Friday, August 30, 2013

Real Estate Terms and Meaning(O)

Kalpesh Shah
Kalpesh Shah 

Off The Plan
To purchase a property before it is completed after having only seen the plans.

Offer
Conveyed intent by one party to form a contract, which may have conditions and stipulations, with another party.

Offers
A process of calling for offers on the property, usually required by a certain date.

Offset Account
An account linked to a mortgage account so that the interest earned is applied to reduce the interest on the mortgage.

Ombudsman
The Banking Industry Ombudsman is the avenue through which a customer can make a complain about their bank and have it dealt with independently.

Ongoing Fee
A loan maintenance fee charged regularly over the life of the loan.

Open Space
Land which has not had improvements such as buildings and other structures added to it. Such land is often left in a subdivision by a developer or stipulated by a local authority for recreational use or for personal use by the owner.





Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
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