Fill in the Blanks Real Estate Quiz (Medium)Online version Take your knowledge a step further by completing the fill-in-the-blank quiz with real estate terms! by WM 1 A loan used to buy a house , paid back with interest is called a . 2 The profit made from selling property for more than it was purchased is called . 3 A professional estimate of a property ? s value is called an . 4 A physical document transferring property ownership is called a . 5 A home that needs repairs , often sold for a lower price is called a - . 6 Buying and reselling a property quickly for profit is called . 7 Fees paid at the end of a real estate transaction , including lender fees , title insurance , and taxes are called . 8 The upfront amount a buyer pays when purchasing a home , usually a percentage of the total price is called a . 9 A property owner who rents out space is called a . 10 Taxes paid by homeowners based on property value is called . 11 A company that owns income - producing real estate is called a . 12 The annual rental income as a percentage of a property's price is the . 13 Selling a home for less than the mortgage balance , often to avoid foreclosure is called a . 14 A person who rents a property is a . 15 The portion of a home that a homeowner actually owns , calculated as the home ? s value minus any outstanding mortgage is called . 16 A third - party account that holds money or documents until all conditions of a sale are met is called . 17 When a homeowner fails to pay the mortgage and the lender takes back the property , it is called a . 18 The percentage of rental properties that are unoccupied is called the . 19 A group that enforces rules and maintains common areas in a community , often requiring monthly fees is a . 20 A professional evaluation of a home's condition before purchase is called an . 21 A is a property that is advertised for sale . 22 The price a home would likely sell for in the current market is the 23 A lender ? s confirmation of how much a buyer can borrow before house hunting is called a - . 24 A is a licensed professional who helps buyers and sellers with real estate transactions . 25 A is a legal concept that proves property ownership and describes ownership rights and responsibilities . 26 Government rules that determine how land can be used , such as residential or commercial is called . 27 An is a home loan with an interest rate that changes over time . 28 A - is a home loan with a set interest rate that doesn ? t change . 29 The is the percentage of income used for debt payments , affecting mortgage approval . 30 A charge by lenders to process a mortgage application is called the . 31 are fees paid upfront to reduce a mortgage ? s interest rate . 32 Replacing an old mortgage with a new one , often to get better terms is called . 33 The money left after paying expenses on an investment property is called . 34 A tax on profit from selling real estate is called . 35 Borrowing money to invest more , hoping for higher returns , is called . 36 The dollar amount a local government assigns to a property , which is used to determine how much property tax a homeowner owes is called the .
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