| Capital Gain |
The amount of profit made on the sale of an asset. Sale price minus purchase price. |
| Chattels |
Noted on the offer to purchase. These are the items that are moveable but are included when a property is sold eg curtains, light fittings. Stamp duty is not charged on these items. |
| Commission |
Fee paid by the vendor to a Real Estate Agent for successfully selling a property. |
| Common Area |
Areas that are designated on the title for common use, not individual use eg stairs. |
| Condominium |
Ownership of a single unit in a multiunit building or complex of buildings. Along with this goes a share of ownership of the common area. |
| Conjunctional Dealing |
Two real estate agents are involved in the transaction. Usually one has listed the property and the second has sold it. The agents split the vendor fee between them as they agree to. |
| Conveyance |
The legal process of transferring ownership of a property from one entity to another. |
| Contingency |
A condition that must be met for a contract or a commitment to remain binding. |
| Conventional Mortgage |
Any mortgage loan that is not insured by FHA, guaranteed by VA, or funded by a government authorised bond sale or grant. |
| Convey |
To transfer real estate from one person to another. |
| Credit Rating |
The assessment given to a prospective borrower after the completion of a credit investigation. |
