If you buy a house in Australia, you will certainly get dizzy about the terms of the contract for buying and selling a house. Although there are usually lawyers who will help you with contract details, it is never better for others to understand.
1、Vendor
The seller, that is, the owner.
2、Purchaser
Buyer, if you buy a house, you're Purchaser..
3、Consideration
Contract price or amount (price or amount paid by buyer purchaser to seller vendor in order to acquire ownership of the house.)
4、Deposit
Deposit (buyer's payment, handed over to a lawyer-run foundation, typically 10% of the contract price)
5、Developer
Developers, there are a lot of building problems need to find developers.
6、off-the-plan
Flooring, refers to the sale of unfinished commercial housing to the market.
7、Easement
Easement is that other people have the right to use your property for special reasons, or some of your own property may be restricted. If a neighbor does not have his own access, then he or she has the right to use your land to and from his property, or the behavior in his own property will be limited: new buildings or other facilities in his own compound, for example, Do not prevent neighbors from getting light or affecting their sight, etc.
8、Mortgage
Usually your mortgage, that is, a mortgage or a third party's claim on a property (such as a bank or a lending institution)
9、Settlement Date
The date of delivery of the property, which is important, refers to the date on which ownership of the property was transferred from the seller's Vendor to the buyer's Purchaser. This date is mainly to determine the start date for new property owners to start paying various fees, such as Council Rate (municipal administration fees and Land Tax (land tax.
10、Default
Failure to perform. In law, the non-performance of the Default of the parties will make them bear certain legal consequences.
11、Encumbrance
A lien refers to all obstacles or obstacles to your use or transfer, such as Easement easements, Mortgage mortgages, Lease leases, etc. When buying a property, be sure to find out if the property has a Encumbrance lien.
12、Fixtures
A solid is something that can't be taken away unless it destroys the property, which is associated with the immobilization of the property. Solids generally include embedded dishwashers, cabinets connected to rooms, and so on.
13、Certificate of Title
Real estate certificate, real estate certificate mainly shows the location of the property, the current ownership situation and the volume / number of the property certificate and other information. Real estate certificates also record easements such as easement (restrictions on the right to use property,), mortgage claims or third-party claims on the property). The original certificate is kept by the government's real estate office, The Land Titles office, and copies are kept by the owner or mortgage creditor, mortgagee, such as a bank. Every time the property changes hands, information about the new owner will be recorded on the property certificate.
