The granting of anything to which a value can be attached, given by the promisee to the promisor. Valuable consideration is a necessary element of a contract and can include money, work, beneficial right, interest, performance, assets, a promise, or abstaining from an act. Whatever is given or is to be given is referred to as valuable consideration.
In real estate, valuation is written analysis of the estimated value of a property prepared by a qualified valuer also known as the appraisal of property. In finance, valuation is the process of determining the present value (PV) of an asset.
A mortgage where payments are fixed, but the interest rate moves in response to trends (it could change from month to month depending on market conditions. If interest rates go up, a larger portion of your payment goes to the interest; if rates go down, more goes to cover the principal.
A person (or business) who sells particular type of product. In real estate a seller of real property.
Vendor Financing (Balance of Sale):
The seller sometimes takes the mortgage at a rate lower than market rates. Most of these arrangements are not renewable or transferable to the next owner.
Not valid or legally binding; having no force or effect.
In law, a transaction or action which is voidable is valid, but may be annulled by one of the parties to the transaction. A contract that is voidable is one where the offended party may make a choice.
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.
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.
Get organized and start planning your move at least two months in advance.
Prior to moving organize your belongings and get rid of all items you no longer use.
Properly dispose all items that cannot be moved, such as flammable liquids.
Return any borrowed items (including library books) and retrieve any loaned items.
One day prior to moving day, disconnect and prepare major appliances for move.
Separately pack all important documents; take them with you to be safe, easily accessible and easy to find.
If you have small kids or a pet that could be traumatized by a move, arrange to have them stay somewhere during moving day.
Label all your packed boxes accurately and clearly (preferably on all sides not on the top), so you can easily find what you need in a stack.
If you've made some new purchases, such as new furniture or appliances, schedule the delivery prior or after moving day to avoid any congestion between delivery people and the movers.
Don’t skip the final walk-through to check of all rooms, closet shelves and other spots where items may have been overlooked.