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  1. This is commonly known as a conditional offer and includes factors that must be met in order for the sale to be successful such as financing terms, appliances and fixtures, inspections and the physical condition of the house. Generally, the seller has between 24 and 48 hours to accept, reject or counter-offer.

  2. 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.

    • (64)
    • 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.
  3. Common Realty Terms Explained. AMORTIZATION. The period of time required to reduce the mortgage debt to zero when all regular blended payments are made on time and provided the terms (payment and interest rate) remain the same. ANNIVERSARY. Most lenders allow borrowers to make a payment on the anniversary mortgage.

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    • How to Use This Glossary of Real Estate Terms and Abbreviations
    • Glossary of Real Estate Terms and Abbreviations
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    Mac users: hold command + F to search for a real estate term Windows users: hold control + F to search for a real estate term

    Absentee landlord:An owner or sub-lessor who does not reside in the place or area in which he/she owns real estate from which he/she derives rental income. Abstract of auction:A summary of the auction advertisements which appears in the property page of a newspaper. Abstract of title:A chronological summary of conveyances, mortgage or leases and ot...

  4. Nov 13, 2023 · Even if you know every one of the 136 real estate terms on this list and how to use them, your clients expect you to be their interpreter. This comprehensive list of real estate definitions will help you ensure you’re communicating with clients effectively.

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  6. 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.

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