Frequently Asked Questions | Definitions
  • Agreement For Sale

    A written contract between a vendor and a p purchaser in which the purchaser agrees to buy a particular property and the vendor agrees to sell on terms and conditions set forth therein. 

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  • Bona Fide

    In good faith, without fraud.

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  • Building Permission

    Written permission from the relevant government agency for the construction or renovation of a building.

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  • Capital Appreciation

    The increase in value of a real estate asset over time.

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  • Capital Improvement

    Any structure erected as a permanent improvement to real estate increasing the value and extending its useful life.

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  • Chattel

    Personal property such as household fixtures.

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  • Client

    An individual who employs a broker.

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  • Conveyance

    The transfer of the certificate of title from one individual to another.

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  • Earnest Money

    Down payment made by purchaser in evidence of good faith prior to signing of agreement for sale.

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  • Easement

    A right registered on title which may be exercised by the public on, over or through the lands of others.

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