Blended payments
Payments consisting of principal and interest components, paid during the amortization period of a mortgage.
Broker
A person licensed by the provincial or territorial government to trade in real estate. Real estate brokers may form companies or offices which appoint sales representatives to provide services to the seller or buyer, or they may provide the same services themselves. In parts of Canada, brokers are referred to as agents.
Buyer's Agent (also known as "Buyer's Broker" or "Purchaser's Agent")
A person or firm representing the buyer. A Buyer's Agent's primary allegiance is to the buyer. The buyer is the Buyer Agent's client.
Buyer Brokerage Agreement
A written agreement between the buyer and the buyer's agent, outlining the agency relationship between the two parties and the manner in which the buyer's agent will be compensated. In some provinces, a buyer agency relationship evolves automatically, without a written agreement.
Source: The Canadian Real Estate Association (http://www.crea.ca)
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