In this vocabulary sheet, we are going to introduce you to some real estate terms, and more particularly:
- Tips to learn real estate vocabulary for beginners;
- A list of words and their meanings for intermediate level learners;
- A list of words and their meanings for advanced learners;
- Some common expressions.
Let’s start!
Wether you wish to take the IELTS, TOEIC, TOEFL, CAE, FCE, BRIDGE, BULATS (Linguaskill) or even BRIGHT ENGLISH , you need to enhance your English vocabulary in order to prepare for your test. Vocabulary is also essential if you wish to learn English to perfection on your own! We have have made a long list of vocabulary worksheets:
- Anthropology Vocabulary
- Chemistry Vocabulary
- Stock Market Vocabulary
- Purchase Vocabulary
- Product Vocabulary
- Research Vocabulary
- Phone Vocabulary
- Payment Vocabulary
- Office Supplies Vocabulary
- Management Vocabulary
- Law Vocabulary
- Human Resources Vocabulary
- The Factory Vocabulary
- Vocabulary List: Bank and Finance
- Computer Vocabulary
- Marketing Vocabulary
- Social Media Vocabulary
- Meteorology Vocabulary
- Culture Vocabulary List
- Architecture Vocabulary
- Sociology Vocabulary
Learn Real Estate Vocabulary Words for Beginners
A classic way to learn vocabulary is to make vocabulary cards. To memorise vocabulary more easily, use a mental image for each new word. This way, everyone can use one’s imagination, memories or emotions.
Check out some vocabulary learning resources and select the topic real estate, if you’ve landed on this page then you’ve already done it.
Real Estate Vocabulary: List of Words for Intermediate Learners
| Word | Definition |
|---|---|
| A | |
| Affordable | Housing for sale or rent, available at below-market rate, often for low-income households. |
| As-is | May mean to sell the estate in the state it is at a given time. It may also refer to a lesser value of the good |
| B | |
| Beach front | A property facing and overlooking the sea |
| Blind offer | It’s a sale of a property without viewing it, which often happens when the property is of great value and one have to be swift to be able to purchase it |
| Buyer’s agent | He or she’s an intermediary between two or more parties for the carrying out of a real estate’s purchase. He or she must be the holder of a professional card, subject to professional aptitude and character requirements |
| C | |
| Conventional sale | It is a sale of a freehold property. When there’s no remaining mortgage to be paid by the first owner |
| Counter offer | It’s an act in which a seller expresses his or her disagreement with the buyer’s offer to purchase a property. This dissatisfaction is usually related to the price, and the seller then submits a new price offer |
| D | |
| Double vanity | Duplicate pieces of furniture in the bathroom |
| Due diligence | A period of time given to the buyer for him or her to make any necessary checks on the property’s status before closing the sale |
| E | |
| Ensuite bathroom | A bathroom that opens directly into a bedroom as a suite of rooms |
| Equity | It’s the net value of a real estate , and in this case is the difference between the market value and the mortgage balance |
| F | |
| Fenced | A property surrounded by a separation device to protect the property from intrusion |
| H | |
| Historical | To qualify a property as historical, it must have three criteria: enough aging, good preservation and a significant history. In all cases, there must not have been any change in its appearance |
| Household | All the inhabitants of the same dwelling, considered as the main residence, regardless of whether these people are bound by family ties or not |
| I | |
| Investment | It’s the acquisition of a property not for living in it, but as a savings strategy to generate income, for example by renting it |
| Intimate | Often describes a secure private property, protected from the outside environment |
| L | |
| Lake front | A real estate with a view on a lake. |
| Located | Describes the precise whereabouts of the property |
| M | |
| Modern | It’s a style of dwelling made of specific materials for its construction and complying with a set of environmental and energy standards required nowadays |
| N | |
| Negotiable | A property that can be sold or achieved without any further restrictions, procedures or statements |
| New | It’s a dwelling that was built no more than five years ago, that had never been sold by its first owner and where no one ever lived |
| O | |
| Offer | It’s a legal act by which a potential buyer informs the seller of his or her willingness to buy the property at a given price |
| P | |
| Purchase and sale agreement | It closes the real estate transaction and is immediately followed by the handover of the property from the seller to the buyer |
| R | |
| Real estate agent | He or she represents two or more parties as an intermediary in the purchase price, sale or rental of real estate, business assets or company shares |
| Real estate market | It's the market for over the counter real estate transactions where selling owners hand real estate to buyers in exchange for a price |
Real Estate Vocabulary: List of Words for Advanced Learners
| Word | Definition |
|---|---|
| A | |
| Alluring | A real estate which has a great appeal to its prospective buyers by its charm and qualities |
| B | |
| Back up offer | It’s a prospective buyer who submits an acquisition offer in case the current buyer withdraws. He can pay earnest amount of money for this operation |
| Beamed wood ceiling | It’s the horizontal surface that constitutes the upper part of a room or any enclosed space and is in this case made up of a traditional wooden structure |
| C | |
| Closing costs | They cover a variety of costs and fees associated with closing your mortgage loan, including legal and administrative fees that you will have to pay before or after the closing date of your property purchase. These costs aren’t part of your mortgage payments |
| D | |
| Days on market (DOM) | This is the length of time between the moment the real estate is listed as for sale and the moment a buyer has signed a contract. The real estate is then removed from display |
| E | |
| Escrow holder | Any person, natural or legal, not necessarily a financial organisation, who is entrusted with the responsibility for the property of a person deposited in trust and who must ensure that all the clauses of the trust deed are respected |
| F | |
| FHA Loans | Federal Housing Administration loans have competitive interest rates, smaller deposits and lower closing costs than conventional loans |
| I | |
| Ibuyer | It’s a company that uses technology to make a quick offer on your home. It handles the entire process of buying, renovating and reselling your property. This service gives you the assurance and the timing of a sale |
| M | |
| Minimalist | It aims at a return to the essential where the redundant has no place. Simple living spaces, sober colours and simple furniture are the characteristics of this style of decoration |
| Q | |
| Quaint | A property referred to as original, it might be something old, which is different from what is currently seen |
| S | |
| Short sell | The sale of the property is concluded below its value, or at least below the funds needed to pay off the fixed rate mortgage. The lender must therefore take some extra safeguards, which makes this sale more complex than a conventional sale |
| T | |
| Termit report | It’s a document that must be carried out in classified termite areas. It is a diagnosis on the existence or not of termites in a dwelling. |
| X | |
| X-car garage | A reference to a garage that can house several cars in a real estate sale’s advertisement |
List of Some Terms and Expressions Related to Real Estate
Let’s go over some expressions regarding real estate businesses.
Accommodation:
The act of housing an individual under one’s roof, to receive, provide food and lodging for a guest momentarily.
Buying a property:
Becoming the owner of a property after having paid the cost bid by its seller.
Cottage:
A stocky, mainly wooden mountain dwelling with loggias and an oversized roof, or a leisure dwelling of the same design, made of hardwood materials.
Deck:
An open space that may or may not be tied to a building. It can be on the ground floor or on a raised level. It can be made of wood, tiles, stone or in a simple concrete slab.
Flat:
A housing unit, with a certain number of rooms, which covers only a part of a building, most often located in a city.
Gated:
A kind of big door on an enclosure surrounding a house.
Owner:
Someone who owns a legally held good.
Porch:
A space often glassed in against a house, usually used as a small sitting room.
Renting a property:
To grant the use of a dwelling in return for regular payment while remaining the property owner.
Selling a property:
A transaction that transfers ownership of real estate to another person in exchange for payment.
Tenant:
A person occupying a dwelling in exchange for a rent payment to the owner.
Walking distance:
Meaning in a place close to a specified key location.
Well-priced:
Price of a property that is below its real value, its buyer will benefit from it.
Study and Learn English Vocabulary Online with GlobalExam
GlobalExam is an online platform that offers various services for your language learning. We offer content such as a glossary of terms, quizzes… We accompany learners in more than fifty countries around the world.
