synonyms in real estate

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32 Terms

1
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blockbusting

panic peddling

2
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steering

channeling

3
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breach

default

4
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joint tenancy

tenancy by the entirety (married)

5
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loan buydown

discount points

6
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lot and block or recorded map

recorded plat

7
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government survey system (GSS)

rectangular survey system (RSS)

8
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market data approach

sales comparison approach

9
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income approach

capitalization method

10
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economic obsolescence or external obsolescence

environmental obsolescence

11
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special agency

limited agency

12
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homeowner’s association (HOA) or property owner’s association (POA)

condominium association

13
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client

principal

14
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non-conforming use

grandfathered use

15
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buyer’s agent

selling agent

16
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buyer’s broker

selling broker

17
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escrow account or trust account

impound account or reserve account

18
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mortgage

deed of trust

19
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lender or creditor or lienholder

beneficiary (in a deed of trust) or mortgage

20
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note

promissory note

21
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take back or carry back

owner financing or seller financing

22
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funding fee

guarantee fee

23
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water’s edge or vegetation line

high tide line

24
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alienation or transfer

due on sale clause

25
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devise

real property inherited by will

26
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devisee or beneficiary

heir - recipient of real property by will

27
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personal property or personalty

chattel

28
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forcible entry and detainer

eviction

29
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recording

filing

30
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closing

consummation

31
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fixture

improvement (not an accessory)

32
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contract for deed or installment contract

land contract or real estate contact — mortgage’s executory contract (REMEMBER: THIS IS NOT THE SAME AS AN INSTALLMENT SALE!!!)