Real Estate Dictionary

Click a term to read that definition.

Or, if you prefer, you can search my site for definitions and articles:

A

abatement
accelerated payments
adjustment
agency
agent
Agreement of Purchase and Sale
amendment
amortization
annuity
asking price
assumable mortgage
attached house → see town house

B

blended interest rate
blended mortgage
blended payment
breach of contract
broker
broker of record
building permit → see permit
buydown
Buyer Representation Agreement

C

charge → see mortgage
chattel
closed mortgage
closing date
common elements
completion date → see closing date
condition
condition precedent
condition subsequent
condo → see condominium
condominium
Confirmation of Co-operation and Representation
conflict of interest
consumer report → see credit report
conventional mortgage
convertible mortgage
counter-offer
covenant
credit rating → see credit report
credit report

D

debt service ratio
deed → see transfer
default
deposit
detached
discharge
discharge
disclosure

E

easement
encroachment
encumbrance
equity
equity loan → see conventional mortgage

F

fiduciary duty
FINTRAC
fixed rate
fixture
floating rate → see variable rate
fractional ownership
freehold

H

high-ratio mortgage
holding tank
home staging

I

interest adjustment date
irrevocability

L

land transfer tax
lending value
lien
Listing Agreement
listing price → see asking price
loan term

M

market value
mortgage
mortgage broker
mortgage loan
mortgagee
mortgagor

N

notice of fulfilment

O

offer to sell
open house
open mortgage

P

permit
personal property → see chattel
PIPEDA
portability → see portable mortgage
portable mortgage
POS → see power of sale
posted rate
power of sale
pre-approved mortgage
preferred rate
prepayment privilege
prime rate
principal

Q

quad → see quadruplex
quadruplex

R

real property → see fixture
Realtor
renege
rental items
requisition date
reverse mortgage
right to use
row house → see town house

S

sales-to-listings ratio
second mortgage
security
Sellers Property Information Statement
semi-detached
septic system
septic tank → see septic system
showing
SPIS → see Sellers Property Information Statement
spousal consent
status certificate
subdivision agreement
survey

T

term
timeshare
title insurance
title search
total debt service ratio
town house
townhouse → see town house
transfer

U

UFFI
upgrade
Urea-Formaldehyde Foam Insulation → see UFFI

V

variable rate
vendor take-back

W

WETT
Wood Energy Transfer Technology → see WETT

If you'd like more information, or if you have a question that's not covered here, please ask me — I'll be happy to help.

peter@peterbottcher.ca — Office: 905-793-9233 — Cell: 416-629-8548

Home to Home Realty Inc., Brokerage — 23 Epsom Downs Drive, Brampton, ON L6T 1Y7
Ph: 905-793-9233 — Fax: 905-799-6164
Not intended to solicit those already under contract with a brokerage

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