Summary of Essential Property Owner's Guide

Understanding Property Jargon and Terminology

In the world of real estate, it's crucial to be familiar with various terms and concepts to navigate buying, selling, or letting properties effectively. This guide aims to demystify common property jargon and terminology to empower sellers, buyers, and landlords in their transactions. From understanding terms like Acceptance and Agreement in Principle to grasping concepts like Annual Percentage Rate and Arrears, this guide covers essential information to help you make informed decisions.

(Source: Essential Property Owner's Guide, Page 1)

Key Points:

• Acceptance document confirms acceptance of a mortgage offer.
• APR represents the total cost of a loan annually.
• Arrears indicate overdue mortgage payments that could lead to property repossession.

150 things sellers, buyers, and landlords should know. - Flipbook by Fleepit