Real estate is a dynamic and a vibrant industry. We can all agree
with the fact that not only do the professionals working within the bounds of the industry should have knowledge of some of the fundamental real estate terms, but every individual in general should be well aware and equipped. This is because at some point in our lives we all come across these terms because let’s face it- real estate is an inevitable prospect!
Hence, Hallmark brings to you a handy set of 5 important terminologies that are regularly used in the real estate industry. So, if you are a prospective buyer, an intuitive investor or a real estate enthusiast, this is the exact blog you have been waiting for.
1. MLS (Multiple Listing Services):
MLS is the short for Multiple Listing Services which is an online
database that includes information of various properties that are up for sale.
The complete information of every property on sale is provided on the MLS
websites, which makes the job of a buyer way simpler.
2. Dual Agency:
When one agent represents both the buyer’s side and the seller’s side in a particular real estate transaction, it is called as dual agency.
3. Capitalisation Rate:
Capitalisation Rate or cap rate is a metric that is used in the
evaluation of potential returns over a period of time of a real estate
property. This metric is majorly used to evaluate investment properties.
4. Closing Costs:
The closing costs are borne by a buyer at the time of closing a
real estate transaction. These costs include fees charged by the attorneys,
insurance companies, real estate agents, taxing authorities, and other external settlement costs.
4. Down Payment:
Down Payment is a small percentage of the total price of the
property that is paid by a buyer upfront as a part of the real estate
transaction. Mostly, mortgage lenders demand a down payment as a collateral.
Well, that was your today’s daily fix of real estate information.We at Hallmark Builders have built our brand for over 13 years, the foundation of which is trustworthiness, creativity and assured quality. Our projects across Hyderabad like Hallmark Treasor, Hallmark Sunnyside and Hallmark Skyrena are the very testament of the trust that our customers invest in us. Our projects reflect modern design technology and sustainable development practices, which is the need of the hour. Just like our state-of-art projects, we also believe in spreading quality knowledge on real estate to our extended family here, via our blogs. If you are interested to know more information about our residential projects or anything related to real estate, reach out to us via our website www.hallmarkbuilders.in or contact us and our team will guide you further.