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Belgrave Estates

Glossary

The terms.

A curated dictionary across UK, GCC and US prime real-estate convention. Plain-English definitions, jurisdiction-tagged where it matters.

25 terms

A–Z.

A

  • ABSD

    Singapore

    Additional Buyer's Stamp Duty — Singapore's tiered surcharge on residential purchases, scaled by buyer profile and number of properties owned.

  • Absent landlord

    A non-resident owner of let property, often subject to non-resident-landlord withholding regimes.

  • Agency fee

    The brokerage commission, typically a percentage of the achieved price (sales) or annual rent (lettings).

  • As-is

    A sale on the property's current condition without seller-side remediation. Common in estate sales.

B

  • Beneficial owner

    The natural person who ultimately owns or controls a property, regardless of legal title.

C

  • Cooling-off period

    A short statutory window after exchange during which the buyer may withdraw, sometimes with a forfeit.

D

  • DLD

    UAE

    Dubai Land Department — the regulator that registers all UAE Dubai-emirate property transfers and licenses brokers via RERA.

E

  • EPC

    UK

    Energy Performance Certificate — UK statutory rating from A (best) to G (worst), valid 10 years.

  • Escrow

    A neutral third-party-held account into which deposits and balances are paid pending contractual milestones.

  • Exclusivity period

    A pre-exchange window during which the seller cannot solicit other offers; sometimes paired with an exclusivity fee.

F

  • Freehold

    Outright ownership of the land and any buildings on it, in perpetuity.

G

  • Guide price

    An indicative range published to invite offers; not binding on the seller.

K

  • KYC

    Know Your Customer — the identity + source-of-funds verification required before brokerages may transact.

L

  • Leasehold

    Ownership of a property for a finite term granted by a freeholder, typically with a ground rent.

M

  • Mortgage in principle

    A lender's indicative confirmation of how much they would lend; not a binding offer.

N

  • NOI

    Net Operating Income — gross rental income less operating expenses; the numerator in a property cap-rate calculation.

O

  • Off-market

    A property offered to a curated audience without public advertising. Synonymous with "whisper" mandate.

  • Off-plan

    A purchase of a unit not yet built — typically with staged payments tied to construction milestones.

R

  • Reservation fee

    A non-refundable amount paid to remove a unit from sale during exclusivity; sometimes credited at completion.

S

  • SDLT

    UK

    Stamp Duty Land Tax — the UK tiered tax on residential property purchases, with surcharges for additional dwellings and non-residents.

  • Service charge

    The annual contribution leaseholders or condo owners pay toward common-area maintenance, security, and amenities.

  • Sole mandate

    An agreement giving one brokerage exclusive rights to market a property for a defined period.

  • Subject to contract

    A non-binding qualifier indicating that an offer or acceptance is conditional on a formal signed contract.

T

  • Transfer fee

    UAE

    A government fee on property transfers — 4% of value in the UAE Dubai emirate, typically split conventionally between buyer and seller.

W

  • Whisper mandate

    A property offered confidentially to a hand-picked audience; never publicly advertised.

FAQ

Frequently asked questions

What is the Belgrave Estates glossary?

It is a curated dictionary of prime and super-prime real-estate terminology across UK, GCC and US conventions. Definitions are written in plain English and tagged by jurisdiction where the meaning differs by market.

What is the difference between freehold and leasehold?

Freehold is outright ownership of the land and any buildings on it in perpetuity, while leasehold is ownership for a finite term granted by a freeholder, usually with a ground rent. The distinction is central to UK prime ownership and affects value and saleability.

What does off-market or whisper mandate mean?

An off-market or whisper mandate is a property offered confidentially to a hand-picked audience without public advertising. It suits sellers who prioritise discretion, and access is gated to qualified buyers.

What taxes and fees apply when buying prime property?

Common charges include SDLT in the UK, transfer and DLD fees in Dubai, and ABSD in Singapore, each scaled by buyer profile and property. Our glossary explains these terms so buyers can anticipate the true cost of a purchase.

What is escrow in a property transaction?

Escrow is a neutral third-party-held account into which deposits and balances are paid, released only when contractual milestones are met. It is especially important in off-plan purchases where payments follow construction stages.

How can I suggest a term for the glossary?

You can email [email protected] and we review suggestions in the next monthly update. The dictionary grows as buyers encounter new jargon across our markets.

Related

Continue exploring

  • Sole-mandate, single-side

    No dual-agency on any transaction. Conflicts disclosed in writing.

  • Discretion by default

    Off-market sourcing, alias representation, NDA-ready.

  • Audit-ready paper trail

    Mandate, briefs, memos and closing dossier — written, signed, archived.

Ready when you are

A term we missed?

Email [email protected] — we add suggestions in the next monthly review.