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!

Balcony

(1) A balustrade, railed, elevated platform projecting from the face of a building (2) An upper floor seating area in a theater

Balloon

(1) The final payment of a balloon note (see which) (2) A landlocked parcel of land

Balloon Construction

Type of framing with long studs going up the entire length of the house, from the foundation to the roof No longer permitted as …

Balloon Frame Construction

A term describing the framing used in a two story wood construction where the studs extend from the sill (ground level) to the ceiling …

Balloon Mortgage

A mortgage that has a final payment larger than the other payments For example, a thirty year loan due in five years would have …

Balloon Note

A note calling for periodic payments which are insufficient to fully amortize the face amount of the note prior to maturity, so that a …

Balloon payment

The final payment of a mortgage loan that is considerably larger than the required periodic payments, because the loan amount was not fully amortized

Baltimore Rule

An appraisal method for setting a value on a corner lot The lot is appraised as an inside lot for its front footage on …

Baluster

The supporting posts of a handrail in a staircase

Balustrade

A row of balusters supporting a handrail

Bank

(1) The elevated land on each side of a river or stream which keeps the water in its natural channel (2) See: Commercial Bank

Bankrupt

One who is adjudicated a bankrupt by a court having proper jurisdiction The bankruptcy may be voluntary (petitioned by the bankrupt) or involuntary (petitioned …