Terms Glossary of Housing Terms Real Estate Terms Glossary of Housing Terms Adjustments - Amount of property taxes, council and water rates prepaid by the vendor and adjusted at settlement for amounts for which the purchaser will be liable. Amortisation period - Time taken to reduce the value of the debt through payment of regular instalments until the loan has been paid off in full. For ANZ Home Loans the maximum amortisation period is 25 years. An estimate of the value of property offered as security for a home loan. The appraisal is undertaken for financial lending purposes and may not reflect the actual market value.
Net assets are assets in excess of liabilities.
Liquid assets are assets either in the form of cash or readily convertible into cash. Awning window - A window with sashes that open out horizontally. Body Corporate - A strata corporation incorporated in relation to land subdivided wholly or mainly for residential purposes under a law providing for strata, cluster, precent or other subdivision of land or whose issued shares give a right to occupy land for residential purposes. The Body Corporate usually has the responsibility for the management and upkeep of common areas of the property. Bridging finance - Short term finance used when buying and selling houses to cover the gap between receipt of funds from sale of existing house and the payment of funds to purchase another house.