The world of estate agency can be full of mysterious and confusing jargon at times. The dictionary definition of it is below:Jargon: Special words and phrases which are used by particular groups of people, especially in their work and industry. Often not understood by 'outsiders.'I don't like jargon. I like to talk with my clients in a language they understand and appreciate.So I've come up with this jargon buster for the estate agency industry.Ben's Jargon BusterVendor – The person selling a place.The 'applicant' – The person buying the place.Sole agent – Not to be confused with soul agent which would refer to a fan of Luther Vandross and James Brown who sells and lets properties. Basically this means the only agency selling the place.Chain free – This should be an easier place to buy due to the lack of people, solicitors, agents, surveyors etc involved.Mortgage Offer – The lender's letter proving you have a loan for the money to buy the place.Conveyancing – The legal stuff that needs doing when you are buying a place.EPC (Energy Performance Certificate) – The piece of paper which shows how energy efficient (drafty or insulated) the place is.Subject to contract – You've agreed to buy the place, they've accepted your offer but everything is still in the lap of the gods until exchange of contracts (or if you are really unlucky completion) happens.Stamp duty – The Government tax which makes buying your place a lot more expensive especially if it's a second home in Cornwall or a buy to let in Burgess Hill.Exchange – When everything is legally agreed by everyone involved and you can swap contracts making buying the place a whole lot more likely. At this point you can have a drink.Completion – The moment the place becomes yours. Keys in your hand, kiss the agent, order a take away and have another, larger drink.I like to keep things clear, honest and friendly and that's why I avoid jargon like a lift full of very angry wasps!!!Thanks for reading,Ben, Exchange – When everything is legally agreed by everyone involved and you can swap contracts making buying the place a whole lot more likely. At this point you can have a drink.
Popular posts like this
How to prepare your home for a viewing
How to prepare your home in Forest Hill for a viewing
The viewing is where the magic happens, the time where potential buyers, who have bottled up their hopes and...
How to add value to your garden to help sell your home
How to add value to your garden to help sell your home in Forest Hill.
Summer is quickly approaching, and we long for those fine days where we can enjoy spending time...
How to cope with the stress of moving home
How to cope with the stressful stages of moving home in Forest Hill, SE23
You have so many emotions wrapped up in changing address:...
Problems that home staging can't solve
Problems that home staging can’t solve when selling your home in Forest Hill.
Home staging is a...
Share this with
Email
Facebook
Messenger
Twitter
Pinterest
LinkedIn
Copy this link