Terms with Category Real Estate
- Rental Agreement (RA) — Acronym, Important,
- A document that states the terms and conditions for tenancy of a dwelling.
- Rental Property (RP) — Acronym, Important,
- Property that is occupied by rent-paying tenants and not the owner.
- Replacement Reserve Fund — Definition,
- Money that is set aside by a homeowners association or condominium board to replace common property, such as playground equipment.
- Resale Value — Definition,
- The sales price that would be negotiated by a willing seller and buyer for an existing home or property.
- Reserve Fund — Definition,
- Money that a homeowners or condominium association sets aside for major repairs and capital improvements.
- Right of First Refusal — Definition,
- An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.
- Roll In — Definition,
- To include certain closing costs, such as origination and settlement fees, in the mortgage.
- Sale Price — Definition,
- The price that is paid for an asset.
- Sale-leaseback — Definition,
- A transaction in which the seller transfers the title to the buyer, then rents the property from the new owner. Generally not done in Canada, more an American practice.
- Sales Contract — Definition,
- A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
- Sales Tax — Definition,
- Federal and / or provincial taxes that are applied to purchases.
- Schematic Designs — Definition,
- Structural plans for a building's mechanical systems, such as its plumbing and electrical functions.
- Second Home — Definition,
- An additionally purchased property, often a vacation or a rental property.
- Second Home Mortgage — Definition, Important,
- A mortgage used purchase property, often a vacation or a rental property.
- Security — Definition,
- Property designated as collateral.
- A document stating ownership of a stock or bond.
- A tradable financial implement that represents ownership, the rights to ownership or debt.
- Self-Build Insurance — Definition,
- Insurance that covers a homeowner for problems involved in a construction project.
- Seller Broker — Definition,
- One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.
- Seller's Market — Definition,
- Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
- Semi-custom Home — Definition,
- A house in which the buyer cannot alter the layout, but can specify amenities such as type of cabinets and floor coverings.
- Single-Family Detached Home — Definition,
- A house that one family lives in and is not attached to another house (like a duplex).
- Speculation Builder — Definition,
- A developer that builds houses without a commitment from a purchaser.
- Speculation Home — Definition,
- A house built before a buyer has been found, on the assumption that one will be found.
- Square Footage — Definition,
- The area within a building, calculated by measuring the rooms by length and width.
- Starter Home — Definition,
- A dwelling that is relatively small and inexpensive and bought as a first home.
- Statute of Frauds (SOF) — Acronym,
- A law which provides that certain contracts must be in writing to be enforceable at law. This includes real estate contracts.
- Step Down Lease — Definition,
- A lease providing for decreases in rental payment at specified dates.
- Step Up Lease — Definition,
- A lease providing for increases in rental payment at specified dates.
- Study — Definition,
- A room used for reading or work
- Subagent — Definition,
- A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.
- Subcontractor — Definition,
- A person or company that does specialty work for a general contractor.
12.
Rental Agreement -
Second Home Mortgage
Second Home Mortgage
