Real Estate Terminology: D

Compensation or indemnity for loss owing for breach of contract, or a tort (civil wrong).

Date of Completion:
The date when the title to real property transfer to the new owner.

Debt Service Ratio:
The percentage of a borrower's gross income that can be used for housing costs (including mortgage payments and taxes). This is used to determine the amount of monthly mortgage payment the borrower can afford.

A legal document, duly executed and delivered, that transfer an interest or title in real property.

Deed Restriction:
An imposed restriction in a deed for the purpose of limiting the use of the land.

Failure to fulfill a promise or obligation.

The tearing down or destruction of a structure. Usually, a demolition permit must be obtained from the local building department.

Down Payment:
The part of the purchase price paid by the buyer which is not financed with a mortgage.

Dual Agency:
Representation of two principals (usually seller and buyer) by the same agent in the same transaction.

For more terminology and jargon check:

Buyer Info

Buyer Info

Since choosing a right property to buy starts with needs and desires and finishes with a sizable portion of your earnings used for paying for it, it's important to ensure that the property you choose both meets your needs and is a good "fit" with your financial situation.

Seller Info

Seller Info

If you currently own property and are thinking of placing it on the market, get informed about preparing your home for sale, pricing your property appropriately, marketing it effectively and learn everything you can about real estate sale process so you can maximize your chance of a profitable sale by avoiding costly marketing mistakes.

Victoria Park Square - Brantford

Real Estate & Related Info


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Closing Cost

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Moving Tips

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Although not complete, the glossary of real estate terms will help you with some of the more common terms. More...

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