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1. www.reca.ca › consumers › tools-resourcesGlossary - RECA

   www.reca.ca › consumers › tools-resources

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   Appraisal Process. A systematic analysis of the factors that bear upon the value of real estate. It consists of an orderly process by which the problem is defined, the work necessary to solve the problem is planned, and the data involved are acquired, classified, analyzed, and interpreted into an estimate of value.

   • Conditional Offer

     Real Estate Act Bylaws; RECA > Consumers > Buying a Home....

   • Conditional Sale

     As a real estate professional, it’s important to discuss...

   • Consumer Tips

     The Real Estate Industry. Real Estate 101; Why work with a...

   • Council

     The Real Estate Industry. Real Estate 101; Why work with a...

   • Getting Licensed

     The industries that RECA regulates include: real estate...

   • Pre-Licensing Education

     If you are hoping to become a real estate, mortgage,...

   • Senior Leadership

     Much of the enforcement of licensee standards of practice is...

   • Consumer Protection Fund

     You do not require a judgement from the Courts when making a...

2. theclose.com › real-estate-terms136 Real Estate Terms and Definitions You Need to Know

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   Nov 13, 2023 · You can explain to them that a commission is the amount charged by the real estate agents who lead the transaction. It is almost always paid by the seller. Generally 6% of the purchase price of the property, commissions are usually split between the buyer and seller agents and then between the agents and their brokers.

3. realtyinstitute.net › docs › GLOSSARY_OF_REAL_ESTATEGLOSSARY OF REAL ESTATE TERMS - Realty Institute

   realtyinstitute.net › docs › GLOSSARY_OF_REAL_ESTATE

   the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth therein. Air Rights - Rights in real property to use the space above the surface of the land. Alienation - A transferring of property to another; the transfer of property and possession of lands, or other things, from one person to ...

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4. glossary.guide › Glossary-of-Real-Estate-TermsGlossary of Real Estate Terms

   glossary.guide › Glossary-of-Real-Estate-Terms

   Below-grade: Any facility or part of a facility located underground or below the surface grade. Breach of Warranty: The failure of the seller of real property to pass title as either expressed or implied by law in the conveyancing document. Buffer: A strip of land. a transition established as between distinct land uses.

5. www.mikestewart.ca › real-estate-terms-canadaReal Estate Terms Canada & Real Estate Terminology Canada

   www.mikestewart.ca › real-estate-terms-canada

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   Property Transfer Tax (PTT) A provincial tax applied to property transactions in certain regions, including British Columbia. BC PTT is 1% on the first $200,000, 2% between $200,000 and $2,000,000, 3% on the amount of the fair market value above $2,000,000, and 5% on the fair market value above $3,000,000.

6. www.zolo.ca › blog › glossaryCanada Real Estate Glossary & Terms | Zolo

   www.zolo.ca › blog › glossary

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   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. Zolo.ca, the Zolo Web App, and the Zolo App are operated under license from Questrade, Inc. Zolo Ventures Ltd., its subsidiaries, and Questrade, Inc ...

7. People also ask

   What is a rent-up period?

   • Rent-Up Period: The period of time following construction of a new building when tenants are actively sought and the project is approaching stabilized occupancy. Right Of First Refusal: See “First Refusal. RPA: Real Property Administrator.

   Glossary of Real Estate Terms

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   What does lease mean in real estate?

   • The terms have come to mean the most technical and all-inclusive description of real estate. Lease: An agreement whereby the owner of real property (i.e., landlord) gives the right of possession to another (i.e., tenant) for a specified period of time (i.e., term) and for a specified consideration (i.e., rent).

   Glossary of Real Estate Terms

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   What does rent mean in real estate?

   • Rent: Consideration paid for the occupancy and use of real property. A general term covering any consideration (not only money). The date on which a tenant begins paying rent. Depending upon the nature of the marketplace, it may coincide with the lease commencement date or it may be several months after.

   Glossary of Real Estate Terms

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   What does Piti stand for in real estate?

   • The vacant but leased space may or may not be formally marketed on a sublet basis or counted among a market’s vacancy. PITI (Principal, Interest, Taxes And Insurance): Acronym used to indicate what is included in a monthly mortgage payment on real property.

   Glossary of Real Estate Terms

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   What is a landlord in real estate?

   • Landlord A person or company who leases rights of real estate use to a tenant. See also Lease Agreement and Tenant. Latent Defect A physical deficiency or construction fault in a property that is not visible or discoverable through a reasonable inspection.

   Glossary - RECA

   www.reca.ca/consumers/tools-resources/glossary/

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   What is a lease agreement?

   • Lease Agreement A written agreement between an owner (landlord) and a tenant under which the owner allows the tenant the right of exclusive use of the property for a specified time, rent and terms. See also Landlord and Tenant.

   Glossary - RECA

   www.reca.ca/consumers/tools-resources/glossary/

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8. bridgewellgroup.ca › real-estate-terms-canadaReal Estate Terms Canada - Coquitlam Real Estate Agents ...

   bridgewellgroup.ca › real-estate-terms-canada

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   Realtor or real estate agent: A person who acts as an intermediary between the seller and the buyer of a property. Reserve fund: Also knows as the Contingency Reserve Fund. A fund required to be set up by the condominium corporation for major repair and replacement of common elements and assets of a corporation.