Australian Real Estate contains the terms, definitions and descriptions of real estate and financial terms that are commonly used in real estate industry.
Buying, selling or renting property in Australia and having trouble understanding what they’re saying? To help you figure it out, we’ve created brief explanations of the words used. For more complete information, see your local real estate agent, financial advisor or solicitor.
A B C DE F GH IJK L MN O PQ R S T UVWXYZ
|– G –|
|garnishee||To legally divert part or whole of someone’s money or property to someone else such as for Child Support Payments.|
|gazumping||Where a seller agrees to sell to one buyer but then either sells to another buyer or raises the price when two or more buyers show interest.|
|gearing||The ratio of your own money and borrowed funds for investment.|
|gross income||Income before taxes are deducted.|
|guarantor||A person who agrees to be responsible for the payment of another party’s debts in case of their default.|
|— H —|
|holding deposit||An initial sum of money given to register interest and goodwill or bind the sale of real estate before the full deposit is paid.|
line of credit
|A mortgage loan which allows the borrower to obtain multiple advances of the loan proceeds up to a specified percentage of the borrower’s equity in a property.|
|A loan made to a homeowner in which the home is used as collateral for the loan.|
|home inspection||A thorough inspection that evaluates the structural and mechanical condition of a property. A home inspection can be made a condition of purchase.|