Commercial, Residential, Rental Properties in India
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Real Estate Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

B Terms :
BAD
Bank Accounts Debit Tax. State or Territory government tax (except ACT) on withdrawals from accounts on which a cheque can be drawn.
Balloon Mortgage
A mortgage loan that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid.
Balloon Payment
A large loan payment to clear a debt.
Bankruptcy
A federal law Whereby a person's assets are turned over to a trustee and used to pay off outstanding debts; this usually occurs when someone owes more than they have the ability to repay.
Base Rent
A set amount used as a minimum rent in a lease with provisions for increasing the rent over the term of the lease.
Beneficiary
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.
Blanket Mortgage
A mortgage loan that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid.
Blockbusting
The attempt to induce someone to sell their home because someone from a protected class is rumored to be moving into the neighborhood. The classic example of this would be a real estate agent passing out her card to neighbors while telling them that a minority family is moving in down the block and they should sell now before the neighborhood gets any worse. This is illegal.
Body Corporate
A sum of money paid by a tenant and held by the Rental Bond Boaard to ensure against defaulting on payment and damage to the property.
Bond
A certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal.
Bond Market
Usually refers to the daily buying and selling of thirty year treasury bonds.
Boot
Money or property given to make up any difference in value or equity between two properties in an exchange.
Boundary
A line separating adjoining properties.
Brick Veneer
A system of building in which a structural timber frame is tied to a 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.
Broker
A broker is anyone who acts as an agent, bringing two parties together for any type of transaction and earns a fee for doing so.
Build Out
The space improvements put in place per the tenant's specifications. Takes into consideration the amount of Tenant Finish Allowance provided for in the lease agreement.
Building Code
Based on agreed upon safety standards within a specific area, a building code is a regulation that determines the design, construction, and materials used in building.
Bullet Loan
Any short-term, generally five to seven years, financing option that requires a balloon payment at the end of the term and anticipates that the loan will be refinanced in order to meet the balloon payment obligation.
Business Day
A standard day for conducting business. Excludes weekends and public holidays.

Buyer's Market

When the demand for property is less than supply so the advantages shift to the buyer. Contrast with Seller's Market.


 


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