Real Estate Glossary Terms
Money borrowed that is usually repaid with interest.
The last day of the term of the home loan agreement. The home loan must then be paid in full or the home loan agreement renewed.
A written contract giving a lender security over a property.
One who lends the money for the property.
One who borrows the money to purchase property.
System of selling the property through many agents.
Is where the costs associated with your property investment exceed the income received over the tax year. This loss can be used to offset other income in that year’s tax return.
Is the income on your property less certain expenses such as rates, insurance, maintenance and body corporate levies.
Buying a property based on architect’s plans, before it has been built.
A formal legal agreement which offers a specified price for a specified property. The offer may be firm (no conditions attached) or conditional (certain conditions apply).