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When it comes to property, there can be a lot to get your head around. Lengthy contracts, difficult to read paperwork and not to mention the confusing language. Here is a list of common terms to help you beat the jargon whether you're buying, selling, renting or a landlord. Agreement in principle.
- The Terminology For Property Estate Agents Will Use
- Words An Estate Agent May Use as Jargon That Are Funny
- Property Descriptions from Estate Agents
- Popular Terms Used by Estate Agents
- Estate Agent Buzzwords
The list is very long and this is a glossary of most of them. It’s not exhaustive and this is purely for information purposes. Below we also take a light-hearted look at some of the everyday phrases that agents use. Annual Percentage Rate (APR) The loan’s total cost over 12 months, expressed as a percentage which includes interest charges and arran...
Finally, let us have a closer look at funny estate agent jargon – and there are lots of estate agent catchphrases and estate agent funny quotesthat are worth smiling over. For example, when an estate agent says, “This property is ideal for a first-time buyer or for those wanting a buy-to-let investment.” What they probably mean is: “The property we...
Similar to ‘in need of modernisation’ there are also several other similar terms you’ll often come across in the property descriptions. When we’ve looked for properties, we’ve often come across properties described as a ‘blank canvas’. Now, sometimes we’ve viewed properties like this that have simply been decorated in neutral colours and are in lov...
Other popular terms used by estate agents will be to describe a property as being conveniently located, which means potential buyers need to be aware that their home is likely to be on a very busy main road and perhaps above a busy takeaway. There are terms being used that should flag up the property as a potential bargain and these include: 1. The...
Other estate agent buzzwords to be wary of include: Translation: The home has a busy railway line or motorway within yards of it! Translation: The third bedroom can barely fit a person into it! Translation: The home is in the centre of a very large housing estate! Translation: A basement flat that’s likely to be dark and damp! Translation: The rear...
Mar 20, 2023 · When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. Keep this guide handy — you'll be fluent in the language of home buying before you know it.
- 7 day notice. Notice period required by the banks before exchange of contracts on a repossessed property.
- Best and final. When a property has more than one interested party, and negotiations are going back and forth with both parties increasing, a situation may occur where sealed bids are offered.
- BMV. Below market value (don’t use this! They may not know what it means)
- Broker. Mortgage broker who offers finance.
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
The process of buying, selling, and investing in real estate is complicated and not surprisingly, so is all the terminology that comes with it. As a jumping off point, we’ve compiled 50 of the most common terms used in real estate and defined them for you. Real estate terms: A through E; F through J; K through O; P through T; U through Z
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Mar 2, 2024 · – Definition: Describes a property that meets a buyer’s needs perfectly. – Example: “You’re gonna love this place—it hits the sweet spot between cozy and spacious. Plus, it’s got a kitchen island big enough to land a helicopter on!”
