ZION CEBU REAL ESTATE

GLOSSARY OF REAL ESTATE JARGON: N

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Like any industry, real estate has its own jargon. Some of the terms are peculiar to the Philippines. And a lot of the words may be already familiar to you, but will have a slightly different meaning or emphasis when used by real estate professionals.
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NEGOTIABLE Capable of being negotiated; Assigned or transferable in the ordinary couse of business.

NET LEASE When the tenant pays certain operating and maintenance expenses in addition to rent. When the tenant pays all expenses in addition to rent.

NET LISTING A listing which provides that the agent may retain as compensation for his services all sums received over and above a net price to the owner.

NOTE A signed written instrument acknowledging a debt and promising payment.

NOTICE TO QUIT A notice to a tenant to vacate rented property.