New York real estate glossary
Know the term. Understand the rule.
Search 189 exam terms from all 19 New York salesperson curriculum subjects. Every definition opens into a sourced guide with an exam cue, a practical example and the distinction students often miss.
How to use this glossary
Read the short definition first. Then open the term for the exam pattern, New York example and common mix-up.
Filter by topic All 19 topics
9 terms beginning with B
Showing 1 to 9
B
Real estate finance
Balloon payment
A final payment that is substantially larger than the preceding scheduled payments.
Open term guideIncome tax
Basis
A tax measurement used to determine gain, loss, depreciation and other tax consequences for property.
Open term guideLicense law
Blind advertisement
A real estate advertisement that fails to identify the broker or brokerage as required by New York advertising rules.
Open term guideFair housing
Blockbusting
Inducing or attempting to induce a sale or rental by suggesting that protected-class entry or change will cause harmful neighborhood effects.
Open term guideCondominiums and cooperatives
Board package
The application materials a prospective cooperative purchaser or subtenant submits for board review under the cooperative's procedures.
Open term guideMortgage brokerage
Borrower
A person or entity that receives or seeks credit and promises repayment under the loan terms.
Open term guideAgency
Broker's agent
An agent who cooperates with or is engaged by another agent without becoming a subagent of that agent's principal.
Open term guideLand use
Building code
A set of government standards for construction, alteration, occupancy and building safety.
Open term guideMunicipal government
Building department
A local office that administers building permits, code review, inspections and related records.
Open term guide