Sealed Bids

If there are two or more interested parties in the purchase of a property then the offer will often be decided via Sealed Bids. This means that the purchase prices offers are made by each party in a sealed manner i.e. provided via sealed envelope. When all bids are...

Searches

Refers to the determining of whether there are any unwanted/adverse effects in relation to a particular property. Should cover things that are already in place and things that are being planned.

Seasoning

Refers to the pay history on a loan. A loan that is ?seasoned? will have at least six months of pay history. Non-seasoned loans are more risky than seasoned loans because they lack a pay history.

Section 8 Notice

Notice to tenant to quit due to them being more than 8 weeks in arrears with the rent. Beware that if the tenant reduced the arrears of rent to less than 8 weeks even if that is the day before an eviction Court hearing the notice is no longer...