quiet enjoyment?
Insurance that protects a mortgage lender against loss if a borrower defaults.
What is private mortgage insurance (PMI)?
This legal description method uses points, angles, and distances to define property boundaries.
What is metes and bounds?
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 Florida.
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?
This is the difference between economic obsolescence and functional obsolescence?
What is economic obsolescence being outside of the property boundary?
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?