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Home › Glossary of Real Estate Terms
Buying or selling a property comes with a lot of jargon, and it can be hard to keep up with what everyone is talking about. This glossary is designed to translate real estate language into clear, simple explanations so you can feel more confident at every step of your property journey. Whether you are signing a contract, speaking with an agent or reviewing your loan documents, you can quickly look up any term you are unsure about.
Each definition focuses on what the term actually means in plain English, why it matters to you as a homeowner, buyer, seller or investor, and how it shows up in real life. Where it is helpful, we also include practical examples so you can see how the term would apply in a real transaction in Australia.
If you are comparing agents, negotiating an offer or getting ready to list your property, this glossary can help you ask better questions and avoid costly misunderstandings. And when you are ready to move from researching to taking action, you can use our agent comparison tool to find trusted local agents who understand both the market and your goals.
The agent commission rate is the percentage of your property’s sale price paid to your agent, which directly reduces or boosts the amount you walk away with at settlement.
An appraisal is an agent’s estimate of your property’s current market value, helping you set realistic price expectations.
Capital Gains Tax (CGT) is tax you may pay on the profit from selling an investment property, which can significantly reduce your net sale proceeds.
The cooling off period exists to protect buyers by giving them time to finalise finance, complete inspections or simply reconsider their decision. It applies to most private treaty sales in Australia but usually does not apply to auctions, where the sale becomes unconditional immediately. Each state has different rules about how long the cooling off period lasts and what financial…
Property information disclosure is a legal and ethical requirement that ensures buyers receive accurate details about a property before making a purchase decision. This may include structural defects, past repairs, nearby developments, zoning restrictions or compliance issues. Disclosure rules differ between Australian states, but the purpose is always the same which is to protect both parties by promoting transparency. Sellers…
A property valuation provides an objective, evidence based estimate of what a property is worth at a specific point in time. Unlike an agent appraisal, which reflects market demand and selling strategy, a valuation follows strict professional guidelines and is often required by banks for lending purposes. Valuers inspect the property in detail, compare recent sales, analyse land attributes, improvements,…
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