Real Estate Fort St. John | Common Real Estate Terms
by Elizabeth Chi
on Thursday, January 12th, 2017 at 4:20pm.
The process of purchasing real estate, from starting the search through Fort St John properties to closing on your dream home, may seem like an intimidating process full of confusing and time-consuming steps.
I’m here to tell you that with the right Fort St John real estate agent, that doesn’t have to be the case!
As a real estate agent Fort St John, I am here to make the process of moving into the home of your dreams not only a reality but an enjoyable experience. I work hard so you don’t have to!
Throughout my experience in the Fort St John real estate industry, I have found there are a few common real estate terms that tend to need explaining. I find this is because a few of them are similar to other related words.
A condominium, for example, is a single, individually-owned housing unit in a multi-unit building. The condominium owner holds sole title to the unit, but owns the land and common property (elevators, halls, roof, stairs, etc.) jointly with other unit owners, and shares the upkeep expenses on the common-property with them. Unit owner pays property taxes only on his or her unit, and may mortgage, rent, or sell it just like any other personal property.
Two terms that are often confused for each other are assessor and appraiser. An assessor determines the value of a certain property for the purpose of taxation. An appraiser uses their knowledge and experience in the real estate industry to determine what they believe to be the value of the real and personal property.
An appraisal is simply the written explanation for the value determined by the appraiser.
Another common real estate term is equity. Equity is the financial interest of the property’s homeowner. This interest is the difference between the fair market value of the home and the amount the homeowner still owes on their loan.
Of course, a real estate agent is a licensed professional who has the ability to negotiate and complete real estate sale transactions on behalf of their clients. More than that, a Fort St John real estate agent like myself is an experienced, knowledgeable and always available to help their clients.
For more information on real estate Fort St. John, give me a call today at 778.256.2888!