If you live in an urban subdivision built in the past ten or 15 years, chances are the borders of your property are exactly where they appear to be – right down the fence line and to the edge of the street. There is an extremely low likelihood that part of your deck...
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Are you ready?
I’m stealing today’s post from Ask Ross, a blog about all things mortgages. Here are his top 5 signs that you are ready to buy a house: You have a reliable source of income. Home ownership requires paying regular bills, and being prepared for unexpected expenses. If...
When do I sign?
Here is one of the most frequent questions we get asked: when do we come in to sign everything? Technically, you only need to sign just before closing, but some banks want to have signed documents back several days ahead of closing so they can review them. If the bank...
Buying a condo? Start here.
The Canada Mortgage and Housing Corporation is Canada’s national housing agency. The primary reason the average person would come into contact with CMHC is because they offer mortgage insurance on many high-ratio mortgages for Canadians; if you are buying a house with...
What happens if you don’t close?
I have had this situation a few times: a client calls not too long before closing, and they’ve gotten cold feet. What happens if you don’t want to close the deal? Generally, if you refuse to close, you must have a legitimate reason. As a buyer, if something is...
Rent or own?
I read this article the other day at the Globe and Mail and found it both interesting and practical. The author goes through a number of reasons why, even though she could technically afford to buy a house, she is choosing to continue renting for the time being. There...
Biting the hand that feeds you
Just before the end of last year, Moneyville reported on an agent who sued her former clients after a deal went bad. Essentially, the issue became the cost of staging the house when the owners took their home off the market because they could not sell it for a price...
Mortgage wars!
The Globe and Mail published an article last week about the latest round of price cuts on Canadian mortgages. Bank of Montreal has reduced its rates again, offering low five- and ten-year mortgages. In response, the other big banks in Canada have followed suit,...
Time to jump into the market?
The Globe and Mail ran this article a few days ago about home ownership becoming more affordable. According to national statistics, house prices in the largest markets - Vancouver, Toronto and Montreal - all decreased in the last quarter. This combined with still...
Down by the bay
Up here in Simcoe County, there is a lot of waterfront property. In Barrie alone there are homes all along Kempenfelt Bay, and there are numerous lakes throughout the County where people own homes with waterfront access. There are particular issues to be aware of when...