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Real estate
Of or pertaining to property of land and the buildings on it. This also includes any minerals, crops, or any other natural resource. The business of real estate is the buying, selling, or renting property.
6Categories 16551Terms
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Real estate > Residential 
foreclosure
Real estate; Residential
Legal process by which the lender takes possession and ownership of a property when the borrower does not meet the mortgage obligations.
High Ratio Mortgate
Real estate; Residential
Mortgage that exceeds seventy-five percent of the loan-to-value ratio. It must be insured by either the Canada Mortgage and Housing Corporation (CMHC) or a private insurer to ...
mortgage
Real estate; Residential
Contract between a borrower and a lender whereby the borrower pledges a property as security to guarantee repayment of the mortgage debt. Source: Vancouver Island Real Estate ...
lien
Real estate; Residential
Any legal claim of one person against a property of another, filed to ensure payment of a debt or the satisfaction of an obligation. Source: Vancouver Island Real Estate Board.
mortgage insurance
Real estate; Residential
Insurance protecting the lender against the borrower's default on high-ratio mortgages, usually backed by the government or a private insurance company. Source: Vancouver Island ...
mortgage penalty
Real estate; Residential
Fee paid by the borrower to the lender in exchange for being permitted to break a contract, or mortgage agreement. Usually three months interest, but it can be higher or the ...
Multiple Listing Service (MLS)
Real estate; Residential
Current and comprehensive listing system to provide information on properties for sale. It offers the widest exposure to properties listed for sale, including exposure on the ...
Sub-categories
- Commercial (226)
- Contracts (13098)
- Corporate (746)
- Home improvement (1576)
- Mortgage (522)
- Residential (169)