Don't friends who are ready to buy a house in Australia or like to work in the real estate industry get confused with the technical terms in the words of intermediaries, lenders and lawyers?
When searching and buying a house on the Internet, is it a bit dizzy to look at a few English proper nouns?
Never mind! Now we have carefully selected and sorted out the English vocabulary of Australian real estate terminology for you, quickly collect it and compare it to look it up!
Appraisal (Assessment)
A report assessing the price of a property. Assessment reports are prepared by Australian real estate salespeople and brokers and are usually free of charge. However, unlike valuation (Valuation), evaluation reports cannot be used as supporting documents.
A-REIT (Australian Real Estate Investment Trust)
Full name is "Australian Real Estate Investment Trust", officially known as listed real estate trust (Listed Property Trusts). Australian real estate investment trusts are mainly used to buy homes, and are generally used to buy commercial property and manage the property in the name of investors.
Capital Growth (Capital appreciation)
Real estate increases in value over time.
Capital Gains Tax or CGT (tax on capital gains)
The amount of tax to be paid for the sale of a house. Taxes vary based on the difference between the initial purchase price and the sale price, including purchase and sales costs.
Capital Gains Tax Discount (Capital gains tax concession)
A 50 percent discount on capital gains tax is granted on the condition that the owner owns the property for more than 12 months and is subject to other specific conditions.
Cooling-Off Period (cooling period)
In the Australian real estate market, prospective buyers are usually given consideration of the timing of the purchase, often depending on the state and region. However, there is no cooling-off period to buy a house at auction.
Consideration (contract price or amount)
The price or amount paid to the seller by the buyer to acquire ownership of the house.
Certificate of Title (property certificate)
The real estate certificate should show the location of the real estate, the current ownership status, easement, mortgage claims or third party claims on the property and other information about the location of the property, current ownership status, easement, mortgage claims or third party claims on the real estate. The original property certificate is kept by the government real estate office, and the copy is kept by the owner or mortgage creditor. Every time the property changes hands, information about the new owner will be recorded on the property certificate.
Depreciation Schedule (depreciation rules)
List of items in investment-type properties that can be depreciated or reimbursed for tax concessions, such as carpets, hot water systems and air conditioners.
Deposit (advance / deposit)
Clients sign contracts based on lawyers' comments and pay 10% of their home payment over five working days to how many weeks as a deposit, and these 10% of the advance payments can also be remitted to a trust account of an Australian real estate lawyer. Wait for the final settlement. Any deposits on your Australian property will not be remitted to the agent / exhibitor's account during the construction period.
Equity (net asset value)
The difference between positive and negative assets, in other words, represents the proportion of assets that belong to you and those belonging to the lender.
Easement (easement)
It is someone else who, for extraordinary reasons, has the right to use your property, or a portion of your own property may be restricted to use. For example, a neighbor does not have his own revenue and expenditure channels, then he has the right to use your land to pay for his real estate.
Fixed Rate Loan (fixed rate loan)
Interest is maintained at a fixed level of loans for a period of one to fifteen years.
Gearing (lever ratio)
A term for borrowing money to buy an investment in a real estate.
Interest-only loan (Interest-Only Loan)
Interest-only loans will not be repaid until the end of the loan period.
Line of Credit Loan (line of credit)
Loans similar to credit cards can be withdrawn if necessary, and the minimum interest rate is usually paid on a regular basis.
Lender's Mortgage Insurance or LMI (Real Estate lender Insurance)
In the Australian real estate market, when the loan exceeds 80 percent of the value of the property, the buyer has to pay extra fees, such as a default by the lender, and insurance guarantees the buyer.
Low-Doc Loans (non-income certified loan)
The applicant can apply for a loan only by submitting the minimum required documents. The applicant is usually a self-employed person with a higher interest rate than a loan which normally requires proof of income.
Loan-to-Value-Ratio or LVR (loan value ratio)
The ratio of loan to property value.
Median Price (median House Price)
Statistical data for calculating the trend of house prices. To arrange house prices from small to large, select the middle number, is not the average.
Mortgage (mortgage)
A loan secured by a property.
Negative Gearing (negative withholding tax)
The interest on the loan returned is higher than the return on the investment.
Neutral Gearing (natural lever)
The interest on the loan returned is the same as the return on the investment.
Off The Plan ()
Purchase of unfinished homes, usually high-rise apartment developers to provide the way to purchase.
Positive Cash Flow (forward Cash flow)
Housing income (including tax concessions) exceeds expenditure (including interest, tax, maintenance, etc.).
Positive Gearing (positive lever)
Investment income is higher than interest on loans returned. The difference between "positive leverage" and "positive cash flow" (or "negative tax deduction" versus "negative cash flow") is that the former includes all income and expenditure, while the latter refers only to the comparison of rental income and interest.
Principal and Interest Loan (principal and interest loan)
A loan repaid at the same time as principal and interest.
Rental Return/Rental Yield/Yield (Rent return)
Annual rental income as a percentage of property value.
Risk (risk)
The potential for real estate to lose money.
Self-Managed Superannuation Fund or SMSF (self-managed retirement fund)
A fund set up specifically to support retirees.
Stamp Duty (stamp duty)
A state tax on home purchase.
Strata Title (sub-contractual property rights)
Most of the units, apartments and townhouses have public space and therefore have sub-contractual property rights. All homes have independent property rights, but some parts such as water mains, sewers, lanes, staircases and gardens are owned by all owners.
Subdivision (land breakdown)
Divide the land into small parts.
Vacancy Rate (vacancy rate)
The proportion of vacant properties in the investment property of the whole district.
Valuation (valuation)
The real value of Australian real estate, based on recent sales in the same area, is serviced by a qualified Valuer. When you borrow, divorce, or deal with the estate, you usually need to carry out a real estate valuation. Valuation reports can be presented to the court as evidence.
Variable Rate Loan (variable rate loan)
A loan with floating interest.
Vendor (seller)
The owner of the property.
Yield (return)
Income as a percentage of the value of the property.
