You put in an offer and it was accepted, but some time before the closing date, the seller decided not to complete the deal. Can you sue to make them sell you the property? In Ontario, there is a concept called “specific performance” which, essentially, means that you...
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real estate law
Buying a rental
I have written before about assuming a hot water heater rental contract with your new house. Today’s question: do you want to? Before you automatically agree to assume the contract, you might want to take a look at the wording of it. Sometimes it makes more sense to...
Cutting ties
What happens when you own a property jointly with someone, and don’t want to share any more? Your kindergarten teacher probably wouldn’t be happy, but technically, you can sever a joint tenancy without any notice to the other person. Basically, you do a transfer from...
HST rebates
Here’s another tax-related post for near tax time: HST rebates on a new home. If you are buying a brand-new home, you are entitled to a rebate, but only in specific circumstances: You must intend to live in it as your primary home. It can’t be a cottage or other...
If a tree falls….
Earth Day is right around the corner, so here is a question along environmental lines: If a tree falls in your yard, who has to pay for its removal? A tree belongs to the property owner whose land the trunk is on. If it straddles two properties, it belongs to both...
Tax time
With tax time coming up shortly here in Canada, I thought I would revisit a topic: when do you have to pay HST on a house? The short answer: always, unless there is an exemption. One major exemption is for resale homes; as long as it has been used for residential...
All the things you left behind
I have had many occasions where purchaser clients arrived at their new home to find it full of items that the vendor left behind. As a seller, you can only leave items if you have specifically agreed to do so in your agreement of purchase and sale. This includes...
Put it in writing
It might go without saying, but it is important to have all of the details of your real estate contract written down at the time of agreement. I have seen many people who had a verbal agreement that the sellers would leave a particular item, but it wasn't in the...
Bridging
Last week, I blogged about timing. This week, I wanted to touch on something related: bridge financing. From a legal standpoint, bridging makes your move go much more smoothly. If you have bridge financing in place, I can close your purchase before your sale is...
What time do I have to be out of the house?
This is one of the most common questions I get asked. The answer: it depends. As soon as the deal is closed, technically, you don’t own the house any more, and the new owner can make you leave. Practically, I advise my buyer clients to be patient and let the move...