Real Estate Lingo: SBP/SPP/SOP
Something that's been coming up with our buyers and sellers lately has been the sale of the buyer's property, so let's go over that now.If…
Category: real estate lingo
Real Estate Lingo: What’s an Amendment?
What's an amendment?An amendment is a change to an agreement of purchase and sale or offer.It could be anything from deleting a condition or a…
Real Estate Lingo: What is Debt Servicing?
What is Debt Servicing?Debt Servicing looks at your overall income coming into the household.Then we look at your debt. What kind of debt are you…
Real Estate Lingo: What’s FINTRAC?
The word of the day is FINTRAC.What is FINTRAC?Why is my realtor asking for my ID, job history, and whether I'm the head of an…
Real Estate Lingo: What is an MLS?
We decided to do a little series on real estate terminology because sometimes it can be cryptic.So let's start with the basics. What is an…
Real Estate Lingo: Construction Mortgage
Are there options for getting mortgages if they're building their own home?Absolutely. It's called a construction mortgage.And that's typically when a client is either looking…
Real Estate Lingo: Conventional vs High Ratio
What's the difference between a conventional mortgage and a high ratio or a default-insured mortgage?A conventional mortgage is for a client who will put down…
Real Estate Lingo: What’s A Range?
More listing terminology.You're looking on realtor.ca and see that something has a gas or dual fuel range.What's a range?A range is the entire stove, top…
Real Estate Lingo: What Does Pending Mean?
What does Pending mean?Your realtor sends you a listing, or you find it on your preferred real estate platform and notice the status is pending.It…