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Real Estate Jargons on your Fingertips: Bayana / Breach of Contract / Broker/Dealer

When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.

But we give you a solution!!

Read this space every Tuesday & Wednesday for Real Estate Jargons.

Bayana
An Indian term used to denote the token money given to the landlord to informally freeze negotiations on a particular property, after the initial terms and conditions have been formalised.

Breach of Contract
An act or omission, contrary to enforce specific performance to rescind the contract and / or to claim damages, the remedy available depending upon the nature of the breach.

Broker/Dealer
A person or company who acts as a medium of bringing owners and proposed buyers together with a view to complete a real estate transaction.

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