Home economics

10 questions you have to ask about

Do not buy or sell housing until you can understand these terms.

10 questions you have to ask about

The housing market has never been hotter than it is now.

At the moment prices are 6.8 per cent higher than the same month last year.

Highest price development had apartments.

Average square meter price in March was $ 29,400. When the financial crisis culminated just over three years ago, in December 2008, the square meter price was 21,000 kroner.

Do you know a little about the terms the brokers use you would be better placed in a housing business.

Bonytt. no has asked the department of the Norwegian Real Estate Association (NEF) to elaborate words and expressions that are often left in the prospects.

1. Residential area

The terms you will definitely meet in the prospect are the different area designations. Here it is important to be able to distinguish the area of ​​use, gross area and primary space, and which of these mainly govern the pricing.

Usage area is gross area minus area occupied by exterior walls, while gross area is usage area plus area occupied by exterior walls.

Primary space , however, is the usage area of ​​the primary part. That is, it is measured to the inside of the enclosing walls of the primary part.

The price statistics are controlled by primary rooms (p-spaces) . This term is the starting point for all price comparison . It is also the most central to most buyers.

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At the same time, perhaps, especially in relation to detached houses, large areas that do not fall within p-space, and which certainly have value. Then the usage and gross area will be more interesting.

2. Energy and Heating

All homes must be energy labeled. Energy labeling can be done by the seller himself over the Internet or by the taxpayer. When selling and renting housing, sellers have a duty to energize.

Energy label consists of an energy character and a heating character. The energy grade goes from A to G, and is based on calculated energy delivered. The heating character is given with a five-color color scheme from red to green, and ranks the housing or building according to which heating system is installed.

But there is no correlation between the energy character and the heating character, so that a building with high calculated energy consumption and associated poor energy characteristics can get a good heating character, for example with a biobased heating system. Conversely, a low-energy buildings have a good energy character, while heating character will be bad if the building only has electric heating.

3. Loans and valuables

Loan and value tag may not be so strange concepts.

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Loan credit is the part of the assumed market price of a real estate that the taxpayer considers as collateral for the buyer’s loan from the financial institution. Usually about 80 percent of market value. However, several financial institutions now make their own assessments based on the assumed market price, which in other words was more used in the past.

Value tag is carefully assumed market value.

4. Share and share

There are different forms of ownership. Selveier is a bit in the term, but the difference between share and equity is not always so obvious.

A share is a residential or holiday home linked to a housing company. Through own ownership in housing cooperatives, unit holders are entitled to housing, while the housing company is the owner of the property.

Share homes have a lot in common with the shareholding in housing companies, because the individual owns one or more shares in the limited company which gives the right to use housing while the company is the owner of the building. Boligaksjeselskap may by no means be established, cf. section 1-4 of the Housing Act (1).

However, there are house-takers established before the entry into force of the ban.

5. Condition Report and Rate

Daily rates are used for a simple assessment of the property and are sufficient to say something about the estimated market value.

A state report should be a report based on a technical review of a property and describes property and may point out deviations from normal state. It may contain information about the need for remedies up to the usual standard.

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However, there are sliding transitions from a full rate to a lean condition report in the market. The state reports are about to be taken over by the housing sales reports. One should be a known man to immediately see the difference between these products, but the home sales reports use standardized forms, and is the product that the broker wants to be used to an increasing extent.

6. Different fees

Municipal fees and document fees are mentioned frequently in the prospectuses.

The municipal fees usually include a sweeping fee, water and sewerage fee, and renovation.

Document fee is another type of fee. There is a 2.5 percent government fee paid by the buyer of real estate upon registration of the joint.

7. Revised Remedy List

What is included in the purchase in the home may be wondering. And for good reason, because according to the industry, it’s basically what you agree that are the debts.

Unless otherwise agreed, you are welcome to take a stand-alone list that the Real Estate Industry has prepared – and which is still revised. See the full list of NEF’s website.

8. Commitment and joint debt

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Common assets and joint liabilities are concepts related to unions, housing cooperatives and housing companies. When the joint venture, housing company or home equity company has wealth, it is often referred to as common wealth and the individual’s share of wealth as “share of common wealth”. Such common wealth is often used for maintenance of the building stock, and is saved through monthly joint expenses.

Fellesgjeld is the joint venture, the housing company or the mortgage company’s debt. Common debt is usually debt raised in connection with the construction and maintenance of the housing. The individual’s share of joint debt is called “share of common debt”. Interest and repayment of joint debts are served through monthly joint expenses.

9. Price and total price

Does the term price suggestion the seller is willing to sell for?

A price proposition is as the word suggests a hint of the price tag seller expects at the time the property is put up for sale. And a price suggestion should not deviate significantly from what the seller will sell for.

However, this does not imply any obligation. Seller is free to sell.

Why is there sometimes a difference between price and total cost?

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The total price should nevertheless appear in marketing and include the joint debt. Price estimate will then indicate what the buyer must actually pay for the property, minus the joint debt.

10. Area effective plan solution

Area-effective floor plan is popular expression among the brokers and often goes on in different housing prospects. A search for FINN within the category of housing for sale now shows that the name goes 316 times. In other words, it’s good reason to ask the industry itself to put the phrase.

According to Norges Eiendomsmeglerforbund there is no clear definition but believes that it should not be used unless the housing is divided so that it has a particularly good utilization of the area specified for the housing.

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