ASL Real Estate Terminology Glossary
40+ real estate terms explained in plain language with ASL signing context. A study reference for Deaf real estate students and professionals.
Why This Glossary Exists
Real estate is full of specialized jargon. For Deaf students preparing for licensing exams, that jargon creates a double barrier. First, the terms themselves are unfamiliar. Second, many of these words do not have direct equivalents in American Sign Language. Studying from English-only textbooks means constantly pausing to decode vocabulary before you can even begin learning the concept behind it.
This glossary bridges that gap. Each term includes a plain-language definition written in clear, direct English, plus a note about how the term is typically handled in ASL conversation. Some terms are fingerspelled. Some have established signs. Some are expressed through compound signs or conceptual descriptions. Knowing what to expect when you encounter these words in ASL helps you study more efficiently and communicate about real estate more confidently.
This glossary does not teach ASL signs. It provides the English-side vocabulary knowledge you need so that when you encounter these terms in ASL instruction, interpreting, or conversation, you already understand the underlying concept. For ASL-first instruction on all of these topics, see our Training Program or explore our ASL-first exam prep.
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Transaction Basics
The core vocabulary you will encounter in every real estate deal, from the first offer to the final handshake.
Closing
The final step in a real estate transaction where ownership officially transfers from seller to buyer. Both parties sign documents, funds are exchanged, and the deed is recorded. After closing, the buyer gets the keys.
ASL: Often fingerspelled C-L-O-S-I-N-G or signed as FINISH+SELL concept. Context determines the sign used.Escrow
A neutral third party holds money and documents until all conditions of the sale are met. Think of it as a trusted middleman. Neither buyer nor seller can access the funds until both sides fulfill their obligations.
ASL: Usually fingerspelled E-S-C-R-O-W. No widely established single sign.Earnest Money
A deposit the buyer makes to show they are serious about purchasing the property. It is held in escrow and typically applied toward the purchase price at closing. If the buyer backs out without a valid reason, they may lose this deposit.
ASL: Often signed as SERIOUS+MONEY or DEPOSIT. The concept of "good faith deposit" is commonly used in ASL explanation.Listing
A property that is officially for sale, usually posted on the MLS so other agents can see it. When an agent "gets a listing," it means a seller has hired them to market and sell their property.
ASL: Commonly fingerspelled or signed as HOUSE+FOR-SALE concept.MLS (Multiple Listing Service)
A shared database where agents post properties for sale so all agents in the area can find them. Access is restricted to licensed agents and brokers. It is the central marketplace for real estate.
ASL: Usually fingerspelled M-L-S. Widely recognized abbreviation in the industry.Offer
A formal written proposal from a buyer to purchase a property at a specific price and under specific conditions. The seller can accept, reject, or counter the offer.
ASL: Established sign for OFFER exists. Used naturally in real estate conversation.Counteroffer
When a seller responds to a buyer's offer with different terms instead of accepting or rejecting it outright. This starts a negotiation. Counteroffers can go back and forth multiple times.
ASL: Common compound sign COUNTER+OFFER or BACK-AND-FORTH+OFFER concept.Contingency
A condition that must be met before the sale can go through. Common contingencies include the home passing inspection, the buyer getting approved for a mortgage, and the property appraising at or above the purchase price.
ASL: Often fingerspelled. Conceptually explained as IF+CONDITION+MUST+SATISFY before sale proceeds.Due Diligence
The period after an offer is accepted when the buyer investigates the property thoroughly. This includes inspections, reviewing documents, and verifying that everything about the property is as expected.
ASL: Often fingerspelled or expressed as INVESTIGATE+CAREFUL+CHECK concept.Property Types
Different kinds of real estate you will study and work with. Knowing these distinctions matters for the licensing exam and for advising clients.
Single-Family Home
A standalone residential property designed for one family. It sits on its own lot and does not share walls with another home. This is the most common property type in U.S. real estate.
ASL: Signed as ONE+FAMILY+HOUSE. Straightforward compound sign.Condominium (Condo)
A unit within a larger building or complex where you own the interior of your unit but share ownership of common areas (hallways, pool, parking) with other owners. Monthly HOA fees cover shared maintenance.
ASL: Usually fingerspelled C-O-N-D-O. Widely recognized abbreviation.Townhouse
A multi-story home that shares one or two walls with neighboring units but has its own entrance and often its own small yard. You own the structure and the land beneath it, unlike a condo.
ASL: Often fingerspelled or signed as ROW+HOUSE concept.Multi-Family Property
A building with multiple separate living units, such as a duplex (2 units), triplex (3 units), or fourplex (4 units). Investors often buy these to live in one unit and rent the others.
ASL: Signed as MANY+FAMILY+BUILDING or using specific number classifiers for unit count.Commercial Property
Real estate used for business purposes rather than housing. Includes office buildings, retail stores, warehouses, and restaurants. Commercial transactions follow different rules than residential.
ASL: Signed as BUSINESS+BUILDING or COMMERCIAL. Established sign exists for COMMERCIAL.Vacant Land
A parcel of land with no buildings on it. Buyers purchase vacant land to build on, farm, or hold as an investment. Financing vacant land is different from financing a home.
ASL: Signed as EMPTY+LAND. Clear compound sign.Foreclosure
A property that the bank has taken back from the owner because they stopped making mortgage payments. Foreclosures are often sold below market value but may need significant repairs.
ASL: Often fingerspelled or signed as BANK+TAKE-BACK+HOUSE concept.Financing & Mortgages
How buyers pay for property. These terms come up constantly on the licensing exam and in every transaction involving a loan.
Mortgage
A loan used to buy property, where the property itself serves as collateral. If the borrower stops making payments, the lender can take the property through foreclosure. Most home purchases involve a mortgage.
ASL: Often fingerspelled M-O-R-T-G-A-G-E. Some signers use HOUSE+LOAN concept.Down Payment
The portion of the purchase price the buyer pays upfront in cash. The mortgage covers the rest. A larger down payment usually means a lower monthly payment and better loan terms.
ASL: Signed as DOWN+PAY or FIRST+PAYMENT. Common compound sign.Pre-Approval
A letter from a lender confirming that the buyer qualifies for a specific loan amount based on their income, credit, and financial situation. Sellers take offers more seriously when the buyer is pre-approved.
ASL: Often fingerspelled PRE then signed APPROVE. Two-part expression.Interest Rate
The percentage the lender charges for borrowing money. A lower interest rate means lower monthly payments. Rates can be fixed (stays the same) or adjustable (changes over time).
ASL: Signed as INTEREST+PERCENT or RATE. Established signs exist for both concepts.Principal
The actual amount of money borrowed, not including interest. Each monthly mortgage payment includes a portion that goes toward paying down the principal and a portion that pays interest.
ASL: Often fingerspelled. Easily confused with "principle" (a rule). Context is important.Equity
The difference between what your property is worth and what you still owe on your mortgage. If your home is worth $300,000 and you owe $200,000, you have $100,000 in equity. Equity grows as you pay down the loan or as the property increases in value.
ASL: Often fingerspelled E-Q-U-I-T-Y. Conceptually explained as OWN+PORTION+VALUE.FHA Loan
A mortgage insured by the Federal Housing Administration. FHA loans allow lower down payments (as low as 3.5%) and are designed for first-time buyers or people with lower credit scores.
ASL: Fingerspelled F-H-A then signed LOAN. Standard industry abbreviation.Conventional Loan
A mortgage that is not backed by a government agency. Conventional loans typically require higher credit scores and larger down payments than FHA loans, but they often have lower overall costs.
ASL: Fingerspelled or signed STANDARD+LOAN. The concept REGULAR+LOAN is also used.Legal & Contracts
The legal framework behind every real estate transaction. Understanding these terms is essential for the exam and for protecting your clients. For information about your legal rights as a Deaf person in real estate, see Can a Deaf Person Become a Realtor?
Title
The legal right to own, use, and sell a property. A "clear title" means there are no disputes, liens, or claims against the property. Title searches are done before closing to verify ownership.
ASL: Often fingerspelled T-I-T-L-E. Context distinguishes it from other meanings of the word.Deed
The physical document that transfers property ownership from one person to another. The deed is signed at closing and recorded with the county. It is the legal proof that you own the property.
ASL: Often fingerspelled D-E-E-D. Short word, quick to spell.Lien
A legal claim against a property, usually because the owner owes money. A mortgage is a lien. Tax debts, unpaid contractors, and court judgments can also create liens. Liens must be resolved before a property can be sold with clear title.
ASL: Often fingerspelled L-I-E-N. Conceptually explained as LEGAL+CLAIM+AGAINST+PROPERTY.Agency
The legal relationship between a real estate agent and their client. When you represent a buyer or seller, you have a fiduciary duty to act in their best interest. Agency law is a major topic on the licensing exam.
ASL: Signed as AGENT+RELATIONSHIP or REPRESENT concept. Not the same as the sign for "agency" meaning organization.Fiduciary Duty
The legal obligation to act in your client's best interest above your own. As an agent, you owe your client loyalty, confidentiality, full disclosure, obedience, reasonable care, and accurate accounting.
ASL: Often fingerspelled FIDUCIARY. The concept RESPONSIBLE+TRUST+DUTY is commonly used in ASL explanation.Disclosure
The legal requirement to reveal known information about a property's condition, defects, or history. Sellers must disclose issues like water damage, foundation problems, or environmental hazards. Failing to disclose can lead to lawsuits.
ASL: Signed as REVEAL or INFORM+MUST. Established sign for DISCLOSE exists in legal ASL contexts.Easement
The legal right for someone to use a portion of another person's property for a specific purpose. A common example is a utility company having an easement to run power lines across your land.
ASL: Usually fingerspelled E-A-S-E-M-E-N-T. Conceptually explained as RIGHT+USE+PART+LAND.Zoning
Local government rules that control how land can be used. Zoning determines whether a property can be used for residential, commercial, industrial, or agricultural purposes. Agents need to verify zoning before clients make purchase decisions.
ASL: Often fingerspelled or signed as ZONE+RULES. The concept AREA+LAW+USE is common in explanation.Addendum
An additional document attached to a contract that adds, changes, or clarifies terms. For example, a buyer might add an addendum requiring the seller to repair the roof before closing.
ASL: Often fingerspelled. Conceptually expressed as ADD+TO+CONTRACT or EXTRA+PAPER+ATTACH.Marketing & Business
The business side of real estate. These terms describe how agents find clients, earn money, and grow their practice. For more on building a real estate career, see Become an Agent.
Commission
The fee an agent earns for helping buy or sell a property, usually a percentage of the sale price. Commission is typically split between the listing agent's brokerage and the buyer's agent's brokerage.
ASL: Signed as PERCENT+PAY or EARN+FEE. Established sign for COMMISSION exists.Brokerage
The company that employs or sponsors real estate agents. All licensed agents must work under a broker. The brokerage provides support, training, and legal oversight in exchange for a share of the agent's commission.
ASL: Often fingerspelled or signed as BROKER+COMPANY. Some signers use OFFICE+REAL-ESTATE.Referral
When one agent sends a client to another agent, usually because the client is moving to an area outside the first agent's market. The referring agent typically receives a referral fee, often 20-25% of the commission.
ASL: Signed as SEND+TO or REFER. Established sign for REFER exists.Open House
A scheduled time when a property for sale is open for anyone to walk through without an appointment. Open houses are a marketing tool to attract buyers and generate interest in a listing.
ASL: Signed as OPEN+HOUSE. Direct compound sign, used naturally.CMA (Comparative Market Analysis)
A report an agent prepares showing what similar properties in the area have sold for recently. Sellers use CMAs to set their asking price. Buyers use them to decide how much to offer.
ASL: Usually fingerspelled C-M-A. The full term is explained conceptually as COMPARE+SIMILAR+HOUSE+PRICE.Buyer's Agent
An agent who represents the buyer in a real estate transaction. The buyer's agent helps find properties, writes offers, negotiates terms, and guides the buyer through closing.
ASL: Signed as BUY+AGENT or BUYER+THEIR+AGENT. Straightforward compound.Listing Agent
An agent who represents the seller. The listing agent markets the property, hosts showings, reviews offers, and negotiates on the seller's behalf. Also called the seller's agent.
ASL: Signed as SELL+AGENT or LIST+AGENT. Context makes the meaning clear.Lead
A potential client who has shown interest in buying or selling property. Leads come from marketing, referrals, open houses, online inquiries, and networking. Converting leads into clients is a core skill for agents.
ASL: Often fingerspelled in business context. The concept POSSIBLE+CLIENT is commonly used.Inspections & Appraisals
How properties are evaluated for condition and value. These processes protect both buyers and lenders. For ADA accommodations related to the exam process, see our ADA Accommodations Guide.
Home Inspection
A thorough examination of a property's physical condition by a licensed inspector. The inspector checks the roof, foundation, plumbing, electrical, HVAC, and more. The inspection report helps the buyer decide whether to proceed, negotiate repairs, or walk away.
ASL: Signed as HOME+INSPECT or HOUSE+CHECK. Established signs for INSPECT exist.Appraisal
A licensed professional's opinion of how much a property is worth, based on comparable sales and the property's condition. Lenders require appraisals to make sure the property is worth at least as much as the loan amount.
ASL: Often fingerspelled or signed as VALUE+EVALUATE. The concept PROFESSIONAL+JUDGE+WORTH is used in explanation.Comparable Sales (Comps)
Recent sales of similar properties in the same area, used to determine a property's market value. Appraisers and agents look at comps to justify a price. The closer the comp matches the subject property in size, condition, and location, the more useful it is.
ASL: Usually fingerspelled C-O-M-P-S. The concept SIMILAR+HOUSE+SOLD+RECENTLY is used for explanation.Fair Market Value
The price a property would sell for on the open market under normal conditions, with both buyer and seller acting in their own best interest and neither under pressure. This is different from the asking price, which is what the seller hopes to get.
ASL: Signed as FAIR+MARKET+VALUE. Each word has an established sign. Used as a compound phrase.Title Insurance
An insurance policy that protects the buyer and lender against problems with the property's title that were not found during the title search. If someone later claims they own the property or a hidden lien surfaces, title insurance covers the legal costs.
ASL: Fingerspelled T-I-T-L-E then signed INSURANCE. Two-part expression.Survey
A professional measurement of a property's boundaries, size, and features. A survey shows exactly where the property lines are and identifies any encroachments or easements. Lenders often require a survey before closing.
ASL: Signed as MEASURE+LAND or SURVEY. Established sign exists for SURVEY.Closing Costs
The fees and expenses paid at closing beyond the property's purchase price. These include lender fees, title insurance, attorney fees, recording fees, and prepaid taxes or insurance. Closing costs typically run 2-5% of the purchase price.
ASL: Signed as CLOSE+COST or FINAL+FEE. Compound sign used naturally in transaction discussions.As-Is
A property sold in its current condition with no promise from the seller to make repairs. Buyers can still inspect an as-is property, but the seller is not obligated to fix anything. As-is sales are common with foreclosures and estate properties.
ASL: Signed as NOW+CONDITION or AS+IS. The concept SELL+HOW+IT+IS is commonly used.Study Tips for Using This Glossary
- Use Ctrl+F (or Command+F on Mac) to search for any term on this page. This glossary is designed to be a quick reference you return to while studying.
- Study in ASL first. Read the plain-language definition here, then discuss the concept in ASL with a study partner or tutor. Processing the concept in your first language strengthens retention.
- Focus on categories the exam emphasizes. Transaction Basics, Financing, and Legal terms appear most frequently on state licensing exams. Start there.
- Practice with real exam questions. Our exam prep tool includes practice tests for every state. You will see many of these terms in context, which reinforces both the vocabulary and the underlying concepts.
- Know your rights. If you need accommodations for the licensing exam, start the request process early. See our ADA Accommodations Guide for step-by-step instructions.