GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Realty Terms

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bootDefinition (Automotive, Real-estate, Financial-banking)
Cash or other property used in an exchange to make the values of property traded equal. For instance, if you trade in a delivery truck on a new model, the cash you pay in addition to your old truck is boot.
borrowDefinition (Real-estate, Financial-banking)
To get a loan of money.
borrow pitDefinition (Real-estate)
A hole from which topsoil, gravel, or other material is removed for use in a construction project.
boundaryDefinition (Real-estate)
The line dividing adjacent properties.
Brampton Real Estate Board (BREB)Company, Canada
breach of covenantDefinition (Real-estate, Legal-contracts)
Violation of a promise made in a contract or property deed.
breach of warrantyDefinition (Real-estate, Legal-contracts)
A determination that a seller cannot pass clear title of property to a buyer.
bridge financingDefinition (Mortgages, Real-estate, Financial-banking)
A short-term, high interest loan that allows a seller to purchase a new property before selling an existing property.
British Columbia Northern Real Estate Board (BCNREB)Company, British Columbia, Canada
  ➥  More commonly BC Northern Real Estate Board.
British Columbia Real Estate Association (BCREA)Company Est.1976, British Columbia, Canada
broker (Bkr)Definition (Mortgages, Real-estate, Insurance, Financial-banking, Abbreviation, Legal-contracts)
A person or firm who acts on behalf of another.
broker's price opinion (BPO)Acronym
A real estate valuation performed by a local, licensed real estate professional. It is used in situations where a formal appraisal is not required.
broom cleanDefinition (Real-estate)
Ready to be cleaned and painted. The term does not mean immaculate or spotless or entirely clean.
buffer stripDefinition (Real-estate)
This refers to a parcel or stretch of land that separates two pieces of property.
builder upgradesDefinition (Real-estate)
Refined features or materials that a builder offers for an extra charge.
builder's renovation (bldrs redo)Abbreviation (Abbreviation)
building (bldg)Abbreviation (Abbreviation)
building and loan associationDefinition (Mortgages, Real-estate)
A financial institution designed to help members finance real-estate transactions.
building inspectorDefinition (Real-estate)
A local government employee who enforces the building code and makes sure construction and renovation work is done properly.
building moratoriumDefinition (Real-estate)
A temporary or permanent halt on construction.
building permit (BPmt)Definition (Real-estate, Abbreviation)
Authorization by a local government to construct or repair a structure.
building restrictionsDefinition (Real-estate, Legal-contracts)
Local regulations that limit the size, height, materials, colours, uses, locations, placement and other characteristics of houses.
building specifications (bldg spec)Abbreviation (Abbreviation)
built (blt)Abbreviation (Abbreviation)
built-insDefinition (Real-estate)
Items, such as appliances and cabinets, that are permanently attached to a building.
bundle of rightsDefinition (Real-estate, Legal-contracts)
A set of legal rights that an owner has regarding a property.
bungalow (bung)Abbreviation (Abbreviation)
buyer agent commission (BAC)Acronym
Refers to the sales commission earned by or due to the broker or agent representing the buyer in a real estate transaction.
buyer agent showing (BAS)Acronym
Refers to the showing of a real estate listing by the broker or salesperson representing a prospective buyer.
buyer brokerDefinition (Real-estate)
One who earns a commission from the buyer of a property in exchange for finding a seller and assisting in negotiation.
buyer's marketDefinition (Investments, Real-estate, Financial-banking)
When market conditions favour the buyer.
bylawsDefinition (Real-estate, Legal-contracts)
The written rules governing an organization such as a homeowners association.
Calgary Real Estate Board (CREB)Company Est.1927, Calgary, Alberta, Canada
Calgary Real Estate News (CREN)Calgary, Alberta, Canada
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT)Company, Canada
Canadian Association of Real Estate Boards (CAREB)Company, Canada
  ➥  See Canadian Real Estate Association (CREA).
Canadian Institute of Public and Private Real Estate Companies (CIPPREC)Company, Canada
Canadian Institute of Public Real Estate Companies (CIPREC)Company, Toronto, Ontario, Canada
Canadian National Association of Real Estate Appraisers (CNAREA)Company, Canada
A national non-profit professional association that certifies and regulates real property appraisers in Canada.
Canadian Personal Property Appraiser (CPPA)Canada
Canadian Personal Property Appraiser Group (CPPAG)Canada
Canadian Real Estate Association (CREA)Company Est.1888, Canada
The Canadian Real Estate Association is one of Canada's largest single-industry trade associations offering the REALTOR® designation to real estate professionals within their membership programs.
  ➥  Formerly known as the Canadian Association of Real Estate Boards.
Canadian Real Estate Investment Group (CANREIG)Company, Canada
Canadian Real Estate Investment Trust (CREIT)Company Est.1993, Canada
Canadian Residential Appraiser (CRA)Canada
capital expenditureDefinition (Investments, Real-estate, Financial-banking)
The cost of making an improvement to a property.
capital improvementDefinition (Investments, Real-estate, Financial-banking)
Any permanent structure or other asset added to a property that adds to its value.
capital investmentsDefinition (Investments, Real-estate, Financial-banking)
Money used to purchase permanent fixed assets for a business, such as machinery, land or buildings as opposed to day-to-day operating expenses.
capitalization rateDefinition (Investments, Real-estate, Financial-banking)
An estimated percentage rate of return that a property will produce on the owner's investment.
caravanDefinition (Real-estate)
An outing in which a group of real-estate agents look at houses that have been listed for sale recently.
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Architectural...Book Value
 
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Boot — Caravan
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CarportCommercial Property...

Search the Glossary

Index of Realty Terms

Page 1: Abandonment
Architectural Fees
Page 2: Architectural Significance
Book Value
Page 3: Boot
Caravan
Page 4: Carport
Commercial Property...
Page 5: Commercial Property Manager
Covenantor
Page 6: Credit Repository
Electric or Electricity
Page 7: Elevator
Flood Plain
Page 8: Floor Plan
Inspection Report
Page 9: Inspection Required
Local Improvement Charge
Page 10: Local Taxes
New Home Warranty Program
Page 11: Newfoundland Association of...
Price Related Differential
Page 12: Prince Edward Island Real...
Real Estate Investor
Page 13: Real Estate Magazine
Second Home Mortgage
Page 14: Security
Title Defect
Page 15: Title Insurance
Yukon Real Estate...
Page 16: Zero
Zoning

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