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Glossary of Terms
Acre : An acre is the most commonly used measurement unit for property size
in British Columbia.
Unit Translation :
1 acre = 4840 sq. yards = 0.405 hectares = 4046.24 sq. metres = 43560 sq. feet
2.471 acres = 1 hectare = 10,000 sq. metres
640 acres = 1 sq. mile = 259 hectares = 2.59 sq. km
CRD : "Capital Regional District" - A level of provincial government in
Foreshore Lease : When you buy waterfront property, you only own up to the
high water mark. Everything from the high water mark on out is considered public domain.
However you can get a Foreshore Lease which would enable you to build a dock or have
a mooring buoy (Subject to other government approvals).
GPM : "Gallons per Minute" is an unit of measurement to gauge
flow rate from a water source such as a well.
Gallon Unit Translation :
1 British gallon = 4 quarts = 4.546 litres
1 American gallon = 4 quarts =3.785 litres
GST : "Goods & Services Tax" - The GST is a federal Value Added Tax (VAT)
currently at 5% which is applied to most goods and services in Canada.
HST : "Harmonized Sales Tax" - The HST is the GST plus a provincial Value Added Tax
that varies from province to province. In BC, the HST is set at 12% and applies to most
goods & services in BC. HST is payable on an real estate agent's commission.
Open Plan : This term applies to the kitchen or the dining room.
If a house is built with an open plan design, the kitchen and/or dining
room, along with the living room, is one large area with the individual
subareas defined by the placement of furniture and counters. In a Close
Plan Design the kitchen and/or dining room are separate rooms.
Pending : Offer has been made on property. Offer has been accepted. All
subjects have been removed. Awaiting closing date. Technically, the property is
not yet sold.
Semi-LakeFront : means that there is a public road between the main
house and the LakeFront.
Semi-OceanFront : means that there is a public road between the main
house and the OceanFront.
Semi-WaterFront : means that there is a public road between the main
house and the WaterFront.
Contact Li Read at Sea to Sky Premier Properties (Salt Spring), 4 - 105 Rainbow Road, Salt Spring Island, BC, V8K 2V5; Direct Tel: 1-250-537-7647