This section of the book is from the "Selling Your Own Home - A Step-By-Step Guide" book, by Helen Manning and Thealzel Lee, published in 1989. Also available from Amazon: Selling Your Own Home
Abstract
The written history of your property that you can view at your local registry office.
Agreement Of Purchase And Sale
A contract between the purchaser and vendor for the purchase and sale of a property.
Appraisal
An estimate of your home's market value available from a registered appraiser or real estate agent. The former often gives a more conservative appraisal.
Appurtenances
Established rights that are passed on with the property.
Assessed Value
The official value of a property determined by the local municipality for tax purposes.
Buyer/Purchaser
Those who will be listed on the legal deeds as owners of the property.
Closing
The final legal actions which transfer ownership of the property from vendor to purchaser on the day specified in the purchase agreement.
Closing Statement
A summary of the financial transactions involved in the transfer of property from vendor to purchaser.
Cloud On Title
Outstanding claims on the title of the property which must be settled before transfer.
Condominium
A separately owned unit of a multi-unit building which has its own title.
Consideration
In real estate transactions the cash deposit given with the offer. It signifies that the offer has been made in good faith and that the purchaser intends to close if the deal is accepted.
Contract
A legally binding agreement between competent parties to perform or not perform specific actions.
ConveyanceThe transfer of ownership of real property.
Co-Operative
A multi-unit building which is owned by members of a group. Each member possesses shares in the building.
Curb Appeal
Real estate jargon used to describe how attractive a house appears from the outside.
 
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