Private Sale Glossary
- apartment
property typically found in buildings of more than two storeys - buyers agent
a person who is authorised to act on behalf of the buyer in the sale of a property. The agent may find the property on behalf of the buyer, negotiate with the vendor or bid on behalf of the buyer at auction - conveyance
the transfer of property from the seller to the buyer - FSBO
Acronym For Sale By Owner (private sale) - freestanding house
a house with no common walls which stands independently from other properties - private sale
the vendor deals directly with the buyer and does not engage a real estate agent to sell the property - private treaty sale
sale of property through a real estate agent by private negotiation and contract - real estate
land including all the natural resources and permanent buildings on it - real estate agent
a person who is authorised to act on behalf of the vendor in the sale of a property - semi detached
two houses joined together with common walls - terrace
one row of houses joined together with common walls - town house
modern version of a Victorian terrace a two story house usually with common walls on either side - unit
property typically found in buildings of less than two storeys - vendor
the seller of property - villa
single storey property with common walls