Real Estate Principles Quiz

Refers to the fact that land cannot be moved.

Zoning laws control how land is used and the types of structures allowed in specific areas.

A database where real estate agents list properties for sale.

A neutral third party holds and manages funds until the transaction is complete.

Paying off a loan over time with regular, fixed payments.

Ensuring the property has a clear ownership history and can be legally transferred.

Insurance protecting the lender in case of borrower default, required for high-risk loans.

Acts as an intermediary between buyers and sellers in real estate transactions.

Government's authority to acquire private property for public projects.

Legislation preventing discrimination in housing based on race, color, religion, etc.

Formal agreement allowing an agent to represent a property for sale.

Fee simple ownership is indefinite, while leasehold has a limited term.

Recent sales of similar properties used to determine a property's value.

Determining the market value of a property.

Thoroughly investigating a property before making a purchase.

Allows the deferral of capital gains taxes by exchanging one property for another.

Legal document transferring ownership from seller to buyer.

Rate of return on a real estate investment based on its income.

Identifying and mapping the boundaries of a property.

Assessing the condition of a property before purchase.

Measure of the profitability of an investment.

Document summarizing the financial aspects of a real estate transaction.

Determining the fair market value of a property.

A company that owns, operates, or finances income-generating real estate.

Limits on how a property can be used, often imposed by zoning or covenants.