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Glossary Of Real Estate Terms
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Glossary R

Real Estate Board:

A non-profit organization representing local real estate brokers/agents, salespeople, which provides services to its members and maintains and operates a MLS® system in the community.

Realtor:
Trademark identifying real estate professionals in Canada who are members of The Canadian Real Estate Association, and as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

REIT (The Real Estate Investment Trust):
Best described as bundles of properties in which investors acquire an ownership portion along with the right to participate proportionally in returns. They permit small investors to pool resources and participate in large scale and/or diversified projects. The majority of real estate investment trusts hold a variety of property types although some specialization does occur (e.g. nursing homes, residential apartments, hotels, etc.)

Roll-Over-Mortgage:
A mortgage loan where the interest rate is established for a specific term. At the end of this term, the mortgage is said to "roll over" and the borrower and lender may agree to extend the loan. If satisfactory terms cannot be agreed upon, the lender is entitled to be repaid in full. In this case, the borrower may seek alternative financing.


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