Brokerage Contract Agreement under which a person authorizes real estate broker to act for a given period of time, as intermediary in the purchase, sale, rental or exchange of immovable property. The brokerage contract officializes the rights and obligations of the broker and his client by mutual consent. In an exclusive brokerage contract the client agrees, for the term of the contract, not … [Read more...]

Act of sale A contract, usually drawn up by a notary, usedto officialize the sale of an immovable to a buyer. Amortization Period required to pay back a mortgage loan in full through regular payments. The amortization is usually based on fixed terms of 10, 15, 20 or 25 years. Appraisal A process for estimating the market value of a particular property. Appreciation The increase in … [Read more...]