Real Estate Terms - Jethro SeymourJethro Seymour – Top Midtown Toronto (Davisville Village ,Leaside) Real Estate Agent
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Real Estate Terms

Posted by seymour on August 31, 2014
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Real Estate Terms from Jethro Seymour, one of the top Davisville Real Estate BrokersBungalow

A one-story house, cottage, or cabin.

Condominium or Condo

A large property complex that is divided into individual units and sold. Ownership usually includes a non-exclusive interest in certain “common properties” controlled by the condominium management.

Close

The final procedure in a home sale in which documents are signed and recorded. This is the time when the ownership of the property is transferred.

Closing Statement

A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. This document is prepared by a closing agent and is also known as a “settlement sheet”.

Commercial Real Estate

Property that is solely used for business purposes.

Deed

A legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. In order to receive the privilege – usually ownership, the bearer must be able to do so without causing others undue hardship. A person who poses a risk to society as a result of holding a deed may be restricted in his or her ability to use the property. Deeds are most known for being used to transfer the ownership of automobiles or land between two parties.

Investment Real Estate

Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence, while the others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different than those for residential real estate.

Land

Property or real estate, not including buildings or equipment, that does not occur naturally. Depending on the title, land ownership may also give the holder the rights to all natural resources on the land. These may include water, plants, human and animal life, fossils, soil, minerals, electromagnetic features, geographical location, and geophysical occurrences.

Land Value

The total value of the land, including any upgrades or improvements to the land.

Real Estate Sales Representative

A person with a provincial license to represent a buyer or a seller in a real-estate transaction in exchange for commission. Most Sales Representatives work for a real estate brokerage or agent.

Zoning

Government (usually municipal) laws that control the use of land within a jurisdiction.


About Jethro Seymour

Jethro Seymour, one of the Top Davisville Village Real Estate Brokers at Royal LePage RES Ltd., Johnston & Daniel Division . Jethro Seymour is a midtown Toronto residential specialist with over 20 years of sales experience in real estate, marketing, construction and publishing. He has helped many families find homes in Toronto’s great neighbourhoods, and has extensive knowledge of local markets, new home construction, resale home sales, and the condo market. Living in midtown Toronto, Jethro previews many of the homes that come to market for his clients and inventory knowledge. Jethro specializes in Midtown, Davisville Village and Leaside neighbourhoods. For more information, call Jethro Seymour, Broker at 416-712-0767, or email Jethro[add]SeymourRealEstate[dot]ca.

  • Testimonials

    259 Donlea Drive, Front View - Leaside Home Sale by Top Neighbourhood Realtor Jethro Seymour
    Another Leaside Home Sale by Top Broker Jethro Seymour
    Jethro is reliable, trustworthy, and set very realistic boundaries for us

    “We had received Jethro’s notepads and newsletters for quite some time. Friends in north Leaside had used him to sell their house, so we decided to give him a call when we decided to sell. We contacted two other agents, but once we met Jethro, we knew he was the right person for us.

    We had lived in our Leaside home for 29 years, so we were out of touch with the selling process. Jethro impressed us from the get-go. He was thorough and outstanding with digital marketing, even our friends..."

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