1. Amortization: The gradual repayment of a mortgage loan through regular installments, which include both principal and interest, over a specified period.
2. Appraisal: An expert's assessment of a property's value, conducted by a certified appraiser, often required by lenders before approving a mortgage.
3. Assessment: The valuation of a property by municipal authorities to determine property taxes.
4. Buyer's Market: A market condition favoring buyers due to an abundance of available properties, resulting in lower prices and more negotiation power.
5. Capital Gain: The profit realized from selling a property at a higher price than its purchase cost.
6. Closing Costs: The fees and expenses associated with finalizing a real estate transaction, including legal fees, land transfer taxes, and administrative costs.
7. CMHC: Canada Mortgage and Housing Corporation, a government agency providing mortgage insurance to buyers with less than a 20% down payment.
8. Condominium: A housing unit within a larger building or complex where residents own their individual units and share ownership of common areas.
9. Down Payment: The initial payment made by a buyer towards the total purchase price of a property, often expressed as a percentage.
10. Dual Agency: When a real estate agent represents both the buyer and the seller in a transaction, potentially creating conflicts of interest.
11. Easement: A legal right allowing one party to use a portion of another party's property for specific purposes, such as access or utilities.
12. Equity: The difference between a property's market value and the outstanding mortgage balance.
13. Fixed-Rate Mortgage: A mortgage with an interest rate that remains constant throughout the loan term.
14. Foreclosure: The legal process by which a lender repossesses a property due to the borrower's inability to meet mortgage payments.
15. FSBO: For Sale By Owner, indicating a property that is being sold directly by the owner without involving a real estate agent.
16. Gross Debt Service Ratio (GDS): The percentage of a borrower's gross income required to cover housing costs, including mortgage, taxes, and utilities.
17. Home Inspection: A professional evaluation of a property's condition, highlighting any potential issues before a purchase is made.
18. Interest Rate: The cost of borrowing money, expressed as a percentage of the loan amount.
19. Land Transfer Tax: A tax levied on the transfer of property ownership from one party to another.
20. Listing Agreement: A contract between a property owner and a real estate agent, outlining terms for marketing and selling the property.
21. Market Value: The estimated worth of a property in the current real estate market.
22. Mortgage Broker: A professional who helps borrowers find suitable mortgage options from various lenders.
23. Multiple Listing Service (MLS): A database used by real estate professionals to share property listings and information.
24. Open House: A scheduled event where potential buyers can view a property without an appointment.
25. PITI: Principal, Interest, Taxes, and Insurance – the components of a monthly mortgage payment.
26. Pre-Approval: A lender's initial assessment of a borrower's creditworthiness, providing an estimate of the mortgage amount they could qualify for.
27. Real Estate Agent: A licensed professional who facilitates property transactions, representing buyers, sellers, or both.
28. Seller's Market: A market condition favoring sellers due to high demand and low inventory, often leading to higher prices and less negotiation.
29. Survey: A detailed map or drawing that outlines a property's boundaries, structures, and features.
30. Title: Legal ownership of a property, often confirmed through a title search and conveyed through a deed.
31. Underwriting: The process by which a lender evaluates a borrower's credit, income, and other factors to determine mortgage approval.
32. Vacancy Rate: The percentage of unoccupied rental units in a given area, reflecting the supply and demand for rental properties.
33. Zoning: Local regulations that dictate how land and properties can be used, impacting property values and development.
34. Adjustable-Rate Mortgage (ARM): A mortgage with an interest rate that changes periodically based on a specific index.
35. Bridge Financing: Short-term financing that helps homeowners cover the gap between the purchase of a new property and the sale of their existing one.
36. Buyer's Agent: A real estate agent representing the interests of the buyer in a transaction.
37. Cash Flow: The net income generated from a rental property after deducting expenses like mortgage payments, taxes, and maintenance.
38. Deed: A legal document that transfers ownership of a property from one party to another.
39. Eminent Domain: The government's right to acquire private property for public use, with fair compensation to the owner.
40. Home Equity Line of Credit (HELOC): A revolving credit line secured by the equity in one's home, allowing homeowners to borrow as needed.
41. Lien: A claim against a property by a creditor to secure debt repayment.
42. Mortgage Insurance: Protection for lenders in case borrowers default on their mortgages, often required for down payments less than 20%.
43. Property Manager: A professional responsible for overseeing and managing rental properties on behalf of owners.
44. Real Property Report (RPR): A legal document detailing a property's boundaries, structures, and improvements, often required for real estate transactions.
45. Semi-Detached: A housing unit attached to one other unit, sharing a common wall.
46. Strata Fee: A monthly fee paid by condominium owners to cover maintenance and common area expenses.
47. Title Insurance: Protection against potential defects in a property's title or ownership history.
48. Variable-Rate Mortgage: A mortgage with an interest rate that fluctuates based on changes in the prime lending rate.
49. Walk-Through: A final inspection of a property before closing to ensure its condition aligns with the agreed-upon terms.
50. Yield: The return on investment for an income-generating property, often calculated as the annual rent income divided by the property's value.                

Understanding these real estate terms will undoubtedly empower both buyers and sellers in the Canadian property market, fostering informed decisions and successful transactions.