property

Definition

Physical real estate or a tangible asset; what real estate agents spend 40% of their time showing you while you check your phone. The business of convincing people that paying $500k for a shoebox is 'an investment.'

Example Usage

The investment group bought three commercial properties in the downtown corridor.

Source: Real estate and property law terminology

Related Terms

Beginner

Charming

A listing adjective that means the house is old, small, or both, but has at least one original feature the agent can romanticize. Translation: nothing has been updated since the Carter administration, but look at these original hardwood floors.

🏠 Real Estate

Intermediate

deeds

Legal documents that prove you own property and transfer that ownership from one person to another. Think of a deed as the property equivalent of a receipt, except way more important and filed at the courthouse.

🏠 Real Estate

Advanced

gift of equity

When a seller (usually a family member) sells a property below market value and treats the difference as a down payment gift. It's nepotism in real estate form, and the IRS has feelings about it.

🏠 Real Estate

Advanced

Title Insurance

Insurance that protects you in case someone crawls out of the woodwork claiming they actually own your house. You pay for it once, pray you never need it, and wonder what kind of chaos could possibly require it. Spoiler: the chaos is always there.

🏠 Real Estate

Beginner

price per square foot

A metric that pretends all square feet are created equal, whether they're in a penthouse or a basement. It's the real estate version of judging a book by counting the pages without reading any of them.

🏠 Real Estate

Beginner

Landlord

A property owner who rents to tenants and spends their free time calling a plumber or texting the tenant about the rent check that's three days late.

🏠 Real Estate

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Intermediate

contingent

In real estate and business, a condition that must be satisfied before a deal becomes final—essentially an escape hatc...