Every industry or profession has its own jargon or language which becomes very familiar to the people who use it daily. We often forget that people outside that profession aren't familiar with the jargon. With this in mind, we thought it might be helpful to our clients to include a link to a jargon dictionary for real estate. If there' a word or expression you'd like to know the meaning of, click here and you should find it in the jargon dictionary.
During the cooling-off period the buyer has the opportunity to arrange pest and building inspections, discuss the contract with their solicitor or conveyancer or make any other arrangements or enquiries regarding their intended purchase.
The alternative approach is to reach an agreement with the seller on price and terms then make finance and inspection enquiries before signing the contract. During this time, the purchaser is fully exposed to being gazumped or even to the seller changing their mind about selling the property.
In short, there is no sure way of buying a property without an element of risk. We believe the lesser risk is to not expose yourself to the risk of losing the property. If you've had an appraisal on your property recently or you're in the process of looking to buy and you have a question about the process or about the expressions you've heard along the way, feel free to click on the link below and send an enquiry to our concierge.