Property Glossary

Below, is a comprehensive list of Real Estate terms, which will be updated regularly. Readers are encouraged to become familiar with the terminologies used in context of Real Estate Transactions.

A legal document conveying title to a property.

Failure to make payments on time or comply with other requirements of the agreement.

A letter sent to the buyer by a builder requesting due payment. Also, a letter sent to the borrower by lender requesting an overdue payment.

A sum of money given to bind the sale of Real Estate or a sum of money given to ensure payment or an advance of funds in the processing of a loan. Deposit could also be the deposit paid to a property owner as part of a rental transaction.

A company that initiates and oversees the development of a property. The main activities carried out by a developer include land acquisition, procurement of relevant approvals, fund raising, design, construction and marketing of the project.

The part of the purchase price of a property that the buyer pays in cash and does not finance with a loan.