Safety Margin:
In income property, a dollar or percentage factor that serves as a financial cushion for the lender between the obligation of an owner to pay annual debt service and the forecasted net operating income from the property under consideration.

In real estate, a supplementary form completed and included with the real estate purchase contract for the benefit of a buyer in a real estate transaction.

Second Mortgage:
This is usually mortgage at a higher interest rate and represents the difference between the price of the house and first mortgage plus the down-payment. May be obtained from banks and finance companies or through lawyers or notaries.

Seller's Agent:
The Seller's Agent represents the seller -- either as a Listing Agent under the listing agreement with the seller or by cooperating as a Sub-Agent, typically through the MLS® system. In dealing with prospective buyers -- customers-- the Seller's Agent can provide a variety of information and services to assist the buyer in his/her decision-making. The Seller's Agent does not represent the buyer.

Sandwich Lease:
A leasehold interest in a property created by means of a sublease from the leasee to a sublessee.

Special Tax:
A levy imposed by a municipality on property owners to fund construction of a project that will benefit a defined area.

Specification Form:
A document stipulating the kind, quality and sometimes the quantity of materials and workmanship required in the construction of a particular house.

A certificate prepared by a qualified surveyor showing the home and other buildings relative to the property boundary.

Buying Your Own House

Buying Your Own

Making the decision to become a homeowner is good decision since buying a home is a great investment in your future. Choosing a home to buy starts with your needs and desires and should process logically until you find something you can afford.

Moving Tips

Tips for Planning a Successful Move

There's little doubt that Canadians are on the move. Whether moving from an apartment to a house, apartment to apartment or home to home, moving is no simple matter. With careful planning, however, your transition can be facilitated in an organized and efficient manner, allowing you the peace of mind you need to settle into your home.

Make sure your moving boxes are closed and taped properly. Open boxes take more space and are more difficult to handle.
Avoid packing things in garbage bags because people could accidentally throw them out on moving day.
Pack a box of items that will be needed first at the new house. Clearly mark this box "Load Last."


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