Something is burnt or burned if it was on fire at some point in the past and is now blackened and charred. Food can become burnt if you cook it for too long.
Something is faded if it has lost a lot of its color and just blends into the background, or is no longer as bright as it once was. The sign painted on the building is very faded, and is hard to read.
Lit is the past tense of light. It might be used to describe how good the light in a room is, for example "the room was brightly lit", or it might describe something that was set alight, "she lit the candle".
Shot is the past tense of shoot. It also describes something that has been damaged by someone shooting at it. The glass in the picture has been shot, and has a bullet hole in it.
Something is sold if someone has bought it. When houses are sold, they usually put a "sold" sign at the front of the house that stays there for some time after the house has been sold.