Buyers Agents Sydney Glossary - Terms that agents use while purchase- selling procedure!

Being a successful Buyers agents Sydney will make you the professional which will know all of the details while selling and purchasing procedure is taking place. Next being a buyer in this situation is very difficult without knowing all of the terms used by the agents. It will make you wonder around and not able to focus on the deal. So in addition you can read and learn the Buyers agents Sydney M to Z glossary terms and be prepared whenever in a situation of buying or selling a property.

M- Median Price

A statistical measure often used to measure movements in property prices. The median price is derived by arranging property prices in ascending or descending order and then selecting the middle price. It is not the average.

Mortgage

The loan which is secured by property.

Mortgagee

The lender in a mortgage agreement.

Mortgage Insurance

MI Is the insurance that covers the lender against some of the losses as a result of a default on a home loan. This is usually obligatory on all loans that have a loan-to-value higher than 80 %. The ones above 80% loan-to-value that call themselves "No MI" are usually made at a higher interest rate.

N- Note

It is a legal document that obligates the borrower to reimburse a mortgage loan at a stated interest rate during a specified period of time.

Neutral gearing

The interest payable on an investment loan is equal to the income received.

Negative gearing

The interest payable on an investment loan is greater than the income received.

Note rate

The interest rate stated on a mortgage note.

O - Owner financing

A property purchase transaction in which the property seller provides all or part of the financing.

P- Personal property

Any type of property that is not real a property.

Property Wishlist

A wislist which is completed by the buyer, so the agent can form the basis in the proerty search procedure for the client. It is the first and most important step in selecting the right property!

Principal - Interest Loan

A loan where both interest and principal are repaid.

Power of attorney

The legal document that gives authorisation to another person (lawyer or attorney) that will act on clients’ behalf. The power of attorney can grant complete authority, or else can be limited to certain acts for certain periods of time.

Private mortgage insurance

It is an insurance that is provided by a private mortgage insurance company and will protect the lenders against loss if a borrower defaults.

Purchase agreement

The written contract signed both by the buyer and seller, which contains the terms and conditions under which a property is to be sold/purchased.

R- Rental Return

The annual rental income as a percentage of the value of the property - yield.

Real estate agent

Is a licensed agent that has the power to negotiate and transact a sale of a property.

Realtor

A property agent, broker or an associate who has active membership in a local real estate board affiliated with the NA of Realtors.

S- Second mortgage

A mortgage that has a lien position subordinate to the first mortgage.

Stamp duty

A state government charge during buying property.

Self-Managed Superannuation Fund

A type of trust that exists with the sole purpose of funding the beneficiaries’ retirement.

Subordinate financing

Any mortgage that has a priority that is lower than the first loan.

T- third-party origination

A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market.

Trustee

An involving trust – fiduciary, that has control on the property for the benefit of another.

V- Vacancy Rate

the entire number of available investment properties as a percentage of the total number of investment properties in a certain area.

Variable Rate Loan

a credit in which the interest rate varies.

Vendor

Is the person who owns a property.

Consulting a Buyers agent Sydney before purchasing a property is one of the best choices you will make. This way you will have the chance to be guided through the process by a professional agent and choose smart!

Here is the halfway of the list from A-Z of terms used in the Buyers agent Sydney glossary