Bungalow

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.

Condominiums Buildings

 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 COA logo blue backingis run by elected Board of Directors who control and make decisions 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.

Closing Statement

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.

Deed

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.

Investment Real Estate

Real estate that generates income or is intended for investment purposes rather than primary residence. It is common for investors to own multiple pieces of real estate, one which serves as a primary residence, while others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different from owner occupied residential real estate.

Land

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.

Land Value

The total value of the land, including any upgrades or improvements to the land. 

Zoning

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.