Useful Real Estate Terms 买房专用词买家必须知道
Below are the useful real estate terms, buyers need to know what they mean:
Adjustment Date 那天要交清有关税项，利息 等等， 那天也通常是交房日
The date agreed to by both parties for the allocation and adjustment of property taxes, interest, utilities, rents, and other appropriate items. This date is usually the same as the possession date.
Agreement For Sale 卖家愿意用租房的形式mai’f卖房：
The Seller agrees to sell the property to a Buyer on credit terms. Normally the Seller carries the financing himself and the Buyer arranges a payment with the Seller. The Seller remains on the title as registered owner. Very similar to a first mortgage. The agreement for sale is the registered contract.
Amortization 分期偿还
The paying off of debt with a fixed repayment schedule in regular installments over a period of time. Consumers are most likely to encounter amortization with a mortgage or car loan.
Appraised Value 房屋估价，通常银行做
A report made by a qualified person giving an estimate of value, based on experience, comparable sales, and pertinent data relating to the property.
Assessed Value 估计价值， 通常政府估计房屋价值
Used for the purpose of assessing property tax by a local municipality, this property value is assessed by the B.C. Assessment Authority.
Chattels 个人物品，卖家可以带走
Personal property not attached or affixed to the land or property. Also refers to appliances, etc. in a rental property.
Co-Op Suite 卖房时比较麻烦， 要整个Co-op同意才可以卖 – 房屋买家是整个Co-op的一部分
A co-op is a company formed to create and operate defined living spaces within a building. A Buyer purchases shares in the company that normally owns the building. The purchase of these shares usually entitles the owner to the sole use of a suite in a co-op building through a long-term lease or shareholder’s agreement.
Completion Date 交易日期， 过户
The date on which the Seller is entitled to the net proceeds of the sale and the Buyer is entitled to the transfer of the title. Real Estate commissions and legal fees are paid out at this time.
Deposit 定金
Money was taken at the time of acceptance or upon final subject removal as a sign of good faith. This money is held in a real estate company’s trust account pending the completion of the purchase and is credited towards the purchase price.
Fixtures 房子固定物品， 房东不能拿走
All things attached to the property or growing on it. To avoid this dispute, specify in writing any items that will not be included in the sale of the property. Better yet, remove them prior to offering the property for sale.
FSR 楼房面积比例
Floor Space Ratio. A City zoning term that defines the maximum allowable square footage to be built or occupied in a building in relation to its lot size.
Gross Taxes 毛税
The total amount of taxes owing as per your B.C. Assessment and municipal property tax bill before any deductions are made.
High Ratio Mortgage 高利息贷款
A situation where the loan exceeds 80% of the appraised value (or the selling price – whichever is lower). This loan must be insured by C.M.H.C. (Canadian Mortgage and Housing Corporation), G.E. Capital (Mortgage Insurance Canada) or other insuring agencies for a fee.
Market Value 房屋的市场价值
The highest price paid for a piece of property which has been exposed ‘for sale’ in the open market allowing a reasonable time to find a Buyer.
Net Taxes 实际税
The amount owing after allowable deductions made such as homeowners’ grant and senior citizen’s deductions.
Offer 要约
Offer to Purchase. A promise made by one party, the offeror, to another party, the offeree. A legal agreement which offers a certain price for a specified piece of real estate.
Possession Date 房屋过户日
The date the Buyer is entitled to possession of the property at twelve noon that day, subject to existing tenancies.
Property Disclosure Statement (P.C.D.S. or P.D.S.) 房东必须填写是否他/她的房子是否有毛坯 – 取决于房东的诚信
The Property Disclosure Statement is designed to protect all persons involved in real estate transactions. It provides a written record of representations made and, as importantly, not made, allowing the Buyer the opportunity to review the condition of your property so you’re less likely to overlook a defect. Disclosure can make the property more attractive to potential Buyers who often require completion of this form to reduce any risk of misunderstanding.
