Real Estate Lingo
A one-story house, cottage, or cabin. It may be with a basement or without, crawl space and/or just basic wood or concrete footing.
High-rise, Low-rise, Stacked Townhomes and Townhomes
A large property complex that is divided into individual units and is known as a Condominim Corporation. The Corporation is run by elected Board of Directors who control and make decisons on behalf of the Corporation in compliance with the Provincial Condo Act. A Property Management firm is contracted by the Corporation to administer the decisions of the Board in the management of the condo complex.
Linda is the Founder, President CEO of the Condo Owners Association (also known as COA) www.COAontario.com a non-profit Association to represent and provide leadership to Condominium Owners with a united voice advocating and fostering quality lifestyle, prosperous and sustainable Condo Ownership.
Closing of the Transaction
The final procedure in a home sale in which documents are signed and recorded. This is the time when the ownership of the property is transferred.
A document which is outlines all of the costs relating to closing your real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. This document is prepared by your Real Estate Lawyer and is commonly known as a “settlement sheet” and includes all disbursements and fees.
Commercial Real Estate
Property that is solely used for business purposes.
A legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. In order to receive the privilege – usually ownership, the bearer must be able to do so without causing others undue hardship. A person who poses a risk to society as a result of holding a deed may be restricted in his or her ability to use the property. Deeds are most known for being used to transfer the ownership of automobiles or land between two parties.
Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence, while the others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different than those for residential real estate.
Property or real estate, not including buildings or equipment, that does not occur naturally. Depending on the title, land ownership may also give the holder the rights to all natural resources on the land. These may include water, plants, human and animal life, fossils, soil, minerals, electromagnetic features, geographical location, and geophysical occurrences.
The total value of the land, including any upgrades or improvements to the land.
Linda is a provincial licensed Real Estate Representation representing buyers or sellers in real-estate transactions in exchange for commission. She works for Sutton Group Quantum Realty Inc. and services Mississauga, Toronto, GTA, Oakville, Burlington, Brampton and Milton. Linda has a vast referral network system so she can facilitate the sale of any property and can assist buyers across Canada.
Linda has been selling since 1979 and has a team of experts to assist you with all of your Real Estate Needs.
Government (usually municipal) laws that control the use of land within a jurisdiction. If you are purchasing open land, Linda can direct you in the proper manner and make sure that your offer is conditional. You do not want to take chances on purchasing land without full knowledge of what you can do and can’t do on that land. You will also have to be informed on what the Municipality has listed on their Master Plan.