Real Estate Terminology: L

The person or company from whom another holds tenancy.

Land Titles:
A system of land registration in which the government certifies the accuracy of title as shown on the record.

Land Transfer Tax:
A tax imposed on real property typically calculated on the value of the property.

Contract between landlord (lessor) and tenant (lessee) for the occupation or use of the landlord's property by the tenant for a specified time and for a specified consideration (rental).

Legal Description:
A written description by which property can be located and precisely identified.

Tenant under a lease.

The person or company who grants use of property under lease to a tenant.

A right, given to a creditor, creating an interest in the real property until the debt is discharged.

A horizontal structural beam that supports the load over an opening such as a door or window.

Lis Pendens:
A legal document giving notice that an action or proceeding is pending in the courts which affects the title to the designated property.

Listing Agreement:
The contract between the listing broker and an owner, authorizing the broker to facilitate the sale or lease of a property.

For more terminology and jargon check:

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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.

Know your credit rating first so you have time to resolve any issues that might stand in your way of buying.
Know your price range and obtain a pre-approved mortgage before you start house hunting.
Stick to your price range, no matter the economic situation, because it is safer to buy within your budget.

Lorne Park Brantford

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