Eco Depot Inc. @ECDP_Properties

EcoDepot Properties, a subsidiary of Eco Depot Inc. develops and manages real estate assets, and acquires leases. eco-depotinc.com 21 Nelson St. Unit 205T, Toronto Ontario, M5V3H9 Joined March 2019

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Eco Depot Inc. @ECDP_Properties

5 years ago

Zoning Ordinance A law by a local governmental authority (e.g., city or county) that sets the parameters for which the property may be put to use.

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Eco Depot Inc. @ECDP_Properties

5 years ago

Percentage Lease A lease of property in which the rent is based upon the percentageof the sales volume made on the specific premises. There is usually a clause for a minimum rent as well. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

Non-Disturbance Agreement The tenant signs this to prevent himself from being evicted if the property owner does not pay its mortgage to the bank. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

Letter of Intent An informal, usually non-binding, agreement among parties indicating their serious desire to move forward with negotiations. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

Gross Lease A lease of property whereby the landlord (i.e., lessor) pays for all property charges usually included in ownership. These charges can include utilities, taxes, and maintenance, among others. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

A trust sale means that the home is being sold by a trustee of a living trust – and not a private party. More often than not this is because the original homeowner has passed away, or has placed their assets in a living trust.

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Eco Depot Inc. @ECDP_Properties

5 years ago

Tenancy in common describes a type of joint ownership of a property, whether a single family property or a commercial building. The tenants in common all own the property, but in different ratios. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

Rent-back, or leaseback, refers to an arrangement whereby the buyer, who is now the new homeowner, agrees to allow the seller, the now-tenant, to stay in the house beyond the close of escrow. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

A probate sale happens when a homeowner dies without writing a will or leaving a property to someone. In such situations, the probate court would authorize an estate attorney, or other representative, to hire a real estate agent to sell the home.

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Eco Depot Inc. @ECDP_Properties

5 years ago

The following natural hazard zones are covered in a NHD report: Special flood hazard area Area of potential flooding Very high fire hazard severity zone Wildland area that may contain substantial forest fire risk and hazards Earthquake fault zone Seismic hazard zone #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

iBuyers take on the burden of owning, marketing, and reselling your home. Depending on the service you choose, the benefit is the certainty of an all-cash offer and more control over when you move. #ECDP #$ECDP #CRE

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Eco Depot Inc. @ECDP_Properties

5 years ago

Hard money lenders finance the loan based on the property in question, not on your credit score, and typically require a large down payment and short repayment schedule, according to Nerdwallet. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

An earnest money deposit (EMD), sometimes referred to a “good faith deposit”, is the initial funds that a buyer is asked to put down once a seller accepts the buyer’s offer. #ECDP $ECDP

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Eco Depot Inc. @ECDP_Properties

5 years ago

Here are a few tips on how you can effectively use digital marketing for real estate. socialmedia.biz/how-to-effecti…

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Eco Depot Inc. @ECDP_Properties

5 years ago

Your lender wants to know that the loan is properly secured by the property you're borrowing against. This means that you'll generally need to have at least 25% to 30% equity in the property. If you're buying, you'll need a down payment of 25% or more to qualify. #ECDP #CRE

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Eco Depot Inc. @ECDP_Properties

5 years ago

Here are some things to consider when selecting a lender: Available loan options Starting interest rates and fees Documentation requirements Time-in-business requirements Prepayment penalties Personal-guarantee requirements Better Business Bureau ratings and customer complaints

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Eco Depot Inc. @ECDP_Properties

5 years ago

Commercial real estate loans typically have five- to 10-year terms but are amortized over a term of up to 25 years, which may leave them with a large balloon payment at the end of the term. #ECDP #CRE

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Eco Depot Inc. @ECDP_Properties

5 years ago

Most lenders require borrowers to have a credit score above 660 to qualify for a commercial real estate loan. #ECDP #CRE #RealEstate #CommercialRealEstate #News

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Eco Depot Inc. @ECDP_Properties

5 years ago

Based on a survey conducted in July, the latest index (133.96) was only slightly below June’s (134.25), but this is the first time since the beginning of the coronavirus pandemic that the Index has experienced a month-over-month decrease. mpamag.com/commercial/new… #ECDP #CRE

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Eco Depot Inc. @ECDP_Properties

5 years ago

The coronavirus pandemic hasn’t just decreased South Florida commercial real estate deals. It chopped the transaction dollar value by more than half for some property types. law.com/dailybusinessr… #ECDP #CRE