Free Real Estate Vocabulary Flashcards

Pass the real exam by knowing all of the vital real estate vocabulary terms that are crucial to passing the real estate licensing examination. Study all of the important real estate glossary terms and definitions, and pass with confidence!

Safe Drinking Water Act (SDWA)

A governmentact established by the EPA that sets qualitystandards for water intended for humanconsumption

Safety Clause

A clause in a listing protecting the broker from having buyer and seller wait until the listing expires to make a deal, thereby avoiding …

Salary

A compensation for services, usually paid at specified intervals, and of a set amount

Sale and leaseback

A transaction in which an owner sells her or his improved property and, as part of the same transaction, signs a long-term lease to …

Sale-Leaseback

A sale and subsequent lease from the buyer back to the seller Although the lease actually follows the sale, both are agreed to as …

Sales Comparison Approach

See: Market Data Approach

Sales contract

A contract containing the complete terms of the agreement between buyer and seller for the sale of a particular parcel or parcels of real …

Sales Kit

Materials carried by a salesperson to aid in listings and sales This is the “tool kit” of real estate, containing forms, maps, tape measure, …

Sales-Assessment Ratio

The ratio of the assessed value of a property to its selling price, which is presumed to be market value This shows the percentage …

Sales-Associate

One who is licensed to work in real estate under a licensed broker

Salesperson

A person who performs real estate activities while employed by or associated with a licensed real estate broker

Salvage Value

The value of a building or portion of a building to be moved from one location for use at another site Most often occurs …