Real Estate Vocabulary
Real Estate Vocabulary
lease
or rent all or part of to another person
the
legal privilege of using something that is not your own
a
contract granting use or occupation of property
a
person who is authorized to act as an agent for the sale of land
property
consisting of houses and land
a
picturesque city of southern California on San Diego Bay near the Mexican
border; site of an important naval base
a
breach of a legal duty
a
person who is authorized to act as an agent for the sale of land
a
person who is authorized to act as an agent for the sale of land
conducting
business within or between groups
proceedings
initiated to repossess the collateral for a loan
someone
who owns a home
a
legal proceeding in a court
a
written account of what transpired at a meeting
expulsion
of someone, especially a tenant, from a property
leave
behind empty; move out of
extensive
landed property retained by the owner
confirmation
that some fact or statement is true
any
entry into an area not previously occupied
a
misleading falsehood
someone
who pays rent to use property owned by someone else
the
activity of exerting your muscles in various ways to keep fit
the
descent of a large mass of dirt and rock down a slope
someone
who is involved in an activity
a
firm of lawyers
a
voluntary repudiation of legal claim to something
rate
higher; raise in value
an
act of being a tenant
providing
personal satisfaction
the
ability to bring something into existence
someone
who commits capital to gain financial returns
discuss
the terms of an arrangement
expressing
much in few words
anything
that is owed to someone else
make
sense of; assign a meaning to
the
act of funding
the
state of being lower in rank to something
someone
who develops real estate
of
or relating to the act of dwelling in a place
being
or occurring in fact or actuality
a
person who buys
the
act of coming into conflict
a
property owner who leases property or housing to others
English
actor and theatrical producer noted for his lavish productions of Shakespeare
(1853-1917)
someone
who promotes or exchanges goods or services for money
reacting
to a stimulus
something
gained
a
technique used in behavior therapy
established
by or founded upon law or official rules
done
or happening at the appropriate moment
a
professional person authorized to practice law
connected
with or engaged in the exchange of goods
give
an account of
a
change by sale or merger in the controlling interest of a corporation
a
businessman who buys or sells for another
arrange
by systematic planning and united effort
cause
to stay indoors
a
comprehensive term for any proceeding in a court of law whereby an individual
seeks a legal remedy
the
state of being legally obliged and responsible
standing
in for someone and speaking on their behalf
pain
in the head
a
proposal for an appropriate course of action
the
act of buying
ensuring
observance of or obedience to
a
person who owns something
a
professional person authorized for legal practice
understood
in a certain way; made sense of
the
commercial activity of providing funds and capital
a
failing or deficiency
the
act of buying
contain
as a part
the
exchange of goods for an agreed sum of money
activity
that is a malfunction, intrusion, or interruption
someone
who pays for goods or services
be
a delegate or spokesperson for
shielding
(or designed to shield) against harm or discomfort
a
separate section of a legal document
acquire
by means of a financial transaction
the
selling of goods to consumers
exercise
authority over, as of nations
the
content of observation or participation in an event
act
as a stimulant
responsible
for making and enforcing rules and laws
the
line indicating the limit or extent of something
the
act of bringing to uniformity
seek
information from
negation
of a word or group of words
an
opening, especially a gap in a dike or fortification
the
general activity of selling
harmony
of people's opinions, actions, or characters
connected
logically or causally or by shared characteristics
come
into the possession of something concrete or abstract
a
current of air
give
advice to
give
something useful or necessary to
a
statement that is added to a proposal or document
impart
knowledge of some fact, state or affairs, or event to
a
state in the western United States on the Pacific
something
owned
creating
or arousing uncontrolled emotion
a
medicine or therapy that cures disease or relieves pain
have
in mind as a purpose
a
barrier that serves to enclose an area
relinquish
possession or control over
the
name of a work of art or literary composition
a
structure in which animals lay eggs or give birth to their young
large
in spatial extent or range or scope or quantity
perceive
to be something or something you can identify
the
rising of a body of water and its overflowing onto land
the
extent downward or backward or inward
obtain
by purchase
your
usual mood
the
collection of rules imposed by authority
allow
the presence of or allow without opposing
having
knowledge or skill from observation or participation
a
complex entity made of many parts
the
unlimited expanse in which everything is located
an
open fabric of string or rope or wire woven together
a
binding agreement that is enforceable by law
compensation
for worthy acts or retribution for wrongdoing
a
representative who acts on behalf of others
have
as a part; be made up out of
having
the same or similar characteristics
the
act of building something
the
state of affairs that a plan is intended to achieve
shield
from danger, injury, destruction, or damage
knowledge
acquired through study or experience
look
at again; examine again
the
act of searching for something
something
that baffles understanding and cannot be explained
come
into possession of
require
or want
income
(at invoice values) received for goods and services over some given period of
time
the
activity of contributing to the fulfillment of a need
having
much knowledge or education
pick
out from a number of alternatives
a
relation between things or events
make
by combining materials and parts
a
set of garments for outerwear of the same fabric and color
a
formal organization of people or groups of people
the
piece of land on which something is located
holding
or containing nothing
a
variety of different things or activities
a
position or opinion reached after consideration
some
situation or event that is thought about
in
such a manner as could not be otherwise
try
to locate, discover, or establish the existence of
large
or big relative to something else
from
first to last
resulting
from one's intentions
not
soft or yielding to pressure
make
it possible for something to happen
being
or characteristic of a single thing or person
the
federal department in the United States that sets and maintains foreign
policies
present
for acceptance or rejection
physical
position in relation to the surroundings
the
condition of being honored or respected
where
you live at a particular time
having
great extent from one side to the other
an
act of help or assistance
characterized
by an absence of agitation or activity
an
architectural partition with a height and length greater than its thickness;
used to divide or enclose an area or to support another structure
significant
in effect or meaning
come
together
readily
apparent to the mind
place
of business where professional duties are performed
a
person who has authority over others
how
something is done or how it happens
free
from error; especially conforming to fact or truth
busy
or occupied with
the
solid part of the earth's surface
capable
of happening or existing
an
occasion on which people gather to socialize and have fun
established
beyond doubt or question; definitely known
affording
free passage or access
give
assistance; be of service
perform
or carry out
continue
a certain state, condition, or activity
above
average in size or number or quantity or magnitude
having
the most positive qualities
of
so extreme a degree or extent
sufficient
for the purpose
that
which is responsible for one's thoughts and feelings
airtight
sealed metal container for food or drink, etc.
(used
with count nouns) two considered together; the two
not
the same one or ones already mentioned or implied
transfer
possession of something concrete or abstract
motivated
by
activity
directed toward making or doing something
a
unit of surface area equal to 100 square meters
get
into one's hands
in
addition
15 simple words in English for real estate agents
Development. A group of buildings together on a large area
of land.
En-suite. This is an adjective to describe something which
is attached to another room. Usually an en-suite bathroom – which is attached
to the master bedroom.
Estate agent. The person who helps clients buy, sell and
rent real estate.
Flat (UK), Apartment (USA). An arrangement of rooms on one
floor to live in. Flats are often constructed in high rise buildings or
apartment blocks. Although it is not unusual to find a two storey house that
has been split into two or more apartments.
For sale. This means that the home, business, building or
piece of land is on the market and can be purchased.
Furnished. This adjective describes a property that is on
the market and includes furniture.
Garden (UK) Yard (USA). A piece of land for recreational
use – it may have flowers, trees, grass etc.
Ground floor (UK), First floor (USA). The storey or floor
of the building which is on the same level as the street or ground. In the UK
the first floor is one above ground level, known as the second floor in American
English for real estate.
Landlord or Landlady. The owner of a piece of real estate
who rents or lets it to a tenant.
Lift (UK), elevator (USA). An electric device to use as an
alternative to stairs. The compartment moves people and or objects up and down
to the different floors in a building.
Tenant. A person who rents a piece or real estate and pays
a monthly amount of money to the landlord.
Let out or to rent out. This is the verb which means to
allow somebody to use a piece of real estate in exchange for money (rent).
Rent. One option, instead of buying a home, is to rent a
property and pay a monthly quantity to the owner or landlord/landlady.
Storey (UK) Storey (USA). The only difference between the
American and British versions of this English for real estate word is the
spelling. The word itself means the levels of the floors in a building.
Mortgage. A loan from the bank or building society in order
to buy a property. The loan is secured by the property in question.
Advanced level English for real estate agents.
You might want to take a look at some videos online to
hear different conversations using in English for real estate agents. The truth
is that real estate agents are known for their way with words – and being able
to describe horrible small places in a way which makes buyers think about them
in a different light. However, there is some important terminology that
estate agents need to be aware of in English. It is crucial that you only use
this vocabulary in
the right setting and don’t make any mistakes concerning meaning.
50 advanced English for real estate terms.
Appraisal. An estate agent carries out an appraisal or
valuation in order to quantify the value of the real estate.
APR (Annual Percentage Rate). This refers to the interest
on a loan.
Balance Outstanding. How much of the loan the buyer owes to
the mortgage lender.
Bridging Loan. This is a loan to help buyers who need to
bridge the gap between selling their current home and buying a new one. Buyers
pay off the bridging loan as soon as they sell their home. This prevents deals
falling through due to issues with chains.
Break Clause/Release Clause. In fixed-term tenancies, these
terms refer to clauses which allow for renegotiation of the contract.
Building Society. This is a kind of bank, however, a
building society only deals with mortgages and long-term savings.
BTL (Buy to let). There is a specific type of mortgage and
legislation concerning arrangements for buyers who purchase a property to rent
out.
Chain. The sale of a property is often limited because the
owners have not yet purchased a new home.
Chain Free. A situation of a property being chain free is
when the seller does not need to find another property to live in. Fortunately,
the sale of the property is not dependant on the seller finding another
property yo buy.
Collateral. In the case of a mortgage, the collateral is
the house or flat. The collateral offers security to the bank who provide the
loan.
Completion Date. The big day when all documents will have
been signed and distributed and the keys are handed over to the new owners.
Conveyancing. All the paperwork related to buying and
selling real estate.
Deeds. Legal papers which certify ownership of real
estate.Deposit – the lump sum that the seller pays towards the cost of the
property.
Disbursements. Payments and expenses that a solicitor pays
on behalf of the seller.
Early Repayment Charge (ERC). Another way of saying this is
early repayment penalty (ERP). This is a charge that the bank or building
society imposes if the buyer of a home with a mortgage pays off the mortgage
earlier than agreed.
Equity. Equity is the amount of money that the homeowner
actually owns – it is the difference between the value of the property and the
amount of the mortgage.
First-time buyer. A buyer who has never owned a property
before and therefore has no mortgage or chain in the selling process.
Fixed Price. Sometimes sellers or vendors will only accept
a certain price for the property. They do not accept offers so the property is
referred to as fixed price.
Fixtures and Fittings. Objects in a property that are not
part of the structure such as carpets and curtains.
Freehold. If a property freehold it means that the real
estate includes the property and the land it is situated on for an indefinite
amount of time.
Full Structural Survey. This is a comprehensive assessment
of the main features of a property such as electrical wiring, foundations and
plumbing.
Gazumping. Even though it sounds like an invented word, it
is a valid term in English for real estate. Gazumping is when the vendor
accepts an offer but at the last minute rejects it for a higher offer.
Gazundering. An equally made-up sounding word, Gazundering
is when a buyer lowers their offer right at the last minute.
Gas Safety Regulations. Landlords and landladies must
ensure that their properties meet safety standards specified by the gas safety
regulations. A CORGI registered engineer must carry out annual checks.
Guarantor. Sometimes in order to be granted a mortgage, the
buyer must have a guarantor. This is somebody with a better credit rating than
the buyer who signs that they will cover any mortgage payments.
Ground Rent. An amount of money the
leaseholder (property owner) pays annually to the freeholder of a
property (land owner).
Home Buyers Report this is like a mini-survey of the house.
It covers the accessible parts of the property.
Home Improvement Agencies (HIAs). This type of agency helps
vulnerable homeowners on a low income maintain their homes.
Housing Association. A non-profit enterprise which allows
buyers to purchase a portion of a property and pay off the rest with rent.
IFA – Independent Financial Advisor
Inventory. A conclusive list of everything contained in the
property.
Joint Tenants. When two or more people rent a property,
perhaps a couple or friends. They share the responsibility for the payments, so
if one were to die, the other(s) would have to pay the full amount.
Joint Mortgage. A mortgage taken out by two people.
Land Certificate. A certificate from the land registry
which proves ownership of a piece of real estate.
Land Registry. All the official records of properties owned
in England and Wales are recorded in the land registry.
Leasehold. One of the most confusing terms in English for
real estate. This type of ownership is when the structural property is owned
but the land on which it stands is not. Often some type of ground rent applies.
Mortgage Deed. The conditions relating to a mortgage are
specified in this document.
Mortgage Offer. An official letter from the bank or
building society which details the conditions of a mortgage.
Negative Equity. Unfortunately, this may occur when the
value of a property is less than the amount of money still owed on the
mortgage.
No Sale, No Fee. Estate agents offer different types of
services and corresponding fees within their business. However, the no sale, no
fee agreement means that if the house does not sell, the vendor does not have
to pay anything to the estate agent.
OMV (Open market Value). The estimated value of a property
on the open market.
Public Liability Insurance. An obligatory insurance that
provides cover against death or injury to anyone in or around a property.
Repossession. If a buyer cannot make the repayments on a
mortgage, the bank or building society may repossess the house. They often sell
the houses off at auction in order to make back some of the money still owed.
RTB (Right to Buy). Depending on how long a tenant has
lived in a council property they may have the right to buy.
Shared Ownership. Housing associations sometimes offer this
scheme which allows first-time buyers to purchase shares in a property, rather
than the full amount. However, the buyer then pays rent on the remaining share
or can even buy more shares over time
Solicitor. A type of lawyer who acts on behalf of the buyer
or seller to ensure all legal requirements are fulfilled.Stamp Duty – a
government tax paid by the buyer on completion of the sale.
Survey There are several types of survey, all completed by
a qualified surveyor. The three main types are valuation report, homebuyers
report and full structural survey.
Tenancy Agreement. The rental agreement or contract
specifies terms and conditions between landlord or landlady and tenant.
Transfer Deeds. The land registry can issue an official
document which certifies the transfer of the property from one party to
another.
Under Offer. This is when the buyer has made an offer, the
seller has accepted the offer but the sale has not legally been completed yet.
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