Consent by the person receiving the offer to be bound by the terms and conditions of the person making the offer. Acceptance of an offer constitutes an agreement

A second building on a lot and one that is not considered to be the primary building, e.g. a storage shed or a parking space. Usually described as 'Accessory Building' or 'Accessory Unit'

Any act of nature such as rain, lightning, floods or earthquakes. Many insurance policies do not cover losses resulting from an 'Act of God'

A person appointed by a probate court to administer the estate of a person who died intestate (without a will). 'Administratrix' is the feminine form

A feature of real property that enhances its attractiveness and increases the occupant's or user's satisfaction although the feature is not essential to the property's use, e.g. scenic views, proximity to public transport or recreational facilities.

To repay a mortgage with regular payments that cover both principal and interest.

An amount paid yearly or at regular intervals, often on a guaranteed dollar basis.

An increase in the value of a property due to changes in market conditions or supply and demand, etc.

A decorative moulding around doors or windows

The listed price of the property but may not always be the selling price. The owner may be willing to negotiate

The valuation placed on a property for the purposes of taxation by an authority.

Anything of monetary value that is owned by a person, e.g. personal property, real property, bank accounts.

The transfer of a mortgage from one person to another.

A public sale of a property or real estate that is sold to the highest bidder.