An agreement in principle is an agreement between two parties on the terms of a future contract.

An authentic act is a contract drawn up by a public officer, generally a notary, and can also be called a notarial act. As soon as it is signed, it has an important legal value and allows to frame several operations.

The right to build is an easement granted to a person allowing him or her to build a property on land that does not belong to him/her. He or she can also buy an existing property on this same land. In both cases, the lessor receives an amount for making his/her land available. In a few words, the leaseholder is the owner of a property on land that does not belong to him/her.

Condominium ownership is a widespread form of co-ownership in Switzerland. In a condominium, several purchasers own different parts of the same building and each has an exclusive right to certain parts of the building.

A draft deed is a draft of the sales contract drawn up by a notary. It is therefore not the final deed of sale, as changes may be made.

In real estate, a deposit is a sum of money paid by the buyer to the seller, which constitutes a partial payment of the total amount due.

A direct sale is the simplest and fastest way to sell. It is possible when the buyer and the seller agree on an immediate sale date.

The External Surface concerns all the external parts of the dwelling and is not closed on all sides such as balconies, loggias or terraces.

Equity is the personal contribution you have to finance the purchase of a property.

An easement is an encumbrance imposed on a property for the benefit of one or more other property(ies) which forces the owner to accept certain constraints (parking of vehicles, water pipe, right of way, etc.) but can also prohibit certain acts (new construction, etc.). In the real estate sector, we speak of land easements which can be contractual or legal. Each easement must be the subject of an authenticated deed and a deposit in the land register.

A forward sale is a form of sale that takes effect at the end of the term defined between the seller, the buyer and the notary. It allows the different parties to have more time to organize a move or to end a lease for example.

The gross living area is made up of the net living area, the interior construction area, as well as the exterior and common walls, which are weighted at 50% of their total value.

The gross sales area includes in its calculation, almost all surfaces of a dwelling.

A hedonic property valuation is the estimation of the property value based on the analysis of comparable properties that have recently been sold. This method is usually carried out using specialised software.

The Interior Building Area is the area used by the building elements.

The living area corresponds to the total of the surfaces that can be fitted out inside the dwelling.

The land register is a state administration that gathers all the information related to real estate. It contains all the rights and charges attached to a property (easements, pledges, etc.). Any modification, deletion or constitution must be reported to the land register. The cantons generally have several land registers organized by district or by arrondissement. They can be kept on paper or by computer.

A mortgage is a loan that a financial institution gives to a buyer to purchase a property.

According to the Swiss Code of Obligations, a mortgage note is "a personal claim secured by a pledge of real estate".

The net sales area is used in the cantons of Fribourg, Vaud and Neuchâtel for the sale of a property.

The net living area is the sum of the areas of the various rooms in the property that are liveable.

The Official Gazette is a document published regularly by all the cantons.

Property gains tax is a contribution due when a profit is made when selling a property. In other words, if the sale price is higher than the purchase price and investment costs, then the amount of the gain is taxed.

Property is defined by law as "any area of land with sufficiently defined boundaries".

The right of pre-emption grants a preferential right of purchase which may be in favour of a natural person or a legal entity. In this case, the person having obtained this right of pre-emption will be able to acquire the property on which the right applies in priority if the owner decides to sell it. This right must be recorded in the land register and cannot exceed 25 years.

The right of purchase gives a person the right to acquire a property for a defined period. It must be authenticated before a notary and cannot exceed 10 years to be valid.

The transfer tax is a cantonal tax, levied by the cantons or their communes when a property is transferred between two people.

Unfinished secondary floor space is defined as non-liveable areas that are enjoyed by the owner or tenant.