Category: Business
Created by: mbourgaize
Number of Blossarys: 6
English (EN)Real estate transaction completion, when the parties involved agree that all legal and financial obligations have been met and the deed to the property is transferred from the seller to the buyer. ...
When the seller reduces the interest rate on a mortgage by paying the difference between the reduced rate and market rate directly to the lender or to the buyer. Source: Vancouver Island Real Estate ...
Value of a property set by the British Columbia Assessment Authority for the purposes of calculating property tax. Source: Vancouver Island Real Estate Board.
Estimate of the market value of a property, used by lenders to determine the amount of the mortgage. Source: Vancouver Island Real Estate Board.
Number of years it takes to repay the entire amount of the mortgage by periodic payments to the creditor. Source: Vancouver Island Real Estate Board; Random House Webster's Unabridged Dictionary.
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: ...
