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  1. Jun 15, 2021 · 40 Common Real Estate Abbreviations and Acronyms. Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.

  2. Jun 6, 2024 · Apartment. A unit within a residential building. It may be a dwelling that is in a building owned by one owner and the occupants rent from that one owner or it can be an individually owned unit that is part of strata condominium development. Typically when used in Canadian real estate apartment is not owned by its occupant and a condo is.

  3. Jan 14, 2019 · These costs include legal fees, land transfer fees and disbursements. They usually range from 1.5% to 4% of the purchase price. Closing or Completion Date: The date at which the sale of a property becomes final and the new owner takes possession of the home. CMHC: Canada Mortgage and Housing Corporation.

  4. Nov 13, 2023 · A Realtor is a real estate agent who is a dues-paying member of the National Association of Realtors. NAR members are held to a high standard of professionalism and adhere to a strict code of ethics. Refinance. If a borrower takes out a new loan on the same property, it’s called a refinance.

  5. Canadian Real Estate Glossary. 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. Use our comprehensive real estate glossary to explain important Canadian real estate terminology.

  6. Buying a house can be an exciting, but complex process. So when you embark on your journey, one of your first stops should be familiarizing yourself with the lingo. We’ve curated helpful information from our Homebuyers’ Road Map and Tips for Buyers, to share with you some of the most important terminology a new buyer.

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  8. Knowing the Canadian Real Estate Concepts. The understanding of the real estate terms specific to Canada is essential for home buyers, sellers and agents in order to navigate the market and make informed decisions. Being familiar with terms such as CMHC, ARV, LTV, Cap Rate, GDS, TDS, JT, TIC, CMA, APS, and others, can help you understand the ...

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