If you are just entering the world of real estate negotiations, some terms used in this market may seem confusing. But calm down! Execut is here to help you. Check with us a brief dictionary with the main real estate terms so you don't have any doubts:
- Registration of the property: is the legal update of any structural changes made or differences in the condition of its owners. Some changes that enter into this action are reforms that change the number of rooms, or the total area built on the land, changes in the marital status of the owners, change of name and other changes relevant to the documentation of the property.
- Amortization: refers to the reduction or anticipation of the time of financing the property.
- Capital: is the term used to name the sum total of assets of a person or company. It can also refer to the amount of money financed to someone.
- Deed: this is the name given to the public document that formalizes the contract for the purchase and sale of a property, thus declaring its ownership.
- Real estate financing: this is one of the ways to buy your property. It is a loan granted by financial institutions for these purposes.
- Lessor/Renter: the first term refers to the owner of a property who decides to rent his property. The second term is the name given to the tenant, that is, who rents the property.
- Power of attorney: it is a document, registered in a notary, which gives a third party the power to act on your behalf in certain situations, such as making decisions regarding ownership of the property.
- Sign: is synonymous with input. Refers to the amount that the buyer advances to the seller to commit to the business and assumes the function of the first installment, in case of purchase of the property.
- Market Value: the value assigned to your property by experts in the real estate market.
- Valuation: term used to refer to the process of increasing the market value of a property. This appreciation can occur for several reasons, from internal renovations to changes in the structure of the neighborhood in which the property is located.
If you need assistance to find the ideal property, or to better manage yours, contact Execut! With more than 33 years of experience in the real estate market in Pernambuco, we have a complete and specialized team to meet your needs. Contact us!
