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rr i ---------- +" vir lp in. Wnt ltt) iat m-- i --t------ From Page 1 act, or it may be negative or restrictive, forbidding the commission of some act. Encumbrance: Outstan- ding claim or lien recorded against property or any legal right to use of the pro- perty by another person who is not the owner. Equity: The interest an owner of real property has in its total assets after allowing for encumbrances and creditors' claims. Express Authority: Authority delegated by the « REM An intermational network principal which clearly sets forth in exact, plain, direct and well-defined limits those acts and duties which the agent is empowered to perform on behalf of the principal. Foreclosure: Remedial court action taken by a mor- tgagee when default occurs on a mortgage, to cause forfeiture of the equity of redemption of the mortgagor. GDS Ratio: Gross Debt Service Ratio. Lender's allowable ratio of gross monthly payment to gross of dependent member brokers 'Chances are we're going monthly income of mor- tgage applicant. Irrevocable: Incapable of being recalled or revoked; unchangeable, unalterable. Lien: A right, given to a creditor, creating an in- terest in the real property until the debt is discharged. Listing Agreement: An oral or written agreement between a property owner and a broker authorizing the broker to offer the owner's real property for sale or lease. Mechanics' Lien (Con- struction Lien): A claim fil- ed in the land registry office by an individual, or com- pany, for labor or material, or both, supplied for the im- provement of the property. Multiple Listing Service (MLS): An arrangement amongst brokers who are real estate board members, whereby each broker shares information regar- ding his listings with the other members, who may negotiate the transaction. Open Listing: A listing given to any number of brokers without liability to compensate any except the RE/MAX scugog realty iimited 144 QUEEN STREET, PORT PERRY independen* member troker one who first acquires a buyer who is ready, willing and able to meet the terms of the listing, or secures the acceptance by the seller of a satisfactory offer; the sale of the property automatically terminates the listing. Power of Sale: The right of a mortgagee to force the sale of the property without judicial proceedings, if a default in payment occurs. Realtor: A real estate salesperson or broker who is a member of a real estate board affiliated with the Canadian Real Estate Association. Realtors subscribe to a strict Code of Ethics and only a Realtor has access to a Multiple Glossary of some common Real Estate terms Listing Service. Real Property: The com- bination of the tangible and intangible attributes of land and improvements. It is the sum of the value of the real estate, considered as land and structure. It is the real estate, plus the rights that go with it. Sub-agent: An agent authorized by the listing agent or broker to assist in transacting the affairs of the principal (with the ex- press or implied consent of the principal). This article is provided by local Realtors and the On- tario Real Estate Associa- tion (OREA) for the benefit of consumers in the real estate market. to sell your house. Why not call us first? 285-4427 184 OFFICES /R THROUGHOUT ONTARIO - LYNDA KENDRY Bus.: 985-7361 Res.: 985-9268 IDEAL STARTER HOME Close to lake, store, post of- fice in Caesarea. Appliances included in 3 bedroom BRENDA CASTEELS Res.: 986-5763 BUILDING LOT ig .aof New homes to \€Y. SCULOE. Permits available. $59 cBG. CLASSIFIED RATES WORD ADS: $7.50 first 15 words; 20¢ each word following. REPEAT: Second insertion discount ... $5.50 for the first 15 words; 20C each word following. PHOTOGRAPHS: Extra Charge. PROOF REQUIRED: Copy must be received no later than THURSDAY by NOON, prior to insertion. DISPLAY ADS: For rates and information call 985-7383. ALL ADVERTISING: Must be paid for in cash or by VISA before 11:00 A.M. on Monday. GST is applicable on all advertising and subscriptions. ~ DEADLINE for DISPLAY & CLASSIFIED ADVERTISING: MONDAYS at 11:00 A.M. DEADLINE for REAL ESTATES: THURSDAYS at 5:00 PM home on 47' x 110' lot with separate workshop/garage. Reduced to $115,000.00. DEADLINE for BUSINESS DIRECTORY: THURSDAYS at 5:00 PM (No Ad Copy changes after 10:00 A.M. on Mondays) Although every precaution 1s taken to avoid errors in all advertising. this newspaper sccepts advertising with the understanding that should an error occur 1t 1s hable only for the cost of that portion of the advertisement in which the error occured mm rela tion to the entire advertisement I an error should occur. it must be brought to vur attention before Yhe following publication ADRIENNE HANSEN ... LAKEFRONT - $259,900. While marketing this pro- perty, | talked to several qualified buyers looking for lakefront in every price range. If you are thinking of selling now or in the future, please call me for a con- fidential evaluation - no obligation. . 985-2829 DA (7 id Real Estate Limited, | _____ Real Estate Limited. Realtor J GRANT MORGAN ... Res. 985-4073 985-8041 - 41-139 QUEEN ST, UNIT 2, PORT PEF QUEEN ST., UNIT 2, PORT PERRY PORT PERRY - 4 PLEX Cochrane St., location, three 2 bdrms, one 1 bdrm. All in excellent condition. Lovely mature ravine lot 61' x 153', paved drive, large attached garage, tenants pay utilities, $31,200.00 gross income. Listed at $309,000.00 MARK PUCKRIN Res.: 705-357-3374 REDUCED TO SELL! 48 acres vacant land 20 km' north of Port Perry. Now $125,000.00. NEW TO THE MARKET - $189,900 - Apple Valley - 3 B.R. brick, eat-in kitchen with oak cupboards. Din- ing room with walkout to large deck. Beautiful decor throughout. A must to see! THREE PLEX - Excellent condition. 2-1 B.R. apts. plus 1-4 B.R. Cochrane St. Must be sold. Excellent investment. Listed to sell. Call today! MANCHESTER - Hwy. location for small business and home combined. Shop 30' x 20', insulated and heated. Brick home, 3 B.R., D.R., L.R., Office and much more. All for the list price of $163,900. See it today! ALL BRICK NEARLY NEW RESALE BUNGALOW - NO G.S.T.! - Dining room with walkout, beautiful oak kitchen. Choice of broadloom colour now. Lake access and community water. LISTED TO SELL. OWNER SAYS BRING AN OFFER. JUST SOLD! 3 bedroom, 2 bathroom, custom bungalow listed at $159,900. COMMERCIAL SPACE AVAILABLE for lease in downtown core, Port Perry. Contact Mark for details. SIDESPLIT ON 10 ACRES - 4 large bedrooms, din- ing room, eat-in kitchen, family room with fireplace, inground pool and deck, 2 car garage, 2 baths, 30' x 30' hobby or horse barn. REDUCED TO $289,900. Owner will consider any reasonable offer. BUYING OR SELLING? WANT RESULTS? Get your money's worth. Use an active full-time pro- fessional. I'm available 7 days a week, day and night. | can be reached at the above office # or Res. 705-357-3374. PORT PERRY - $179,000.00 4 bdrm. fomily nome close to all amenities. Imagine 2 full bathrooms, 2 fireplaces, built in apphances, 100' x 200' lot and much more. Call today for complete details. FOR FURTHER INFORMATION ON THESE PROPERTIES CALL: Marj Tripp 985-8041 or Res. 985-7606