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Real estate terms that start with C

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Letter C

Crep

The acronym "CREP" refers to the finding of risk of exposure to lead, which is one of the mandatory real estate diagnoses when selling or renting a property for residential use, when the construction of the property is prior to January 1, 1949.
The CREP must be established by a professional diagnostician.

Maintenance logbook

The maintenance book is compiled and kept up to date by the syndic.
It gathers information relating to the maintenance of a condominium. In particular, it lists the information concerning the work carried out, the reference to the insurance contracts of the professional who carried them out, the contracts for the upkeep and maintenance of common elements, such as the lift. Any co-owner may request a copy from the syndic.

Condominium charge

The co-ownership charges are paid by the co-owners of the building, to the syndicate. They make it possible to finance the expenses of maintenance, conservation, administration of the building, collective services such as elevators, works. Each co-owner pays them at the request of the syndic and according to the tantièmes (or thousandths) he holds. There are two main types of loads:
- general expenses, which cover the expenses of maintenance, conservation and administration of the common areas.
- special charges, which finance common equipment and public services. The co-owners participate in these charges according to the utility that these equipment and services represent for their lot.

Commission

The real estate agent, intermediary when selling or renting a property, is entitled to the remuneration provided for, when signing the lease or the authentic deed of sale. The amount of the commission, as well as the party or parties in charge of it, is mentioned in the mandate (sale, rental ...) and in the deed containing the commitment of the parties (lease, deed of sale ...).

Sales agreement

The sales agreement is a preparatory contract that defines the conditions of the sale. It precedes the establishment of the authentic deed of sale, which will be signed at the notary's office. The compromise can be drafted by a real estate agent or by a notary.
In the compromise, the seller and the buyer reciprocally undertake the first, to sell the property, and the second, to buy it, on the conditions defined therein. The conditions of the sale are set out in the notarial deed drawn up and signed at the notary's office.

Joint ownership

Co-ownership is a way of organizing a property. It can concern a building, we then speak of vertical co-ownership, or a set of houses, we then speak of horizontal co-ownership.
In a condominium, we distinguish:
- the common parts that belong to the syndicate of co-owners (which brings together all the co-owners),
- the private portions, which belong to each co-owner.
Each co-owner is thus the owner of a condominium lot, consisting of a private portion, and a share of the common portions.
The co-ownership is represented by a trustee, and decisions are taken by the co-owners meeting in a meeting.

Co-owner

Within the co-ownership, the owner of a lot is called a co-owner. He is a member of the syndicate of co-owners and participates in meetings, in which decisions relating to co-ownership are voted.
The syndicate of co-ownership is represented by a trustee, non-professional or professional.
The co-owner is the owner of a condominium lot, consisting of a private portion and a share of the common portions.

Real estate credit

A mortgage makes it possible to finance the purchase:
- a building for residential use (or for professional and residential use),
- a building plot (and the construction of a building on the land),
- shares in a real estate company (SCI).
A mortgage can also be used to finance expenses for the maintenance and repair of buildings, if their amount is more than € 75,000.
The mortgage is subject to binding regulations, intended to protect the borrower. Thus, the borrower has the obligation to respect a reflection period of 10 days, from the day after the day of receipt of the loan offer issued by the bank, before being able to accept the credit offered to him.

Bridge credit

A bridge loan is a particular type of mortgage. It is used to finance the purchase of a property before having sold the property of which one is the owner.
The lending institution makes a cash advance for the benefit of the borrower, who thus finances his new acquisition, while waiting to sell the property he already owns.
The bridge loan has a duration of one to two years. It is used to finance up to 80% of the new acquisition. It is reimbursed when the first property is sold.

Credirentier

During a life annuity sale, the person to whom the annuity is paid by the buyer (called "débirentier") is called a "credirentier"). The creditor is usually the seller of the property.