Your Real Estate Glossary

There’s a specific glossary for real-estate that’s filled with words you likely hear all the time, but may not know quite what they mean. Here, we’ll break down some of the most commonly used real-estate jargon and explain exactly what they mean!
Ammortization: The length of time required to reduce a debt to zero dollars when payments are made regularly. Most ammortization periods range from 15 to 25 years.
Conditional Offer: An Offer to Purchase that is subject to specified conditions. One of these specified conditions is often arranging a mortgage.
Equity: The difference between the price a home could be sold for, and the total amount of debts registered against said home (i.e. the mortgage). Market values and home improvements affect a home’s equity.
Frontage: The length in feet of a property abutting, or facing, a street or body of water.
Frontage: Line of credit: The maximum credit limit allowed to a borrower from a banker, provided the borrower’s credit remains in good standing.
Riparian: Those rights and obligations as a result of owning land that is adjacent to or abutting on bodies of water.
Turnkey Project: A development term meaning the complete construction of a property from ground breaking to the completion of the building. All that’s left is “turning over the keys.”
Zoning: A legal mechanism or process used by local governments to regulate the use of privately owned real property. This is done by applying police power to prevent conflicting land uses and promote orderly development.
Which other real-estate terms are you curious about? Do any of these surprise you?
For more information on selling or buying your home, contact Brent Sheppard today.

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  • To Whom It may Concern: I am pleased to provide feedback on our experience working with Brent Sheppard as our realtor. My husband and I worked with Brent to find our first family home and then to sell my condominium. …

    D. Lowden

  • “Above and beyond the call”, this is what I think of Brent Sheppard. Brent Sheppard had our house listed hours after we had signed the listing contract, which was on Sunday. Monday at 10:00 am Brent had a couple of showings set …

    Ken Becker

  • My husband and I recently chose Brent Sheppard as our realtor for both the sale of our condo as well as the purchase of our new house. Prior to approaching Brent to sell our condo, we had listed it unsuccessfully with another …

    The Moody’s

  • To Whom It May Concern: After knowing Brent for a number of years, and recently contracting with him for the sale of our home, I am pleased to offer a reference for him.  It is not often you come across …

    Gillian Skeates

  • Carole (my wife) and I have been very fortunate to have chosen this realtor for our house sale. Throughout the process for the original advice and agreement to use Brent as our representative, we have been provided with superb advice …

    The Gaberts



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