Studying for the real estate exam involves tackling tricky real estate exam vocabulary. For most of us, it's like learning a foreign language. Our reading materials contain words most of us have never used or even heard of prior to our real estate pre-licensing classes.
Luckily, we can rely on memory tricks and flashcards to help us review. Below are some of the words that I struggle to remember the most:
Real Estate Vocab Ending in EE
Real Estate Vocab Ending in OR
It's a bit confusing to keep the vocabulary words that end in -ee and -or straight. Who is the lessee and who is the lessor? What is the person called who makes an offer on a home?
The chart above will help you keep these words straight. It should help you determine what the role of each party is if you are presented with questions in the exam that contain them.
Breaking it Down...
Remember that a mortgagee is the lender in a mortgage, and a mortgagor is the borrower in a mortgage.
A vendee is the buyer in a land contract, and a vendor is the seller in a land contract.
A trustee is the neutral party that holds the deed in a deed of trust. A trustor is the borrower in a deed of trust.
A lessee is the tenant, whereas the lessor is the landlord.
An offeree is the person to whom an offer is made. An offeror is a person who makes an offer.
An optionee is person to whom an option is given, while an optionor is the person who gives an option.
Practicing and understanding the vocabulary in the exam will help give you an edge when you're faced with taking the exam!