11 Real Estate Terms You Need To Know For 2024
The Canadian Real Estate Investor
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Understanding Real Estate Costs and Deal Structures
The chapter elaborates on essential real estate terms such as taxes, maintenance, insurance, and closing costs, stressing the importance of budgeting for expenses like rent adjustments and legal fees. It also explains the concept of deposits in real estate transactions, distinguishing them from down payments and highlighting their role as a show of good faith. The discussion emphasizes the crucial role of home inspections in due diligence, underscoring the necessity of identifying major defects and maintaining detailed maintenance records for long-term property management.
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