Hi guys just a quick question I’ve found my first property I think. Just have a few questions about some of the terms.
What does freehold mean? and please dont give me this definition
FREEHOLD – The highest form of estate in land, and the nearest the law allows a real property owner to approach complete ownership. A freehold estate is one which is of unlimited duration, that is to say, it cannot be said of an estate of freehold at the time of its creation when it will come to an end.
because Ive read this a few times and I got no idea what it really means.
Also when they list the prive they have put + SAV. Once again me being pretty clueless got no idea.
Have had a look on the Real Estate Institute of Australia defintions website with no joy. Any how any help you could give me reguarding these 2 things would be great.This isn’t is a property, it’s a business man![wha]
Well it’s the business and the building it’s in (the freehold) and the stock that goes with it (SAV= Stock as valued). You’d be buying a business, the building it’s in and all the stock that goes with it!
thanks g7,that explains a lot! have to have a chat with real estate agent. Need to do some more homework on this little puppy.
Cheers
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