Real Estate Glossary E [Part 5]

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Continued from…

:point_right: Real Estate Glossary E [Part 4]

Edwardian residence

Style of building that was popular from 1901 to 1916. The style is characterised by buildings that are solid, small, and made of common red bricks. The floors have strong horizontal lines, and the cornice and parapets are plastered and painted in flat planes. Verandahs were taken down and walls were moved up to make parapets, which showed how bare the building was. No kind of cast iron was used.

Effective date

The start or end date of something. The date it was made.

Environment impact study

An investigation that tries to figure out how a proposed land use will affect the environment in the long run.

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Estate agent

One who works on behalf of clients to negotiate the sale, purchase, or lease of land and buildings, set up mortgages, and give advice on market values and other property issues.

Evaluation

To figure out or set the value; to guess.

Exclusive agency agreement

A contract that says that only one agent can sell the property.

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Existing mortgage

A loan of money that is backed by a property that has a registered mortgage on it. Most of the time, the mortgage is paid off when a property is sold or given away in some other way. In some cases, the new owner may take over the mortgage.

Extension of lease

A contract that extends or renews a lease for a period of time after it has run out.