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!

Off-Site Improvements

Development of land to make adjacent property suitable for construction Includes sidewalks, curbs, streets, sewers, streetlights, etc

Offer

A presentation or proposal for acceptance, in order to form a contract To be legally binding, an offer must be definite as to price …

Offer And Acceptance

Necessary elements of a contract to sell real estate See also: Offer; Acceptance

Offer and notification of acceptance

The two components of a valid contract; a “meeting of the minds”

Offer of Compensation

The commission that willbe paid on the sale of property

Offer of Cooperation

An open invitation to otherbrokers to sell property listed by another broker

Offer To Purchase

See: Purchase Agreement

Offeree

One to whom an offer is made

Offering Plan

A document provided by the sponsor(of a condominium or co-op) that offers detailedinformation regarding the property Also called:Offering Statement

Offeror

One making an offer

Office

A zoning designation allowing businesses to carry on their paperwork rather than manufacturing or sale of inventory to the public on the site Some …

Office Manager

A licensed associate real estatebroker who elects to work as an office managerunder the name and supervision of an individualbroker or another broker who …