Toronto Real Estate Acronyms

Toronto Real Estate Acronyms

Acronyms, every industry has them and if you are not involved in real estate on a regular basis, it’s hard to know what many of them mean. Below is a list of common acronyms you may come across when buying or selling a home in Toronto.

A/C – Air Conditioning

APR – Annual Percentage Rate

BSMT – Basement

DTI – Debt To Income ratio

CMA – Comparative Market Analysis

CREA – Canadian Real Estate Association

DOM – Days On Market

FINTRAC – Financial Transactions and Reports Analysis Centre

FIN W/O – Finished Walk Out Basement

HELOC – Home Equity Line of Credit

HST – Harmonized Sales Tax

HVAC – Heating Ventilation Air Conditioning

HVR – Heat Recovery Ventilator

LL – Lower Level

LRO – Land Registry Office

LT – Land Titles

LTV – Loan To Value ratio

MPAC – Municipal Property Assessment Corporation

OH – Open House

OREA – Ontario Real Estate Association

PC – Price Change

PCMLTFA – Proceeds of Crime (Money Laundering) and Terrorist Financing Act

PC – Price Change

PITI – Principal, Interest, Taxes and Insurance

PMI – Private Mortgage Insurance

PST – Provincial Sales Tax

RECO – Real Estate Council of Ontario

RM – Room

REMIC – Real Estate and Mortgage Institute of Canada

SC – Sold Conditional

SO – Sam Obeid

SPIS – Seller property Information Statement

SFH – Single Family Home

SFR – Single Family Residential

TRREB – Toronto Regional Real Estate Board

UFFI – Urea formaldehyde foam insulation

VC – Void Cheque

VTB – Vendor Take Back Mortgage

WETT – Wood Energy Technology Transfer

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