Buying or Selling a house? Here is a list of Technical & Financial Jargon Explained to help you on your way!
Advance: A mortgage loan.
Auction: Sale of property to the highest bidder, who, on succeeding at the bid is legally bound to buy the home. 10% of purchase price must be paid on completion of bidding.
Annuity Mortgage: A mortgage where interest and part of the loan is repaid each month.
Booking Deposit: Nominal refundable deposit paid subject to contract (private treaty only).
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