REAL ESTATE GLOSSORY

Amanullah panjwani

A FOR AMORTIZATION

Amortization: to spread a payment over a time period rather than making the total payment all at once.

Amortization schedule:a table or sheet that has all the information related to division of a payment over a time period; including the interest rate and amount of payment at each stage.

B FOR Bill Of Sale Bill Of Sale: A document used for transferring real estate, often used

as a measure of security for a debt.

Broker: A person involved in selling or buying property for others, who initiates and mediates the negotiation between the two parties.

C for crowd funding Crowd Funding:

The Collection Of Finances For A Project From Many People, Commonly Through The Internet.

D FOR DEPOSIT• Deposit:

the first installment of a payment, when something is bought on credit.

• Depreciation a decrease in value of something over time.

• Down Payment:the initial payment made for a contract, submitted as a pledge for a contract.

F For Farmhouse  Farmhouse:

typically refer to accommodation on a farm or a barn in the countryside. However, in the modern urban context, it refers to a similar palatial lodging on the outskirts of the city that may be used for permanent or occasional living or recreation.

House Building Loan: loan acquired for building a home, home financingthe provision of loan by the seller to the customer for buying a house, allowing the customer to buy the home in installments.Home Loan :received by the customer by a firm or seller to allow him/her to buy the house on installments, home loan comparison ratesa tool that can be used by customers to compare the loans by different firms or sellers to find the actual cost of a loan, considering the interest rate and payments.

H FOR HOUSE BUILDING LOAN

Loan Amortization:scheduled payments at periodic intervals of both principal payments and the interest by a customer.Lower Portion: refers to the ground floor of a double or multi-storied house that is often sublet on monthly rent and is ideal for small families or single / double occupation.

L FOR LOAN AMORTIZATION

M for Mortgage loan

Mortgage Loan:a loan for transferring a property to the loan provider as security on a loan by the customer.

•Payment Schedule:payment schedule refers to the time or dates at which the payments for a loan to be made•Plot Fileswritten documentation or papers of land plots for sale in housing communities that have not reached completion yet or have not been opened to public. These files are allotted to individuals after a balloting and the possession of the plots is handed over to the respective owners against the plot files after completion of development.•Property Lease Agreementa contract by which owner of the property lends property to the customer for a specified time

P FOR PAYMENT SCHEDULE

R FOR RENT AGREEMENT

RENT AGREEMENT:a contract for letting a property or house to a customer for a specific time in return a periodic payment.

S FOR STUDIO APPARTMENT

STUDIO APPARTMENT: a flat or apartment having one main room or hall connecting all the parts of the apartment

T FOR TENANCY AGREEMENT

T For Tenancy:contract between the owner of the contract and the

tenant, in exchange for

periodic payments.

U FOR UPPER PORTION• • 

U FOR UPPER PORTION:Refers to the second, third or greater floor of a multi-storied house that is often sublet for monthly rent and is likewise suitable for small families or single / double occupation.