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- A buyer whose purchase agreement includes a contingency that allows the seller to continue to market the home to other prospective buyers. For instance, a buyer may agree to buy the home only if they can sell their own home first. That buyer can be bumped if a better offer comes along.
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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.
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.
While there’s a lot more lingo in the real estate dictionary, hopefully you now have a better understanding before taking plunge into one of the biggest single purchases you’ll ever make. These resources available on REALTOR.ca may also help you along your journey to homeownership: Tips for Buyers. Find a Home.
Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations as the Market Standard for their respective regions.
Estate - The degree, quantity, nature and extent of interest which a person has in real property. Estate in Reversion - The residue of an estate left for the grantor, to commence in possession after the termination of some particular estate granted by the grantor.
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Jan 3, 2023 · Here’s the ultimate glossary of real estate terms and abbreviations updated in 2023 from the Real Estate Institute of Australia (REIA), Property Council of Australia, Australian Property Institute, realestate.com.au and more.
Here’s a handy list of real estate terms and definitions for any one and every one, to improve your real estate purchasing experience and make sure you feel comfortable and confident with the big step you’re about to take.
