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15 Real estate vocabulary you must know.

Are you new to the Real estate industry and often get caught up between the professional’s terminology? Don’t worry; we have simplified these terms for you. Here is a collection of 15 Real estate terms that you may encounter while dealing in the Business. If you seek an apartment for sale or any property listings, these words may come in handy.

1. Mortgage
The amount is taken as a loan to buy a house or a flat. The person’s property is the security to get the money.

2. Bridging Loan
It is a short-term loan taken to bridge the gap between selling your current house and buying a new one. As soon as the old property gets, a sold person can pay off the loan.

3. Deeds
The official paperwork certifies the ownership of the real estate.

4. Deposit
It is the lump sum amount that the buyer pays towards the cost of the property. The deposit ensures that the seller gets protection in case the buyer walks away from the deal.

5. Equity
Equity is the amount that the homeowner owns. It is the difference between the mortgage he owes and the value of the property.

6. First-time buyer
They are people who buy their house or apartment for the first time and therefore have no mortgage.

7. Collateral
It is the security against the loan. In the case of the mortgage, collateral is a house or flat.

8. Cash reserves
For closing a deal, the buyer needs to provide a down payment and the closing cost. After the expense of the two, the specific amount left is called the cash reserves.

9. Closing
Closing refers to the meeting where the deal is made final by the completion of the paperwork. The buyer and seller sign the paper, making the down payment and the closing cost.

10. Closing cost
The additional charges paid by the buyer cover various aspects like title insurance, taxes, and other related fees.

11. Contingencies
The term refers to the real estate purchase agreement clause specifying a requirement to bind the contract legally.

12. Escrow
It is an account that the lender sets up to receive monthly payments from the buyer.

13. Shared ownership
Shared ownership allows first-time buyers to purchase a share in the property. The buyer pays rent for the remaining share or can buy more later.

14. Pre-approval
Before purchasing a house, the buyer can get a pre-approval from the bank, estimating the bank’s lending amount. It determines how much the buyer can afford.

15. Listing
Listing is a property that falls under the category of ‘For Sale.’

Connect with Housal to get great deals on Condo for Sale, Apartment for sale, and other property listings. Make an intelligent choice.

Things to Know While Buying a Condo for Rent in Taguig

Published Date : May 17, 2018 Buying Tips Design Property Recommendations Real Estate 101

A growing number of people are looking for a condo for rent in Taguig because of the economic growth in the area. Some of them work or study there, and some of them simply want to enjoy the convenience of living in one of the busiest financial and commercial districts of Metro Manila, close to all the conveniences of an urban lifestyle. Buying a condo for rent in Taguig may be an excellent investment for you if you’re interested in diversifying into real estate because the demand is high—and it looks like this trend will go on for many decades. You probably won’t have a hard time finding tenants.

If you are ready to buy a condo for rent in Taguig, then here are some helpful tips to take note of:

The time to buy is now

According to a report by Colliers Philippines, there were about 38,800 residential units sold in Manila in 2016 through pre-selling. This number is 25% higher than the volume sold in 2015. There are also indications that these numbers will continue to rise in the coming years as the Philippines enjoys unprecedented economic growth and a boom in transport infrastructure. It is advisable to not wait until prices become too prohibitive.

Choose a strategic location

You have a lot of condo unit locations to choose from in Taguig. The farther the building is from the main business district, the cheaper it is going to be. If you cannot afford a posh unit in a high-end development in Bonifacio Global City, that’s fine—you can buy a unit in any of the mid-priced developments on its fringes. As long as your condo for rent in Taguig is a short drive or ride away from BGC and Makati, you should be able to attract a steady stream of tenants.

Look at the developer’s history and reputation

Because of the different social platforms available, you can easily look for a feedback from buyers of condo units from various developers. Be sure that the real estate developer that you are buying from can construct the building on schedule and provide after-sales support.

Consider buying a parking lot

Parking space can be very expensive in Taguig and it can be a very attractive selling point for your rental. And if your tenant doesn’t have a car, then you can rent out the slot to someone else. Buying a parking slot may mean spending more initially, but it also means increased earnings in the long run.

Investing in a condo for rent in Taguig profitably takes a lot of consideration and the right investment expertise. Device a strategy according to the investment market yourself or get consultation from specialists and find what works for you. Invest smartly for a bright future.

About the Author:

This article is written by Aakanksha Sangtani, working as an International Business Analyst at Housal Inc., an online platform for real estate, addresses the unfulfilled needs by harnessing technology and bringing all-related solutions under one roof. For buyers, tenants, sellers, brokers, agencies or developers, it encompasses all their answers from property matching, listings, management, analytics and much more. Housal Inc. is the evolution of the real estate process – empowering the real estate industry for the future.

Questions to Ask When Searching Condo For Rent in Taguig

Published Date : March 2, 2018 Property Recommendations

Many people want a condo for rent in Taguig to be close to work. Taguig is one of the busiest business districts in the Philippines, after all, and many offices, shopping centers, and world class hospitals are situated in the area. This is why many families choose to rent a condo in the area instead of renting homes or apartments farther away.

Looking for a condo can be quite daunting if you don’t know what to check and what to look for. It’s essential to equip yourself with the right questions to ask when searching for a condo for rent in Taguig.

Is the condo fully furnished?

When you rent a fully furnished condo, you can use all the furniture and appliances that come with the unit. This includes the television, oven, washing machine, air conditioning units, and the refrigerator—plus the sofa, bed, dining table, etc. Renting a fully furnished condo relieves you of the pain of buying new appliances. The downside is the cost. A furnished condo usually costs thousands more monthly than a bare condo unit.

What are the condo’s amenities?

The basic advantage of living in a condo is security and access to luxury amenities. Unlike apartments or home rentals, a condo has a security guard on-duty 24/7. You are protected against possible burglary and break-ins. Added features of living in a condo include the use of swimming pools, gyms, and running paths within the vicinity. Ask the owner if you as a renter can have access to all these amenities.

Do you have a contract?

To safeguard your rights as a tenant, you need to ask for a binding contract. Read through the whole agreement and ask as many questions as you can about the transaction. Know all about the penalties, benefits, and duration of the lease.

Do you allow pets?

Some condos for rent in Taguig do not allow animals in the unit. If you are bringing your pet, be sure to ask about applicable policies.

Renting a condo in Taguig that is near your workplace can help you save a lot of time and money for commute. Do not spend hours of your day stuck in Manila’s horrendous traffic. Instead, rent a condo in Taguig that allows you to reach your workplace in minutes.

About the Author:

This article is written by Aakanksha Sangtani, working as an International Business Analyst at Housal Inc., an online platform for real estate, addresses unfulfilled needs by harnessing technology and bringing all-related solutions under one roof. For buyers, tenants, sellers, brokers, agencies or developers, it encompasses all their answers from property matching, listings, management, analytics and much more. Housal Inc. is the evolution of the real estate process – empowering the real estate industry for the future.