you're a first home buyer or new to the real estate scene, you'll no
doubt start hearing terminology that sounds like a foreign language.
32' to 'lenders mortgage insurance', industry experts may forget to
clue you in on what these terms mean and how they will impact your sale.
save you from having to quietly Google each word as it arises, we
decided to take the lead and teach you 20 key phrases you need to know.
Familiarity with these terms will help you understand the language that
real estate agents, mortgage brokers and banks will use throughout your
first homeownership journey.
after that? Knowledge is power, baby. Before you know it, you'll be
skimming through the pages of the Australian Financial Review while you
eat breakfast in your dream home, planning your next big move on the
An appraisal is an estimate of a property's value in the current market. Appraisals take into account
things like property size, location, number of bedrooms, fixtures and
fittings, and are often performed by real estate agents for free.
an appraisal is different from a property valuation, which is a written
report prepared by a professional, who will often charge a cost for