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Clarification of Real Estate terms From Page 4 for the occupation or use of the landlord's property by the tenant for a specified time and for a specified consideration. Lien - A right, given to a creditor and creating an in- terest in the real property until the debt is discharged. Listing - An oral or writ- ten agreement between a property owner and a broker authorizing the broker to offer the owner's real property for sale or lease. Mortgage - The con- veyance of property to a creditor as security for pay- ment of a debt, with a right of redemption upon pay- ment of the debt. Mortgagee - The one to whom property is conveyed as security for the payment of a debt; ie. the lender or creditor. Mortgagor - The one who makes the mortgage ie. the borrower or debtor. Multiple Listing - An ar- rangement among brokers, usually real estate board members, whereby each broker presents his listings to the other members, who may negotiate the transaction. Power of Attorney - Delegated written authority to a person allowing that that person to act on behalf of another. Principal - The employer of an agent or broker, who gives the agent or broker the authority to do some act for him or her. In real estate, usually the owner of a property. Real Estate - "Real Estate' includes real pro- perty, leasehold and business whether with or without premises, fixtures, stock-in-trade, goods or chattels in connection with the operations of the business. (Real Estate and Business Brokers Act). Real Estate Broker - A person who represents a principal or owner in a real estate trade. Realtor - A registered word which may only be us- ed by an active member of a real estate board affiliated with the Canadian Real Estate Association. Salesperson - An employee of a broker authorized to trade in real Century GERRY MEHARG LTD. Aember Broker ~ 647 SCUGOG STREET, PORT PERRY 985-7371 Stouffville ... 640-3131 / 473-1979 Uxbridge .... 852-6106 / 640-2600 estate (as defined within the Ontario Real Estate and Business Brokers Act). Also can be referred to as a Sales Representative. This article is provided by the Ontario Real Estate Association (OREA) for the benefit of consumers in the real estate market. of new or existing homes! We can offer you great CARPET VALUES! Come to us for a free estimate and compare our total cost in- cluding underpad and in- stallation, combined with our fast, courteous service. HOMESTEAD sone 985-2451 W. FRANK REAL ESTATE ) LIMITED SAT., OCTOBER 20th - 11:30 to 1:00 DIRECTIONS: Durham Rd. 57 to Conc. 2, east 5 miles, follow signs. Your hostess, Bonnie Steele 985-7386 SAT., OCTOBER 20th - 2 to 4 PM DIRECTIONS: Follow Durham Road 2 North of Port Perry to Sonya, follow signs. Your hostess, Bonnie Steele 985-7386 $75,000 BUY IT NOW! One acre - lots of trees - pond - permits avail. - S. E. of Manilla - call Mary Wilson bus. 985-7371 or 985-2235 res. . $87,250 MATURE BUILDING LOT in the village of Cresswell 132' x 330". Permits available, asking $87,250. Call John Vernon bus. 985-7371 or res. 985-2806. GETTING BETTER ALL THE TIME! New addition creates extra space. Quali- - ty workmanship makes this home almost new. Call today for a list of features too numerous: to mention. Anita Whitworth bus. 985-7371 res. 985-4193. >= 5) 1% ACRES BLACKWATER 3 bedroom home with barn with 3 box stalls, nice paddock. Area a nice place to live and raise your livestock, asking $157,500. Call John Vernon bus. 985-7371 res. 985-2806. WASHBURN ISLAND Neat and tidy 3 bedroom bungalow with walkout to private backyard. Fully in- sulated basement, main floor laundry, 2 baths. 20 min. to Port Perry. Asking $164,900. Call John Vernon bus. 985-7371 res. 985-2806. COUNTRY PRIVACY 3 plus bdrm. brick bung. on 2 acre - fin. rec. rm. with f/p - darkroom for camera buff - hardwood floors - huge living room - Hollywood kit - lot backs onto maple bush - Call Catherine Ayotte bus. 985-7371 res. 985-8024. PEARL DRIVE -- GREENBANK 3 bdrm. all brick bung. - eat-in kit - lots of upgrades - att. gar. - basement ready for your talents - all on half acre lot - to view call Catherine Ayotte bus. 985-7371 res. 985-8024. NEED A WORKSHOP?? You must see this one. 3 bdrm bungalow on double lot. Workshop has 200 amp. service. Home is immaculate. Call Anita Whitworth bus. 985-7371 res. 985-4193. BALL POINT Lake Scugog 20 mins. from Port Perry. Main flr. laund., f/p in livingroom, w/o from separate din. rm. to private backyard. Call John Vernon bus. 985-7371 res. 985-2806. BIG ENOUGH FOR TWO!! Two kitchens - two livingrooms - two baths - 3 bdrms. up and 1 down - two entrances - priv. lot in desirable area of town - walk to all amenities - Call Catherine Ayotte bus. 985-7371 res. 985-8024. WATERFRONT LIVING!! GREAT BUY 3 plus 1 bdrm. beautiful home with two fplces, large living area w/walkout to sun- porch, rec. room, and inground pool. Call Ramona Reesor bus. 985-7371 res. 985-3383. UNIQUE BUNGALOW! On 1 acre in Village of Seagrave. Extras including sunken living room, 2 skylights and a jacuzzi tub. For an appt. Call Carolyn Wilbur bus. 985-7371 res. 985-4867. LOOK NOW!! LAKESIDE LIVING Immaculate 3 plus 1 bdrm. home with fin. rec. room & fplace, 3 walkouts to 50" deck- "ing overlooking lake, incredible inhouse workshop, hot tub and more. Call Ramona Reesor 985-7371 bus. or res. 985-3383. CENTURY HOME 3 bedroom, 2 storey home in downtown Port Perry. Hardwood floors, main floor family. Call now for an appointment. Carolyn Wilbur, bus. 985-7371, res. 985-4867. REDUCED!! REDUCED!! DON'T WAIT Immaculate restored Century Home on 73 acres - 60 acres workable, 2 pond sites, bank barn, and incredible drive shed with many possibilities. Ramona Reesor bus. 985-7371 res. 985-3383. OVER HILL AND DALE Charming Century home with country acreage nestled amongst gently rolling hills. A view from every window. Home features spa room - Anita Whitworth bus. 985-7371 res. 985-4193. CAWKER'S COVE -- CUSTOM BUILT 3 bdrm - 2 plus ensuite bath - large eat in kit - formal dining rm - high eff. heating with air and cleaner - m/f fam & laund - w/0 to deck - to view call Catherine Ayotte bus. 985-7371 res 985-8024. MACKENZIE MANOR - KIRKFIELD Bed & breakfast, antique & gift shop in an approx. 17,000 sq. ft. home on 12 acres Fabulous historic site with many possibilities. For more details call Ramona Reesor bus 985-7371 res. 985-3383 Thinking of Buying or Selling ... For a Free Evaluation contact our office. Lloyd Slute ..................... 655-3989 Mary Wilson ................... 985-2235 Carolyn Wilbur ............... 985-4867 Catherine Ayotte ......... . 985-8024 Ramona Reesor .............. 985-3383 Anita Whitworth ............. 985-4193 Greg McCormack .. (705) 953-9089 Judi Hewitt ................... 985-4015 John Vernon .................. 985-2806 Ray Anthony ................... 985-0508 AAREAR AT a 2h Any PE ET SE SPE ) ) | !