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REAL ESTATE NEWS
| Luxury market Quebec |
| August 23 A renewed sense of political and fi nancial stability has contributed to a serious upswing in luxury home sales in Montréal (Island) during the fi r [...] |
| Sales Decrease Slightly in Second Quarter While Year-to-Date Sales Increase |
| July 14 Although second quarter sales decreased slightly by 4 per cent compared to the second quarter of last year, overall year-to-date sales in the province [...] |
| The seller remains free to refuse a promise to purchase even if it meets all the conditions in the brokerage contract |
| June 30 The Court of Appeal, the highest court in Québec, recently handed down a major decision for real estate brokerage in a case where the Association des [...] |
Glossary
A B C D E F G H I J L M N O P Q R S T U [ V ] W Y
vacancy allowance
An estimate of the amount of rent that may be foregone because of unoccupied units.
An estimate of the amount of rent that may be foregone because of unoccupied units.
variable expenses
Those costs which vary according to the extent to which a property is occupied (e.g., janitorial services in an office building).
Those costs which vary according to the extent to which a property is occupied (e.g., janitorial services in an office building).
variable rate mortgage
A loan being repaid by payments which change as the market interest rate changes.
A loan being repaid by payments which change as the market interest rate changes.
vendor take-back mortgage
A mortgage taken back by the vendor from the purchaser to facilitate a sale, whereby the vendor becomes the mortgagee and the purchaser becomes the mortgagor.
A mortgage taken back by the vendor from the purchaser to facilitate a sale, whereby the vendor becomes the mortgagee and the purchaser becomes the mortgagor.
vendor's statement of adjustment
Closing Statement which shows the net amount of proceeds to be received by the vendor upon completion of the transaction. See also Statement of Adjustment.
Closing Statement which shows the net amount of proceeds to be received by the vendor upon completion of the transaction. See also Statement of Adjustment.
void contract
A contract which never had any legal existence or effect and which is not capable of being enforced.
A contract which never had any legal existence or effect and which is not capable of being enforced.
voidable contract
One which exists until repudiated by a party entitled to do so at which time it becomes void.
One which exists until repudiated by a party entitled to do so at which time it becomes void.
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