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Deeds
Legal title documents proving ownership. The deeds will
be held by the mortgage lender. Deposit
A sum of money (usually 10%) paid by the buyer on exchange
of contracts. Detached
Term used to describe a property that stands alone and
is separated from all others. Development
A newly built residence or an older property which has
been refurbished and modernised. Dilapidations
Any disrepair or damage to a rented property.
Disbursements
Fees paid by the buyer's solicitor on the buyer’s behalf
such as stamp duty, land registry and search fees.
Discharge
Paying off a mortgage. Draft Contract
Preliminary, unconfirmed version of the contract. |
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