Estate Terms. Rate Gap The difference between the current rate and the rate to which it could adjust on an ARM. Realtor Even if you know every one of the real estate terms on this list and how to use them, your clients expect you to be their interpreter. Acceptance: the date when both parties, seller and buyer, have agreed to and completed signing and/or initialing the contract. We created this glossary to define and explain a collection of terms and A written document in which the purchaser agr