"resale property" is a grammatically correct and usable phrase in written English.
You may use it when you are referring to a property, such as a house, that is being sold again after it was previously owned or used by someone else. For example: "After months of searching, we finally found a great resale property in a great neighborhood."
During his off hours, he takes clients, many of them personal friends, on daylong odysseys to look at available resale property, mostly condominiums in Midtown and Buckhead.
According to the Norges Eiendomsmeglerforbund, the country's real estate agents' association, estimated prices per square meter in February for both new and resale property averaged 36,200 kroner per square meter ($560 a square foot).
"On buying the property you may have to pay the equivalent of VAT (if it is a newly built property), stamp duty (if it is a resale property) or some other form of sales tax," says Paul Dimambro, the head of Hargreaves Lansdown Currency Service.
Consider whether to new-build or buy a resale property.
If you are after a city abode then a resale property is likely to work well – simply because all of the good plots were snapped up years ago.
Local banks are poised to start offering euro mortgages to foreign buyers for purchasing off-plan and resale property, so that will help free up another section of the market, but may cause prices to rise on its own.
"The market for resale properties still has to recover," he said.
According to him, stamp duty and transfer taxes constitute about 5 percent of the purchase price of most resale properties.
There is also Real Estate Transfer Tax (RETT) on resale properties, which is 3 per cent of the value of the property and is payable by the buyer.
But the Internet has changed a lot of that, enabling prospective buyers to search thousands of resale properties from individual owners and licensed real estate agents.
Resale properties should have the title included in the sale, and those that don't should be avoided or scrutinized by a lawyer, said Ms. Morphis, whose agency has the villa listing.
