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Glossary

AMORTIZATION PERIOD:

Number of years required to re-imburse a mortgage.


APPROXIMATE VALUE:

Value of the property estimated by a certified appraiser in order to grant a mortgage.  Do not confuse with building inspection.


TRANSFERABLE LOAN:

Mortgage allowing the buyer to take over the mortgage of the sellor.


CLOSED MORTGAGE:

Mortgage with a specific re-imbursement calendar.  An indemnity is usually requested in case of full re-imbursement of the loan prior to established duration. 


CONDOMINIUM CHARGES:

Amount paid by the owners for community expenses.


STANDARD MORTGAGE:

Mortgage representing 75% of the estimated value or the purchase price of the property, the lesser of the two amounts.


DOWN PAYMENT:

Cash payment by the buyer.  Difference between purchase price and mortgage.


EARNED VALUE:

Difference between the market value of the property and loans on the property.



23 January 2018
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L'ÉQUIPE AVANTAGE

Proprio Direct

819-773-4000
Send me a text
L'ÉQUIPE AVANTAGE

L'ÉQUIPE AVANTAGE

PROPRIO DIRECT
819-773-4000
Send me a text
Send me an email
L'ÉQUIPE AVANTAGE
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