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Greater Sudbury Selling Terms Dictionary
This plain-language guide explains the pricing, listing, marketing, offer, disclosure and closing terms Greater Sudbury homeowners encounter when selling real estate in Ontario. Start with the term you heard, then open the local example when you want to see how it may sound in an actual conversation.
Results update as you type. A term may appear in more than one Dictionary section with a definition tailored to that decision.
Showing all 82 terms.
Open a colour-coded group for direct links, use the A–Z index, or use your browser’s Find command. Definitions remain visible; Greater Sudbury examples and related links expand when useful.
Plain-language definition: Additional pages attached to the APS (or listing agreement) that add, clarify, or change terms beyond the standard form. This is where you’ll often see details about inclusions/exclusions, special conditions, or unique property situations.
A seller in Valley East includes a schedule outlining exactly which appliances are included, plus a clause about a rented hot water tank so there’s no confusion later.
Plain-language definition: Adjustments are calculations made by the lawyers on closing to fairly split certain costs between buyer and seller, such as property taxes, condo fees, or fuel oil. The Statement of Adjustments shows how you arrive at the final amount the buyer must bring on closing.
A Minnow Lake seller has already paid property taxes to the end of the year. On closing, the buyer reimburses the seller for the portion of taxes covering the time after closing.
Plain-language definition: A legally binding contract that sets out the terms under which a buyer agrees to purchase a property and a seller agrees to sell. In most residential transactions in Ontario, a standard OREA form is used, with schedules and clauses added or removed to fit the situation.
A seller in New Sudbury accepts an offer on their home. Once both sides sign the APS, everyone works from that document for conditions, closing date, included items, and adjustments.
Plain-language definition: A document used after an Agreement of Purchase and Sale has been accepted to change specific terms — for example, the closing date, the purchase price, or included items. All parties must agree and sign.
A South End seller agrees to push the closing back two weeks to help the buyer line up movers. Their REALTORS® prepare an amendment to update the closing date in the APS.
Plain-language definition: A marketing or contract expression indicating that the seller is not promising repairs or improvements. It does not permit a seller or registrant to mislead a buyer or avoid disclosure required by the facts and law.
An estate sale in Copper Cliff is listed “as-is, where-is” because the family has limited knowledge of the home and does not plan to do repairs. Buyers can still inspect the home and make conditional offers.
Plain-language definition: The price at which a property is listed for sale on MLS® and marketing. It is set by the seller, in consultation with their REALTOR®, and may be positioned below, at, or above the expected market value depending on strategy.
A Valley East bungalow is expected to sell around $550,000. The sellers decide, with their agent, to set an asking price of $499,900 to encourage strong activity and potential multiple offers.
Plain-language definition: When one party doesn’t do what the signed APS requires. For sellers, the big worry is usually a buyer not closing on time (or at all) after the deal is firm.
A buyer goes firm on a home in South End and then can’t secure funds by closing. That can trigger a breach, and the seller should get legal advice immediately.
Plain-language definition: Short-term financing that lets a seller buy their next home before receiving the sale proceeds from their current home. The lender typically requires a firm sale on the existing property before advancing bridge funds.
A family selling in Garson needs to close on their South End purchase two weeks earlier. Their lender sets up bridge financing so they can pay for the new home before their Garson sale closes.
Plain-language definition: An offer submitted before a scheduled offer-presentation date. Whether it will be considered depends on the seller’s written direction and the way the listing brokerage must handle and communicate offers under current Ontario rules.
A New Sudbury home has an offer date next Tuesday. On Friday, a buyer submits a strong pre-emptive offer with a short irrevocable, forcing the sellers to decide whether to review early or stick to the original plan.
Plain-language definition: Conditions included in the offer to protect the buyer, such as financing, home inspection, or review of a status certificate (for condos). The seller can negotiate these terms but should not interfere with the buyer’s ability to satisfy them.
A buyer offering on a semi-detached in Chelmsford includes conditions for financing and home inspection. The seller accepts, understanding the deal is conditional until those conditions are fulfilled or waived.
Plain-language definition: When you sign a listing agreement with a brokerage, you’re a client and the brokerage owes you duties tied to representation. A self-represented party is someone who is not represented by a brokerage in that transaction. (In plain English: if someone “doesn’t have an agent,” they’re self-represented.)
A seller in Minnow Lake is a client of their listing brokerage. A buyer comes directly without representation and is treated as self-represented — meaning the listing brokerage cannot “advocate” for them the way it does for its client.
Plain-language definition: The expenses a seller pays on closing, such as legal fees, adjustments (taxes, fuel, condo fees), potential mortgage penalties, and any agreed credits or repairs. Your lawyer can give you a detailed estimate for your situation.
A seller in Valley East reviews their lawyer’s estimate showing legal fees, a small prepayment penalty on their mortgage, and tax adjustments, so they know their approximate net proceeds before closing.
Plain-language definition: The date on which legal ownership transfers from the seller to the buyer, the balance of the purchase price is paid, and keys are released. Possession usually occurs on the same day, unless otherwise agreed.
A condo seller in Downtown Sudbury agrees to a July 30th closing, giving them time to move into a new place in Minnow Lake the same weekend.
Plain-language definition: Compensation payable to a brokerage for agreed real estate services. The amount, method of calculation, HST and any offer of remuneration to another brokerage must be understood from the written agreement; commission is negotiable and not set by law.
A seller in Azilda agrees to a total commission of 5% plus HST in their listing agreement. The listing brokerage offers a portion of that to the cooperating brokerage that brings the buyer.
Plain-language definition: A report prepared by a REALTOR® that looks at recent sales, active listings, and market trends for similar properties. It helps estimate a realistic range for what your home could sell for in the current market.
Before listing their South End family home, sellers review a CMA showing recent sales of similar four-bedroom homes near good schools, helping them choose a pricing strategy.
Plain-language definition: An accepted offer containing one or more conditions that must be dealt with according to their wording and deadlines. The legal effect depends on the actual clause; conditions are not interchangeable.
A buyer offers on a Minnow Lake home with conditions for financing and inspection. The seller accepts, understanding the offer becomes firm only if those conditions are fulfilled or waived by the deadlines.
Plain-language definition: A response to an offer where the seller changes one or more terms (such as price, closing, or inclusions) and signs back to the buyer. The original offer is rejected once a counter offer is made.
A buyer offers $580,000 on a Valley East home listed at $599,900. The seller signs back at $595,000 with the same closing date, creating a counter offer for the buyer to consider.
Plain-language definition: The number of days a listing has been active before it sells, is suspended, expires, is terminated, or is withdrawn. DOM is one of many data points — it doesn’t automatically mean something is “wrong” with a home, but it does shape buyer perception.
A property in New Sudbury shows 38 DOM. Buyers start asking if the price is high or if the home has a condition issue, so the seller reviews pricing and presentation with their REALTOR®.
Plain-language definition: Failing to meet a key obligation under the signed APS. In day-to-day real estate language, sellers often say “the buyer defaulted” if the buyer fails to close on the agreed date.
A deal on a home in Valley East is firm, but the buyer doesn’t have funds ready on closing day. That is treated as a default and the seller should follow their lawyer’s advice right away.
Plain-language definition: Money paid by the buyer as a sign of good faith, usually within 24 hours of offer acceptance unless otherwise stated. The deposit is held in a trust account and forms part of the buyer’s down payment on closing.
A buyer in Onaping–Levack delivers a $20,000 deposit to the listing brokerage’s trust account after their offer is accepted on a country property.
Plain-language definition: A TRESA structure where different individuals within the same brokerage may be designated to represent different clients in the same transaction. It’s designed to reduce conflicts, but the brokerage still has strict rules about confidentiality and fairness.
A buyer interested in a New Sudbury listing is already working with someone at the same brokerage. With proper paperwork and consent (where required), a different designated representative may handle each side with clear boundaries.
Plain-language definition: A seller’s obligation to be honest about known material facts, including certain defects that may be dangerous or make the property unfit for ordinary use. The exact disclosure required depends on the facts and the law; your lawyer can advise.
A seller in Gatchell is aware of a past foundation repair. They discuss it with their REALTOR® and lawyer, and ensure buyers are informed through the listing remarks and supporting documents.
Plain-language definition: A legal right for someone else to use part of your property for a specific purpose, such as utilities or shared driveways. Easements are usually registered on title.
A West End property has an easement that allows the neighbour to access their backyard along a narrow laneway. The easement shows up in the title search when the home is sold.
Plain-language definition: A listing where the property is marketed by one brokerage without being placed on the local MLS® system. The terms are set out in an exclusive listing agreement.
A seller with a luxury property on Ramsey Lake chooses an exclusive listing for a short period before going to MLS®, so the home can be quietly marketed to a targeted group of buyers first.
Plain-language definition: Canadian law requires brokerages to verify the identity of clients and collect certain information for anti-money-laundering compliance. Sellers will be asked for identification and basic information as part of this process.
Before listing a property in Valley East, the listing brokerage meets with the seller, reviews ID, and completes required FINTRAC forms as part of the onboarding process.
Plain-language definition: An offer with no conditions, or an accepted agreement after its conditions have been validly fulfilled or waived. A firm agreement generally binds both parties, subject to its wording and legal advice.
After the buyer’s financing and inspection conditions are fulfilled on a home in Hanmer, the offer becomes firm and everyone prepares for closing.
Plain-language definition: Fixtures are items attached to the property (for example, built-in shelving or a hard-wired light fixture) and are typically included in the sale unless specifically excluded. Chattels are movable items (for example, a fridge or patio furniture) and are typically excluded unless specifically included in the agreement.
A seller in New Sudbury wants to keep a favourite dining room light fixture. Their REALTOR® writes it as an exclusion in the listing and agreement so buyers understand it is not included.
Plain-language definition: In Ontario, HST is payable on real estate commission. When sellers review their closing statement, commission is usually shown plus HST, which affects their net proceeds.
A seller in Minnow Lake sees that the total commission on their statement of adjustments includes HST, helping them understand the difference between gross sale price and net in their pocket.
Plain-language definition: A period of time after a listing agreement expires during which the seller may still owe commission if the property sells to a buyer who was introduced to the property during the listing term. The length and details are set out in the listing agreement.
A home in Chelmsford does not sell during the initial listing period. Two weeks after it expires, a buyer who first saw it at an earlier open house submits a private offer. The holdover clause in the original listing agreement may still entitle the brokerage to commission. The seller’s lawyer explains how the clause applies.
Plain-language definition: A visual examination of a property’s major systems and components by a home inspector. Sellers sometimes complete a pre-listing inspection to understand potential issues and share the report with buyers.
Before listing their Valley East home, sellers order a pre-listing inspection to identify repairs and give buyers more confidence when reviewing the property on offer night.
Plain-language definition: Preparing a home to show its best by improving layout, decluttering, and using furniture and décor to highlight the property’s strengths. Staging may range from light styling to full furniture packages.
A Minnow Lake seller removes oversized furniture, freshens paint, and works with a stager to make rooms feel larger and brighter before photographs and showings.
Plain-language definition: The deadline written into an offer or counter offer stating how long it is open for acceptance. After the irrevocable time passes, the offer expires unless the buyer re-submits or extends it.
A buyer offering on a South End home gives the sellers until 9:00 p.m. that evening to respond. If the sellers have not signed back or accepted by the irrevocable, the offer expires.
Plain-language definition: A defect that is not discoverable through a reasonable ordinary inspection. Disclosure obligations depend on the facts, including what is known, whether the defect is dangerous or makes the property unfit for habitation, and whether statements made would otherwise be misleading.
A seller in Gatchell knows of a hidden structural issue behind a finished basement wall. They raise it with their REALTOR® and lawyer so buyers receive proper disclosure.
Plain-language definition: A representation agreement between a seller and a brokerage setting out services, commission, list price, duration, holdover period, and how the property will be marketed. Under TRESA, it confirms the brokerage’s obligations when representing the seller as a client.
A New Sudbury seller reviews their listing agreement in detail with their REALTOR®, including services, commission, how showings will work, and how long the agreement lasts.
Plain-language definition: A secure box, often attached near the front door, that stores the property’s keys for showings. Access is controlled by the listing brokerage to registered REALTORS®.
A seller in Valley East approves a lockbox so buyer agents can access keys for scheduled showings while the seller is at work.
Plain-language definition: Marketing a property on the local Multiple Listing Service® system so it is visible to REALTORS® and their clients across the region. MLS® exposure often includes syndication to public websites such as REALTOR.ca.
A seller in Downtown Sudbury lists their condo on MLS® so it reaches buyers working with other brokerages and appears in automated searches, increasing the pool of potential buyers.
Plain-language definition: An estimate of the price a willing buyer and willing seller would likely agree to, under normal conditions, in the current market. It is informed by comparable sales, active listings, and local market trends.
Recent sales of similar homes in New Sudbury show a range between $575,000 and $610,000. That information helps set expectations for the likely market value of a new listing on a nearby street.
Plain-language definition: A fact that would affect a reasonable person’s decision to acquire or dispose of an interest in real estate. Ontario registrants have specific duties to determine and disclose material facts in accordance with TRESA and its regulations.
A known issue with a septic system at a rural property outside Hanmer would likely be considered a material fact. Sellers should discuss such issues with their REALTOR® and lawyer.
Plain-language definition: A payout statement from the lender shows the amount required to repay the seller’s mortgage on closing, which may include principal, interest, administrative charges and any applicable prepayment penalty. The seller’s lawyer normally pays the lender from the sale proceeds and arranges for the mortgage to be discharged from title.
Before closing a sale in Lively, the seller’s lawyer obtains an updated payout statement, pays the mortgage from the closing funds and follows through on registering the discharge.
Plain-language definition: A situation where more than one buyer submits an offer on a property at the same time. Under TRESA, sellers can choose how much information about competing offers is shared with other buyers, within legal and regulatory limits.
A well-priced South End home receives five offers on offer night. The sellers review price, conditions, timing, and strength of each buyer with guidance from their REALTOR®.
Plain-language definition: A situation that arises under brokerage representation when the brokerage represents more than one client with competing interests in the same trade, or under designated representation when the same designated representative represents competing clients. It requires the written disclosures, acknowledgements and consents prescribed by Ontario law and restricts the advice and advocacy that can be provided.
A New Sudbury seller and an interested buyer are both clients under brokerage representation with the same brokerage. Before taking further steps, the brokerage explains the specific multiple-representation situation, the reduced services and the available alternatives, and proceeds only if the required written consents are obtained.
Plain-language definition: A document signed by buyer and seller (and typically the brokerages) that ends the agreement and gives clear instructions on what happens to the deposit. Without a release (or court direction), deposits are often held in trust.
A conditional deal on a condo in Downtown Sudbury fails because the status certificate review doesn’t meet the buyer’s comfort level. The parties sign a mutual release so the deposit can be returned properly.
Plain-language definition: The approximate amount a seller expects to receive after paying off their mortgage(s), commission, closing costs, and any agreed credits or adjustments. Your lawyer and lender can provide more precise figures.
A Minnow Lake seller reviews a net sheet showing their expected sale price, less mortgage payout, commission plus HST, and estimated legal fees, so they know roughly what will be left to put toward their next purchase.
Plain-language definition: A notice used to confirm that a condition in an agreement has been fulfilled. Once all conditions are properly fulfilled or waived, the agreement becomes firm.
After financing is approved for a condo purchase in Downtown Sudbury, the buyer’s agent delivers a signed NOF for the financing condition to the listing brokerage.
Plain-language definition: A notice used to remove a condition, where a party chooses to proceed without insisting on strict fulfillment of that condition. Waiver has legal implications; parties should review it with their lawyer.
A buyer on a South End home is satisfied with their informal inspection and chooses to waive the formal inspection condition using a Notice of Waiver. The agreement then becomes firm.
Plain-language definition: A date set by the seller, often through a Seller’s Direction re: Offers, indicating when they prefer to review offers. In everyday conversation, people call this “offer night.” Sellers may still choose to consider early offers depending on their direction and advice.
A New Sudbury listing goes live on Thursday with an offer date the following Monday evening, giving buyers time to view the home and arrange inspections before offering.
Plain-language definition: A set period when a property is open for unaccompanied or accompanied public viewing, usually hosted by the listing brokerage. Open houses are one of several tools used to expose a listing to potential buyers.
A Valley East listing has back-to-back weekend open houses to catch both local buyers and people coming into town to view properties.
Plain-language definition: The date the buyer takes possession of the property. In most Ontario residential transactions, this is the same as the closing date unless otherwise agreed in writing.
A seller in Garson hands over keys to their buyer on closing day once the lawyer confirms funds have been received and the property has been transferred.
Plain-language definition: A final viewing of the property by the buyer shortly before closing to confirm that it is in substantially the same condition as when they agreed to purchase, subject to any agreed repairs.
Two days before closing on a home in Valley East, the buyers complete a walkthrough to confirm that agreed repairs are done and that no new damage has occurred.
Plain-language definition: A charge that may apply when a mortgage is repaid before the end of its term, including when a property is sold. The amount depends on the mortgage contract and lender and can materially affect the seller’s net proceeds. Sellers should request a current written payout estimate from their lender.
A New Sudbury seller has eighteen months remaining on a closed mortgage. Before finalizing a sale plan, they ask the lender for a payout estimate so the potential penalty can be included in the net-proceeds calculation.
Plain-language definition: The collection of information and preparation steps taken before a home hits the market, often including staging, photography, pre-listing inspection, and key documents.
A South End family spends a week decluttering, touching up paint, and completing minor repairs, then schedules professional photos and video as part of their pre-listing package.
Plain-language definition: The approach used to set the list price relative to market value. Strategies may include pricing below likely value to encourage multiple offers, pricing at market value, or pricing above and inviting negotiation.
In a balanced market, a seller in New Sudbury chooses to list close to the expected sale price based on recent comparables, rather than holding offers below market value.
Plain-language definition: A mandatory consumer information guide from the Real Estate Council of Ontario (RECO) that an Ontario agent or brokerage must provide and explain before offering services or assistance. It explains representation, self-representation, multiple representation and important consumer rights and responsibilities.
Before signing a listing agreement on a Minnow Lake home, the salesperson reviews the RECO Information Guide with the sellers and answers their questions.
Plain-language definition: An agreement that sets out the obligations of a brokerage and its designated representatives when acting for a seller or buyer as a client under TRESA. For sellers, the listing agreement is a type of representation agreement.
A Valley East seller signs a representation agreement confirming that the brokerage will act in their best interests, keep certain information confidential, and disclose material facts related to the property.
Plain-language definition: An optional seller-completed questionnaire about a property. It is not universally required in Ontario, but statements made in it must be honest and accurate; sellers should obtain legal advice before completing one when unsure.
A seller in New Sudbury is asked, “Do you have an SPIS?” They decide to provide one for clarity, but they leave unknown items blank and rely on documents/receipts where possible.
Plain-language definition: A form a seller signs to direct how and when offers are to be handled, such as requesting that offers be held to a specific date, or directing whether pre-emptive (bully) offers will be considered.
A South End seller signs a Seller’s Direction stating that they will not review any offers before Monday at 6:00 p.m., giving buyers time to see the home properly.
Plain-language definition: The rules and expectations set by the seller and listing brokerage for how showings are booked and conducted, including notice required, showing times, and any special requests (such as removing shoes or not using certain rooms).
A family in Valley East asks for one hour’s notice for weekday showings and no showings after 8:00 p.m. due to small children.
Plain-language definition: A document that provides detailed information about a condominium corporation, including budgets, rules, reserve fund, and any legal issues. Buyers and their lawyers rely on the status certificate when considering a condo purchase.
A condo seller in Downtown Sudbury agrees to obtain and provide a recent status certificate so buyers can review it during their conditional period.
Plain-language definition: A property that may be affected by perception rather than a physical defect (for example, a widely known event). In Ontario, “stigma” isn’t automatically treated the same as a structural defect. What matters is being honest and not misleading, and handling direct questions properly. When in doubt, speak with your REALTOR® and lawyer.
A seller hears buyers asking questions about a rumour tied to a home in West End . The seller seeks legal advice on how to respond and ensures marketing is accurate and not misleading.
Plain-language definition: Ontario’s Trust in Real Estate Services Act, 2002 and its regulations, which govern registered brokerages, brokers and salespersons, including conduct, representation agreements, disclosures and offer handling.
A seller in New Sudbury reviews the RECO Information Guide and learns how TRESA protects them when working with a brokerage, including duties related to confidentiality and disclosure of material facts.
Plain-language definition: “Title” is the legal ownership record of the property. In a typical Ontario sale, the seller agrees to provide title that meets the APS requirements (often described as “good and marketable” title), subject to permitted registrations like standard utility easements.
A home in Azilda has a registered utility easement. That doesn’t usually stop a sale, but it will appear on title and is reviewed by the lawyers.
Plain-language definition: An insurance policy that protects the insured (usually the buyer and/or their lender) against certain title-related issues, such as some forms of fraud, survey errors, or unknown encroachments, subject to the policy terms.
A buyer of a home in Onaping–Levack obtains title insurance as part of their closing costs, in addition to the lawyer’s title search.
Plain-language definition: A review of the property’s ownership, registered mortgages, easements, and other interests on title, usually conducted by the buyer’s lawyer before closing.
During the sale of a home in Azilda, the buyer’s lawyer’s title search reveals a utility easement that has long allowed access to a rear laneway.
Plain-language definition: A regulated account where deposit funds are held by a brokerage in trust until completion or release (often via mutual release or court direction if there’s a dispute).
A buyer provides a deposit for a Minnow Lake purchase, and the funds sit in the brokerage trust account until closing day when they are applied to the transaction.
Plain-language definition: Another way of describing a firm offer — one with no conditions. Once accepted, it binds the parties to complete the transaction, subject to the terms of the agreement and legal advice.
On a competitive listing in South End, the winning buyer submits an unconditional offer with a strong deposit and flexible closing date.
Plain-language definition: Promises exchanged between lawyers on closing (for example, that an existing mortgage will be paid out and discharged after the seller receives the sale proceeds). Undertakings are part of how closings run smoothly in Ontario.
On a closing for a home in South End, the seller’s lawyer undertakes to pay out the mortgage and register the discharge once funds are received.
Plain-language definition: The property will be delivered empty of occupants and cleared of the seller’s belongings (except included items) on closing, unless the APS says otherwise (for example, a tenanted property being assumed by the buyer).
A seller in New Sudbury plans a move-out schedule so the home is fully emptied by closing day, ensuring the buyer receives vacant possession as agreed.
Plain-language definition: A financing arrangement where the seller lends a portion of the purchase price to the buyer and takes back a mortgage on the property. VTBs are less common for typical residential sales and should be structured with legal and financial advice.
An owner of a mixed-use property just outside Downtown Sudbury agrees to a small vendor take-back mortgage to help a buyer complete the purchase, on terms reviewed by both of their lawyers.
Plain-language definition: A listing that is removed from the market. People use a lot of casual language here (“we cancelled,” “we pulled it,” “we took it off MLS”). The reason matters: some sellers pause to adjust pricing or timing, others terminate the listing agreement and move on. Your REALTOR® will explain what applies based on your listing agreement and the local MLS status options.
A seller in Chelmsford withdraws their listing for a few weeks to complete repairs and re-stage, then returns to market with stronger photos and a tighter pricing strategy.
These additions fill the most useful gaps without pretending one definition fits every decision. Each term is tailored to this page and links to its other relevant Dictionary contexts. Confirm time-sensitive rules with RECO seller information.
Plain-language definition: A representation model in which the brokerage and its agents represent the seller under the written listing agreement.
The seller should understand who can act for them, how confidential information is handled and what happens if another brokerage client is interested.
Plain-language definition: The compensation or benefit payable to the brokerage under the listing agreement, including the stated amount or calculation method and applicable HST.
Review when it is earned, any protection period, cooperating-brokerage arrangements and obligations that may continue after termination.
Plain-language definition: A seller-directed offer process in which specified content from competing offers may be shared as Ontario rules permit.
The seller decides whether to use the process with advice from the listing brokerage and gives clear written direction about what may be shared.
Plain-language definition: The number of written offers the listing brokerage has received at the relevant time, disclosed without prices or terms unless a separate lawful sharing process applies.
Counts can change; the seller should keep instructions current and avoid language that could mislead buyers.
Plain-language definition: Sharing specified terms or content from an offer with other potential buyers under the seller's written direction and Ontario's rules.
The seller should understand how the process will be communicated, revised or stopped and what information must remain protected.
Plain-language definition: The listing-agreement terms explaining expiry, cancellation, release, notice and obligations that may survive the end of active representation.
A seller should review protection-period and remuneration language before assuming a listing can be ended without continuing consequences.
Plain-language definition: An extra condominium charge approved to cover costs not met by the operating budget or reserve fund.
A condo seller should gather notices and status-certificate information early because an assessment can affect disclosure, adjustments and buyer decisions.
Plain-language definition: An amount the condominium corporation charges back to a unit owner for specified costs, subject to the declaration, by-laws, rules and Condominium Act framework.
Resolve or disclose known chargebacks with the lawyer because they may affect the status certificate and closing adjustments.
Plain-language definition: The unit owner's share of condominium corporation expenses, commonly paid as monthly condo fees and allocated under the declaration.
The seller and lawyer use current fees for marketing accuracy and the statement of adjustments.
Plain-language definition: The regulated amount a condominium corporation may charge to prepare a status certificate, subject to current Ontario rules and any permitted delivery charges.
Clarify who is ordering and paying, and allow enough time for delivery and legal review.
Plain-language definition: The land-registration description of the property being sold, distinct from its street address.
The lawyer confirms it against title; marketing should not overstate land that the registered description or survey does not include.
Plain-language definition: The Ontario land-registration number assigned to the parcel being sold.
The lawyer uses the PIN and parcel register to confirm the owner and registered interests before closing.
Plain-language definition: An economic or equitable interest in property that may differ from the name shown as registered owner on title.
Trust, estate, corporate or family arrangements should be raised with the lawyer early so authority to sell and tax consequences can be addressed.
Keep exploring
These pages connect the terminology to the decisions, preparation and professional conversations behind a Greater Sudbury sale. For another topic, return to the complete Real Estate Dictionary.
See the complete process for preparing, marketing, negotiating and closing a Greater Sudbury sale. Explore the Seller Experience
Learn how local evidence, property characteristics and current competition inform a pricing discussion. Explore Home Valuation
Review RECO, TRESA, representation and consumer-protection information. Read Ontario Laws & Consumer Rights
Check zoning, lot, access, servicing, rural and waterfront definitions. Browse Property, Land & Zoning Terms