Glossary · GB
Guide Price
An indication of the price a seller is seeking or expects to achieve for a property. It is not necessarily the final agreed sale price.
Belgrave in London
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Around this term
Related terms.
Asking Price
The price at which a property is initially offered for sale by the seller. The final transaction price may be higher or lower.
Market Value
An estimate of the price a property could reasonably achieve in an open market between a willing buyer and willing seller, assuming appropriate marketing and normal transaction conditions.
Property Valuation
A professional assessment of a property's value based on factors such as location, size, condition, comparable transactions, income and prevailing market conditions.
Additional Property Surcharge
An additional SDLT charge that can apply when an individual purchases an additional residential property, subject to the applicable rules and exemptions.
Adverse Possession
The legal process by which someone who has openly occupied land they do not own for a qualifying period may apply to become its registered owner. Colloquially 'squatter's rights'.
Amortisation
The gradual repayment of a loan's capital over its term through scheduled instalments, steadily reducing the outstanding balance.
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