Ever been sat across from an estate agent who won't stop using estate agency jargon? Or you're reading a property advert and keep seeing the words 'great potential' but not sure what they mean by it?
Say no more.
In this video, Ricky and Ian take a deeper look at what the following words mean:
- Lots of Potential: Essentially, it means a property needs a lot of work, potentially costing you money.
- Close to Commuter Links: While it sounds good, it could mean you're close to noisy motorways or train lines.
- Low Maintenance Garden: Typically implies a garden paved with concrete.
- OIEO (Offers in Excess Of): Often used to lower expectations, but rarely results in offers above the listed price.
- Cash from Sale: Doesn't mean cash in hand; it refers to buyers who needs to sell their own property first.
- Space for Fridge and Gas Cooker Point: Indicates there's room for appliances, but they aren't included.
- Wood Effect: Simply put, it's not real wood; it's plastic.
- Viewings Recommended: Often used when there's little interest to appease sellers.
- Realistically Priced: Likely means the agent initially mispriced the property.
- Tenant in Situ: Indicates a property is already rented, which could be a bonus for investors but tricky for buyers.
- Part Furnished: Usually means the landlord is leaving behind unwanted items, not necessarily beneficial for the next tenant.
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