Ghana Real Estate Dictionary Vol. 16

real estate terminologies

Jumia House Ghana continues from last week’s post of our serial Real Estate Dictionary.

Assignee

This is termed as an individual whom a property has been transferred to. In property transactions, documents are usually exchanged to entrench the verbal agreement reached between the two parties.

Assignor

The assignor is that individual who transfers the rights of the property to the beneficiary. In essence, this is the landlord.

Associate

An associate is an individual contracted to work for a broker.

Blind advertisement

This is a kind of advertisement that excludes the name of a broker.

Commercial property

Commercial properties are the kind that yield income. When an appraiser is valuing a commercial property, that individual is mostly concerned with the price of similar properties.

Commission split

This is the previously agree upon division of money between a broker and a sales associate when the broker has been paid commission from a sale made by the sale associate.

Cooperative

This is a property owned by a corporation, with residents of the property assuming shares in that corporation.

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