The Hula Real Estate Glossary

Hula Property
The Hula Real Estate Glossary

Down below are a list of common terms in the Thai property market between buyers, sellers, and agents.


Agent - A certified real estate agent that can purchase and sell property on behalf of their clients. An agent should be employed by a globally recognize brand; to ensure trustworthiness.

Amortization - Amortization is when you schedule your mortgage payments spread out over time. In the property market, a buyer’s amortization schedule is a monthly payment over a time period between 15-40 years.

Appraisal - An appraisal is an estimation of how much your home is worth. When buying a home, the lender requires an appraisal by a third party to make the loan amount accurate. Advancements in information technology have made home appraisal a very quick process for buyers and sellers.

AVM (Automated Valuation Model) - Information technology software to find the estimated market value of your home.


Broker - A real estate agent who has the necessary licenses in their state to represent clients and run a firm. Brokers get comprehensive training and obtain licensing to manage individual agents through a firm or work on their own.


Contingency - A requirement that must be satisfied before a real estate deal can be signed.

Closing - The procedure for completing a real estate deal. This includes finalizing mortgage agreements, paying any necessary transaction fees, and signing documents to complete the transaction.

Commission - Commission in real estate is around 6-8% of the property’s sale price. The commission is mainly split between the buyer’s and seller’s agent and paid to the seller during the closing process of the transaction.


Debt-to-income ratio - A figure that assists lenders in estimating the risk involved in extending credit to a borrower. It is calculated by dividing the sum of monthly debt payments by monthly gross income.

Down payment - The sum of money a buyer is required to pay upfront for a real estate deal. It is typically expressed as a negligible portion of the total cost of the property. The majority of mortgage lenders will want a down payment as security.


Equity - A figure calculated by taking the market value of a property and subtracting, if any, the outstanding mortgage balance.


Fixed-rate mortgage - A home mortgage with a fixed interest rate over the period of the loan.


Homeowner’s Insurance - When you have purchased a home, it is important to purchase homeowner insurance to cover any damages for your property. Damages may include natural disaster, theft, furniture, and more.


Interest - The sum of money a mortgage lender receives in return for a loan. It is expressed in percentage form.


Listings - A property listing on the website such as Hula, that is up for sale or rent.


Mortgage - A long-term loan provided by a bank to fund a real estate purchase. The asset is used as security in exchange for the borrowed funds.


Net-operating income - A factor that establishes how much profit a piece of commercial real estate produces.


Principal - Principle is the amount of money owed on the loan. As you make your monthly payment to your home mortgage, the monthly principal goes down. It depends on the amount of interest you pay over your home mortgage.

Purchase Agreement - The Purchase Agreement demonstrates that the buyer wants to buy the property and the seller wants to sell the property. In the purchase agreement document, it outlines the terms and conditions of a sale and holds both parties accountable to meet the purchase agreement.


Realtor - A trade group for real estate experts. A specialized real estate broker.

Refinancing - The process of changing an existing mortgage loan with one with new terms and conditions. The new loan's interest rate should be improved.


Secured loan - A secured loan is supported by the borrower’s asset such as a car, furniture, second home, or any item for value to the borrower, as secured loans are used if the borrower is unable to pay back the loan.


Title - A home’s title represents you are the rightful owner of the property. The rights transferred from the seller to buyer during the sales transaction.


Hula Property is the easiest way to find, buy and sell property. Find the right estate agent, contact a real estate agent, get a price estimator, compare properties & more! No matter if you're looking for a new home or want to invest in rental property, Hula Property will find the perfect solution for you. Whether it's a condo or a home - we have it all! We can even help you find your next dream home! For first-time buyers or sellers in real estate understand the various terms can be a daunting task.

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