|
B |
| BAD |
Bank Accounts Debit Tax. State or Territory government tax (except ACT) on withdrawals from accounts on which a cheque can be drawn. |
| balloon payment |
A large loan payment to clear a debt. |
| body corporate |
An administrative body made up of all the owners within a group of units or apartments of a strata building. They form a self-elected committee or council for the management and upkeep of the buildings and common areas. |
| bond |
A sum of money paid by a tenant and held by the Rental Bond Board to ensure against defaulting on payment and damage to the property. |
| boundary |
The lines that define the perimeter of a property. |
| break costs |
The penalties charged when a loan is paid off before the end of its term. |
| brickveneer |
A type of construction that has a structural timber frame tied to a non-load bearing, single-brick external wall. |
| bridging loan |
A short term loan that covers the financial gap between buying a new property and selling the old property. |
| building code |
Local regulations that control design, construction, and materials used in construction. |
| building inspections |
An inspection generally carried out prior to the purchase of a property to ensure the building is structurally sound. |
| building loan |
Also called a construction loan. A short-term, interim loan paid to registered builders for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses. |
| building regulations |
The standards formulated by local councils to control the quality of buildings under its jurisdiction. |
| business day |
A standard day for conducting business. Excludes weekends and public holidays. |
| buyer's market |
When the demand for property is less than supply so the advantages shift to the buyer. |
