Here’s a great video to give you some idea of whether to jump into a hot market. Save
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Real Estate
Tax sales and superpriority liens
It always surprises me when I find out before closing a purchase or sale for a client that there are significant unpaid property taxes. While most people are aware of the requirement to pay them, I think that many don’t realize that municipalities actually have some...
Repairs to be done on closing
It’s a fairly common scenario: you purchase a house with a condition on home inspection, the inspector finds something wrong, and the seller agrees to have it fixed on or before closing. What’s the problem? Well, it’s with the wording: on or before. That phrase means...
Can I build a pool?
Often, properties have restrictive covenants or easements that limit what you can do, often along the edges of your property. These can be things like limiting signage, not having a clothesline, or keeping several feet along the edge for water or sewer pipes....
Mistakes sellers make
There is a lot that goes into selling a house, even in a very hot market like many cities are in right now. Here are some big errors that people get caught in: Not using a professional. Realtor, stager, handy person: doing it yourself will almost always cause problems...
Buying with friends
Here’s a new trend: in hot real estate markets, such as Toronto and Vancouver, people are buying houses together with friends and family in order to afford a proper house. Each person puts in a defined portion of the down payment and closing costs, and they each get...
Regulation of home inspectors
In Ontario, home inspectors have no formal regulation. They are often people who used to work in the construction industry – plumbers, electricians, or even building inspectors – but while there is an association of home inspectors, they have not been not formally...
Should you skip a home inspection in a competitive market?
The short answer: no. The long answer: In Ontario, if you had the option of a home inspection and chose not to have one, the seller is not responsible for anything a home inspector could have found. Simply because a home is popular doesn’t mean that it is in good...
Six easy mistakes to make when buying a house
When you are house hunting, especially for the first time, it can be very easy to get caught up in the search and overlook some important things. Here are some that warrant some thought: Don’t fall in love with the house. Think rationally: is it an older house that...
Do you qualify for a tax rebate?
Ontario has a number of excellent tax rebates for first-time buyers. One of the biggest ones is the rebate on the provincial Land Transfer Tax (LTT) (and equivalent rebates on the Municipal Land Transfer Tax if you live in Toronto). If you qualify, you can get up to...