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Clarence Maquito, Real Estate Broker

Sutton Group-Admiral Realty Inc, Brokerage

Direct: 416-930-2021

Real Estate Terms

Bayview Village

Is located in Toronto, Ontario (which was formerly the City of North York). The boundaries of the Village are Sheppard Avenue on the south, Finch Avenue on the north, Bayview Avenue on the west and the East Don River on the east. Bayview Village began as a small rural farming community in the 1800's. The neighbourhood was planned in 1954 by Farlinger Development Ltd. 

Beaches (The) 

Also known as "The Beach" is a neighbourhood and popular tourist destination located in Toronto, Ontario. It is located on the east side of "Old" City of Toronto. The boundaries are from Victoria Park to the east, Kingston Road on the north, Eastern Avenue to Leslie on the west, south to the lakeshore of Lake Ontario. The Beaches is part of the east-central district of Toronto.

Bridle Path (The)

An upscale residential neighbourhood in the former city of North York, now part of Toronto, Ontario. It is characterized by large multi-million dollar mansions, often referred to as "Millionaires' Row". It is generally bounded by The Bridle Path on the north, Sunnybrook Health Sciences Centre on the south, Bayview Avenue on the west and Wilket Creek on the east. The Bridle Path is a secluded neighbourhood surrounded by the Don River Valley and lush parklands.

Bungalow

A one-story house, cottage, or cabin.


Condominium

A large property complex that is divided into individual units and sold. Ownership usually includes a non-exclusive interest in certain "common properties" controlled by the condominium management.


Close

The final procedure in a home sale in which documents are signed and recorded. This is the time when the ownership of the property is transferred.


Real Estate Terms

Closing Statement

A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. This document is prepared by a closing agent and is also known as a "settlement sheet".


Commercial Real Estate

Property that is solely used for business purposes.


Deed

A legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. In order to receive the privilege - usually ownership, the bearer must be able to do so without causing others undue hardship. A person who poses a risk to society as a result of holding a deed may be restricted in his or her ability to use the property. Deeds are most known for being used to transfer the ownership of automobiles or land between two parties.


Forest Hill

Is an affluent neighbourhood in central Toronto, Ontario. Together with Rosedale, and The Bridle Path, it is one of Toronto's three richest neighbourhoods. Forest Hill was originally converted into as a village in 1923, and later annexed by the City of Toronto in 1967, along with the village of Swansea.

Investment Real Estate

Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence, while the others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different than those for residential real estate.


Land

Property or real estate, not including buildings or equipment, that does not occur naturally. Depending on the title, land ownership may also give the holder the rights to all natural resources on the land. These may include water, plants, human and animal life, fossils, soil, minerals, electromagnetic features, geographical location, and geophysical occurrences.


Land Value

The total value of the land, including any upgrades or improvements to the land.


Rosedale

Is located north of downtown Toronto, Ontario and is one of its oldest suburbs. It is also one of the wealthiest and highly-priced neighbourhoods in Canada. It is known as the area where the city's "Old Money" lives, and is home to some of Canada's richest and most famous citizens. Rosedale's boundaries consist of the CPR railway tracks to the north, Yonge Street to the west, Bloor Street to the south, and Bayview Avenue to the east. The neighbourhood is divided into a north and south portion by the Park Drive Ravine.

Real Estate Broker

A real estate broker, such as myself, is usually required to have more education and experience than a real estate sales representative. The real estate sales representative can perform all the functions of a real estate professional while working under the sponsorship and direction of a real estate broker. Moreover, a real estate broker can act as a manager or owner of a real estate firm. Here in Toronto, Ontario, he/she is called the Broker of Record.

Real Estate Sales Representative

A person with a provincial license to represent a buyer or a seller in a real-estate transaction in exchange for commission. Most Sales Representatives work for a real estate brokerage or agent.


Zoning

Government (usually municipal) laws that control the use of land within a jurisdiction.

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