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Mar 20, 2023 · When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. Keep this guide handy — you'll be fluent in the language of home buying before you know it.
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. Explore.
Understanding the real estate terminology Canada uses is crucial for anyone involved in the real estate market in Canada, whether you’re a first-time homebuyer, a seasoned investor, or a professional in the industry.
Nov 13, 2023 · This comprehensive list of real estate definitions will help you ensure you’re communicating with clients effectively. After all, great communication leads to closed deals. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money.
Jan 3, 2023 · Auctioneer: One who is licensed to sell, or offer for sale, real estate where persons become purchasers by competition, being the highest bidders. Basis point: One percent (1%) is the equivalent of 100 basis points. Bi: Built-in. Bics: Built-in cupboards. Bid: A verbal or written offer to purchase. BIR: Built-in wardrobes. BOB: Beginning of ...
Sep 12, 2023 · By familiarizing yourself with these common real estate terms, you’ll be better equipped to make informed decisions and a wise investment. Canadian real estate news published weekly. Top housing market & mortgage trends, condo sales numbers & more.
Under offer – When an offer on a property has been accepted and the vendor and buyers are in the settlement stage of the transaction. Under the hammer – This means a property is going to be sold during the auction process, rather than passing in and selling afterwards.
