Category Archive for "Real Estate Terminology 101"

Real Estate Terms: Property Disclosure Statement (PDS)

Ryan Coffey

If you’re buying or selling real estate in British Columbia, you’ve most likely encountered a Property Disclosure Statement (PDS). It’s an important document for everyone. It is one of the steps of the property selling process that is designed to keep…

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Real Estate Terms: Having your listing “on tour”

Ryan Coffey

Around here we call it “tour” and in some other parts of North America I’ve heard it referred to as “caravan”. Regardless of terminology it is practiced widely across North America and for all I know beyond those borders as…

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The Most Subjective Term in Real Estate?

Ryan Coffey

Nanaimo is a waterfront town with an elongated shape much of which is built upon hills, ridges and a mountain. This means that we have an awful lot of homes with ocean views in Nanaimo. Today, you can find a…

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buy a home

Real Estate Terms: Estate Sale

Ryan Coffey

There are many reasons why someone may want or need to sell a home and not all of them are happy reasons. When a homeowner passes away, something must be done with their home and often their heirs decide to…

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Real Estate Terms: Buying a listing

Ryan Coffey

It’s so common that we have a word for it. Catching someone on it and proving that it was done is hard to do because the nature of pricing is that it is very interpretive. A Realtor is in a…

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Real Estate Terms: Special Assessment

Ryan Coffey

Not all dirty words are four letters long. “Special assessment” is a term that is a red flag for anyone initiated into the world of real estate. That’s not to say that if there is a special assessment going on…

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Can I Buy the House I Want Before I’ve Sold the House I Have? Real Estate Terms: Time Clause

Ryan Coffey

Yes, we can do contracts subject to the sale of an other property. I described it briefly in this post about the various kinds of ‘sold’, but will describe it another way here. It’s not a super complicated thing but…

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Real Estate Terms: Building Style

Ryan Coffey

While you’ve been browsing MLS listings, you probably come across various terms used to describe the style of house like ‘rancher’ or ‘westcoast contemporary’ and perhaps wondered why you aren’t seeing words that may be common where you come from….

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Real Estate Terms: “Sold” vs. the Various Stages Along the Way

Ryan Coffey

You would think it should be binary. It’s either SOLD or it’s not. This isn’t however how things work in our real estate system as there are procedures, situations and therefore categories to describe stages along the way. There are…

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Real Estate Terms: Multiple Listing Service (MLS)

Ryan Coffey

I think that if you’ve made it as far as my Nanaimo real estate blog, you probably already have a pretty good idea of what the MLS is. Now I’m going to give you more of a working understanding of…

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