Earnest Money Deposit
A deposit made by the potential home buyer to show that he or she is serious about buying the house. Equity
The difference between the value of the property and the amount owing (if any) on the mortgage. Estate
The ownership interest of an individual in real property. The sum total of all the real property and personal property owned by an individual at time of death.
Exclusive Listing
A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.
Source: The Canadian Real Estate Association (http://www.crea.ca)
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