Estate Agent Jargon Explained
Jan 22nd, 2023
? Let’s face it, sometimes us Estate Agents will use some jargon or abbreviations that aren’t always obvious!
Here are some explained …
?? FTB = First time buyer
?? BTL = Buy to Let
?? OIRO = Offers in the region of
?? OIEO = Offers in excess of
?? Chain = A sequence of linked transactions which all need to progress in order for any of the individual transactions to succeed
?? EPC = Energy Performance Certificate - A report which rates the energy efficiency of a property
?? DIP = Decision in Principle - A document from the bank confirming how much they would allow you to borrow
?? SSTC = Sold subject to contract - the seller has accepted an offer on their property and it is currently going through the conveyancing process