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Like-kind exchange
- This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. The catch is that they must sell one property and buy a similar one within a set time frame.
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Jun 15, 2021 · The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
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Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
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- Note: Letters of the alphabet without a relevant term are not listed.
- Adjustable-rate mortgage (ARM): A mortgage loan with an interest rate that can change throughout the loan’s lifetime.
- Agent: A real estate professional that is legally licensed to buy and sell property on behalf of their clients. An agent cannot operate independently, they must work under a licensed broker.
- Amortization: The process of gradually reducing mortgage loan debt over time by establishing scheduled monthly payments. The interest payment of an amortized loan will decrease as time goes on, while the principal payment will increase.
When taking out a mortgage, home buyers grant the bank a lien on the property. This gives the bank the right to seize your property in the event you don’t repay your mortgage. Types of mortgages: Fixed-rate mortgage: Your interest rate is locked in for a specified period called a term.
Jun 6, 2024 · The following is a comprehensive list of real estate terms commonly used in Canada and their definitions to help you better navigate a real estate transaction in British Columbia or across Canada. Please do reach out and let us know if any of the housing terms in this glossary are confusing or if you think we should add any terms.
Use our Canadian real estate glossary to understand real estate terminology and jargon. Find definitions for key real estate terms, real-life examples, synonyms, and expert perspectives on terms.
Sep 12, 2023 · Mastering real estate terminology and understanding the nuances of real estate terminology in Canada are critical steps for anyone buying, selling, or investing in property.
