The Canada Revenue Agency is getting tough with people who fail to comply with new rules requiring the routine sale of a home to be reported, even when there’s zero tax owing. If you don’t report the sale of a principal residence on your income tax...
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There are new rules coming out in January that require those taking out a mortgage to qualify at a rate two percentage points higher than the contractual mortgage rate. Whether you're buying a home or refinancing speak to a mortgage advisor who can help guide you...
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Nov
Who do you call to complain about the administration of the City of Toronto? Did you know that the City has an Ombudsman? The office opened in April 2009 and processed 1057 complaints in the first year. The office is only to be used as a...
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Nov
We were doing a home inspection in the Victoria Park & Danforth area, known termite territory. Usually if a home has been treated for termites, the owner acknowledges this, the listing agent discloses the information in the listing details and it's no big deal. But...
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Nov
Go high and go firm! That's the strategy. What it means is to pay more than list price, which almost goes without saying when there are multiple offers, but you are also expected to have a firm offer, which means no conditions. No condition on financing,...
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Everyone has read about the settlement between the Canadian Real Estate Association (CREA) and the Commissioner of Competition. It basically allows a seller to "merely" post a listing on the MLS for a flat fee. The broker or salesperson who takes this listing has chosen or...
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Beware. As a buyer, if you submit an offer to a seller who is just posting their listing on the MLS, and it's not being handled by a Registered Salesperson, there is no obligation to keep the terms and conditions of your offer confidential. Real Estate Brokers...
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