Monday, September 2, 2013

Real Estate Terms & it's meaning (Q & R)

Aasha Realtors Neeta Shah
Aasha Realtors  Neeta Shah

Qualified Buyer

A buyer who has satisfied a lender that he or she is financially able to qualify 

for a loan. Qualifying the buyer is one of the primary steps taken by the 

lender as part of the loan process.


Part of the framework of the roof, the rafters slope down from the ridge to the eaves.

Real Estate Agent

A person or Company licensed to negotiate and transact the sale or lease of 

real estate on behalf of the property owner.


The process of paying off one loan with the proceeds from a new loan using 

the same property as security.

Requisitions on Title

A process where the buyer requests additional information about the title of 

the property from the vendor.

Reserve Price

The minimum price which a seller will accept at auction.

Resource Consents

Resource consents are necessary when a group or individual wishes to carry 

out an activity or development that may have some effect on the 

environment. Resource consents relate directly to the rules set out in the 

District or Regional Plans and the Resource Management Act and are 

different to Building Consents.

Right of First Refusal

A provision in an agreement that gives a party the first opportunity to 

purchase or lease the property before it is offered for sale or lease to others.

Right of Survivorship

In, the right of the survivors to acquire the interest of a deceased joint estate.

Right of Way

A right of one property or the general public for access to or across another 


Rise and Fall clause

This clause may be contained in a building contract. It provides for an 

upward or downward contract price which correlates to the movement of 

prices, wages or other factors specified in the clause.

Roof Pitch

The slope of the roof.

Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 
Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai – 400103, India