Interpretating and understanding real estate agents talk

This is where there will be more than one offer being presented to the vendor at the same time. It is in the buyers interest to give their agent there very best offer in a multiple offer situation as they may not get a second chance.
Another point to consider when faced with a multiple offer situation is to eliminate as many clauses as possible and make your agreement unconditional which gives your offer more strength in the eyes of the seller.

Cash Offer
This is the very best and strongest offer you can give a vendor. It means there are no clauses/conditions and if accepted by the vendor then you have purchased the property and must complete the sale.

This is an offer presented to the vendor with one or more clauses included.

Where a property is for sale by Auction then your offer must be unconditional with no clauses.

It is usual practice to pay a deposit of 10% of the purchase price once your agreement becomes unconditional.
This money is held in the Real estate companies Trust Account for 10 days before being released to the vendors solicitor.

GV.
This refers to the Government Valuation. The Government Valuation (GV) can often be half the actual purchase price. The GV is a rating guide, the lower the GV the lower the rates.

LV.
This stands for Land Valuation. All properties have a Land Valuation and a value of improvements which combined make up the actual GV.