Year-End Statement A mortgage summary or report that is sent to the borrower at the end of each year. The statement shows the amount of taxes and interest paid on the mortgage during the year, as well as the remaining loan balance. Year-To-Year Tenancy A periodic tenancy in which the rent is reserved from year to year. Yield to Maturity (YTM) The internal rate of return on an investment. … [Read more...]
Real Estate Glossary: W
September 30, 2008 By 1 Comment
Waiver The deliberate and voluntary relinquishment or surrender of a claim, right, or privilege. Walk-through The buyer's final inspection of a property which is being purchased is called a walk-through. This final inspectiongenerally takes place on the day of closing or one day prior to ensure all the conditions of the sale have been met. Warranty In real estate, warranty refers a … [Read more...]
A list of Real Estate Abbreviations: Residential
August 18, 2008 By Leave a Comment
Even though these days we are getting more descriptive Property Information Sheets, there can be times when you’ll run into an almost illegible document. These property sheets were often described with a lot of abbreviations. Trying to decipher its meaning is almost as hard as finding a good property! Here is a bilingual list of Real Estate abbreviations used to describe residential … [Read more...]
Real Estate Glossary: K
April 16, 2008 By Leave a Comment
Key Lot A property that must be acquired because it is essential to the development of land, either because of its strategic location or the timing of the acquisition. Kicker Any benefit to a lender above ordinary fixed-interest payments such as an equity position in a property or a percentage participation in the income stream. … [Read more...]
Real Estate Glossary: I
April 2, 2008 By 3 Comments
Illegal View (Quebec) Any exterior opening or opening in a structure or building that creates an illegal view of adjoining lands. Income Approach - Evaluation A step in the valuation process of an income property. The value is reached by estimating the annual income minus an allowance for vacancies and bad debts and then subtracting annual operating expenses, real estate taxes, and insurance … [Read more...]
Real Estate Glossary: H
March 26, 2008 By Leave a Comment
Hectare An area equal to 100 meters by 100 meters High-Ratio Mortgage A mortgage loan higher than 80% of the lending value of the property. Such types of mortgages may need to be insured. Holdback The amount of money withheld by the lender during construction of a property to ensure that construction at every state is satisfactory. … [Read more...]
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