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houseIn this business vocabulary topic we're going to look at some real estate vocabulary, words and phrases related to buying and selling property.

The real estate market is one of the engines of the developed world’s economies, and the buying, building, selling and remodelling of homes adds a huge percentage to most large economies’ GDP each year. But there are a lot of complicated terms and related vocabulary that even native English speakers aren't always familiar with. Real estate terms and laws, too, change from place to place and country to country.

The following dialogues illustrate how common real estate words and phrases are used in context (Note: these terms concern the real estate market in North America). If you single-click the words and phrases highlighted, a pop-up box will give you the meanings and give further examples of usage. After reading the two dialogues, try the practice exercises to test your understanding of the vocabulary.