TRUST Real Estate Dictionary

Real Estate Vocabulary made simple

Real Estate Dictionary

Rental Cap Law (“Mietendeckel”), right of first refusal, conservation area regulations, annuity, special contribution, market value etc. - you might hear all those terms while investing in real estate. You do not need to know all terms that are used by real estate pros but knowing some might be crucial for your investment. We are shedding light on numerous terms used in the real estate industry in our real estate dictionary.

We are happy to discuss more complex topics regarding the real estate industry in a personal appointment. TRUST-AGN Holding is your trustworthy partner when it comes to real estate, because our know-how defines your success!

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Offer

An item or service which is offered for purchase, usage or something similar. An offer is a declaration of intent which becomes complete upon receipt by the other party.

Operating costs

"Operating costs are ongoing costs such as cleaning, gardening, heating and maintenance that are incurred in addition to the basic rent (""cold rent"") through ownership or through the use of the building, land, outbuildings and all plant and equipment."

Obligation to inspect

In the context of a real estate sale from an entrepreneur to a consumer, the consumer is protected from rushing into the transaction in accordance with § 7 Paragraph 2a BeurkG, in that the notary must observe a period of two weeks between receipt of the draft contract and the notarization. During this time the buyer can examine all interests to the real estate purchase, which the notary does not examine like e.g. financing and economy of the real estate, as well as their intrinsic value, tax load, technology etc.. Since this period represents a duty of the notary, this duty is only waived in strict exceptions, if the protection against haste is guaranteed in another way and for comprehensible reasons.

Oil heating

An oil heater is a heater that generates heat by burning fuel oil.

Off-peak periods and peak load

In contrast to off-peak periods, peak load refers to a short-term high demand for power in the supply network (e.g. electricity).