HOT TOPIC choice to design and build your own house if you buy a readily available bungalow lot .
BUYER ’ S MARKET This happens when a majority of people are wanting to sell their properties but the number of buyers is relatively low .
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CAPITAL APPRECIATION or GAIN Capital appreciation is the increase in property value due to market conditions or supply and demand , etc .
CAPITAL GAIN Capital gain is the positive gain made from the sale of a capital asset .
CAVEAT A legal notice that prevents the re-selling , re-charge , or any other act by any other interest or potential buyers .
CERTIFICATE OF FITNESS ( CF ) CF is a certificate that allows you to move in after a property has been inspected for safety for human occupation .
COMMERCIAL PROPERTY Properties such as malls , offices , etc ., that are mainly used for business purposes .
COMMISSION Remuneration of a REA or REN for service rendered .
CONDOMINIUM Condominiums or condos , usually have extra facilities than apartments like a swimming pool , gym , clubhouse , CCTV , sauna , etc . They are owned jointly by unit owners and are subject to the rules and regulations of the condominium .
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DEED OF ASSIGNMENT A legal document initiated to assign title , rights , and interest where the title is not yet issued to the property .
DEFAULT Monthly instalments or interest payments that are due or that has not been paid .
DEFECTS LIABILITY PERIOD Is a set period of time that a contractor must return to a site after construction project has been duly completed to do repairs .
DEPOSIT A sum to be paid as an assurance that upon vacating the premises , the tenant will not breach the conditions of tenancy and will leave the property in a state of good repair and order .
DETACHED The same as a bungalow , detached is a term used to describe a property that stands alone .
DEVELOPMENT A newly built or older property which has been refurbished and modernised .
DEVELOPER A person or company that arranges for new buildings to be built , and buys , sells and improves buildings and land . You buy new developments directly from developers upon viewing the plan or show units .
DISBURSEMENT FEES Various types of fees that were incurred by banks and lawyers such as the registration of charge fee , land search fee , bankruptcy search fee in relation to the financing loan . The borrower pays the fees .
DISPOSABLE INCOME The amount of money that ’ s left after all expenses , including taxes , have been paid for .
DOCUMENTATION FEE This fee is to pay for the preparation of agreements , forms and other documents that are connected to the loan .
DOWN PAYMENT This is the first payment you make when you buy a property and is usually 10 % of the cost .
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EXIT STRATEGY A planned approach to terminating a situation in a way that will minimise damage or maximise benefit .
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FIRST RIGHT OF REFUSAL A contractual right that requires the owner of a property to give a person the opportunity to buy or rent the said property according to specified terms before offering it to someone else
FIXTURES & FITTINGS Non-structural items included in the property , such as lights , furniture , kitchen units , built-in cabinets , etc .
FINANCIAL INSTITUTIONS All commercial banks and finance companies licensed under BAFIA 1989 and Islamic banks licensed under the Islamic Banking Act 1983 .
FREEHOLD It means any estate that is “ free from hold ”. There is no time limit and the freehold land stays with the title holder until it is transferred to someone else . However , only environmental and town planning controllers limit freehold developments .
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