Glossary

Ante
Before a buyer can bid or buy a property, they will need to provide a security deposit, which will hold their bid on that property or hold the property for buy. In a bid situation, if the buyer does not win that property, the amount will be refunded.  The security deposit will be placed with the buyers credit card via ePay.

Asking Price
This is the listed price the seller wishes to offer the property for sale.

Associate
When brokers or agents register to sell on Simsari.com, they may add additional site users based on their level of membership (See Membership Tiers). These additional users are referred to as Associates. Associates have their own login credentials, and can take full advantage of Simsari.com seller tools and features.

Auction
The sale of a property on Simsari.com in which the seller offers a property for sale to the buyer who pledges (bids) the highest amount before the offer ends.

Buy Now
A site function that allows a member to purchase a property immediately. Buy Now can be available for property listings or auctions, depending on the seller's listing information.

Current Bid
This is the most recent amount offered by a buyer or for a property at auction. In order to win the property, a buyer will need to have the highest current bid at the end of the auction. Members who do not have the highest current bid may try to outbid (go over the current bid) in order to win the property.

Development
A group of properties built by a developer within a particular location. Developments can be further divided into projects or other property groupings.

Favorites
A list of properties that a buyer wishes to track before they purchase or bid on them. The properties are added to this list when the buyer selects the Add to Favorites link for that specific property. The Favorites can be reviewed in the Your Properties section.

Feedback
A property that is available for ownership by an expatriate living in Dubai. Properties that are not available for freehold ownership can be purchased and owned only by residents of the UAE.

Maximum Bid
This is the highest incremental amount that a buyer may offer for a particular property.

Price per square foot
The asking price for the listing divided by the total square feet measurement of the property.

Ratings
A buyer or seller rating consists of the amount of positive, negative and neutral feedback received from property transactions. A high rating means that a user is considered to be a competent and trustworthy user of Simsari.com services. See Feedback.

Reserve Price
This is the lowest price that a seller will accept for a specific property. This price is preset by the seller before the property is listed at Simsari.com. If the reserve price is not met, the property will not be sold.

Saved Searches
When a user completes a property search, they may choose to add (save) that search to their Your Properties account to review at a later time. A user may have multiple saved searches.