Real Estate Term And It's Meaning. (B)

Neeta Shah

http://aasharealtor.blogspot.com

Below is a list of some of the most commonly used terms relating to

 Real Estate and the property market.Browsing from A to Z will help 

you become more familiar with the meaning of these terms and give 

you a better knowledge of the Real Estate industry.

Today We shall see Terms on 

Alphabate 'B'

 Balloon Payment

A large loan payment to clear a debt.

Beneficiary

The person designated to receive the income from a trust, estate, or 

a deed of trust.

Bi-weekly payment mortgage

A mortgage that requires payments to reduce the debt every two 

weeks, (instead of the standard monthly payment schedule). The 26 

(or possibly 27) bi-weekly payments are each equal to one-half of the 

monthly payment that would be required if the loan were a standard 

30 year fixed-rate mortgage and they are usually drafted from the 

borrower’s bank account. The result for the borrower is a substantial 

savings in interest.

Body Corporate

An administrative body made up of all the owners within a group of 

units or apartments of a strata building. The owners elect a 

committee, which handles administration and upkeep of the site.

Bond

A sum of money paid by a tenant and held by the Tenancy Services to 

ensure against defaulting on payment and damage to the property.

Boundary

The lines that define the perimeter of a property.

Brick Veneer

A type of construction in which a structural timber frame is tied to a 

non-load bearing, single-brick external wall.

Bridging Loan

A short term loan (usually at a higher rate) taken out to cover the 

financial gap between buying a new property and selling an existing 

property.

Building Code

Local Council regulations that control design, construction and 

materials used in construction.

Business Day

A standard day for conducting business. 9.00am - 5.00pm. Excludes 

weekends and public holidays.

Buyers Market

When the demand for property is less than supply so the advantages

 shift to the buyer.

For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.