Category: Business
Created by: mbourgaize
Number of Blossarys: 6
English (EN) Day from which all calculations of interest, tax adjustments, utility bill adjustments are made to the credit of either the buyer or the sellers. Usually the same as possession date. Source: ...
Estimate of the market value of a property, used by lenders to determine the amount of the mortgage. Source: Vancouver Island Real Estate Board.
Value of a property set by the British Columbia Assessment Authority for the purposes of calculating property tax. Source: Vancouver Island Real Estate Board.
Portions of a condominium development owned in common, or shared, by the unit owners, such as a swimming pool, exercise room, lobby. A strata fee is charged to the owner of every unit for the use of ...
Shared ownership in a strata-titled property. Owners have title to individual units and a proportionate share in the common property. Source: Vancouver Island Real Estate Board.
First mortgage issued for up to seventy-five percent of the appraised or purchase price of the property, whichever is the lowest. Source: Vancouver Island Real Estate Board.
Amount that a lender will permit a borrower to use from his gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes. The Total Debt Services Ratio (TDS) is ...
