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Average Selling Price of Homes In the Greater GTA
Let's take a look at the average selling price of homes in the Greater GTA. This includes the Greater Toronto Area and the areas surrounding it to the North, East and West. It sure looks like its a good time to make that purchase!
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Buying a home is one of the largest financial transactions you will make in your life, so there are many important questions to consider when purchasing a home. Elation Realty goes beyond the transaction and will be there with you every step of the way. Trust the experience of Elation Realty to help you find your dream home.
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HOME BUYER'S GLOSSARY
AMORTIZATION PERIOD
The number of years it takes to repay the entire amount of the financing based on a set of fixed payments.
APPRASIAL
The process of determining the market value of a property.
CLOSED MortgageS
A mortgage that can not be prepaid or negotiated for a set period of time without penalties.
Closing date
The date on which the new owner takes possession of the property and the sale becomes final.
Collateral
An asset, such as term deposit, Canada Savings Bond, or automobile, that you offer as security for a loan.
Deposit
A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (Seller), the deposit is held in trust by the listing real estate broker, lawyer, or notary, until the closing date of sale, at which point it is given to the vendor.
Equity
The difference between the market value of the property and any outstanding mortgages registered against the property. This difference belongs to the owner of that property.
MORTGAGE
A mortgage is a loan that uses a piece of real estate as a security. Once the loan is paid-off, the lender provides a discharge for that mortgage.
Term
The period of time the financing agreement covers. The terms available are; 6 month, 1,2,3,4,5,6,7,10 year terms, and the interest rate will be fixed for whatever term one chooses.
Take the next step in your journey
I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:
CENTURY 21 Property Zone Realty | Elation Realty
INFO & SERVICES
CENTURY 21 Property Zone Realty | Elation Realty
25 Van Kirk Dr #1b, Brampton, ON L7A 1A4
416-220-4791
INFO & SERVICES
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