Changes Coming To Multiple Representation

New Rules

Real estate agents represent seller clients through Listing Agreements, and represent buyer clients through Buyer Representation Agreements. These contracts obligate real estate agents to: Always work in the best interests of the client; Protect the confidentiality of the client’s personal information; Disclose all information that could affect the client’s decisions; and Carry out the client’s… Read More

New Condo Buyers: Beware of HST and Capital Gains Tax

When a new condo is purchased,  HST of 13% must be paid, as only resale real estate is exempt from HST. In most cases, the builder includes the HST in the purchase price, so the buyer doesn’t have to come up with a huge cash payment to CRA in addition to their down payment. In… Read More

Multiple Representation in Selling and Buying Homes

Real Estate Agent with Clients

When a home is sold, there are typically two real estate agents involved: one representing the seller (the ‘listing agent’) and one representing the buyer (the ‘buyer agent’). Another common situation is where one real estate agent represents both the buyer and seller, for example, when a buyer without an agent comes to an open… Read More

Is Your Basement Apartment Legal?

Is Your Basement Apartment Legal

There are thousands of basement apartments in Toronto, and the vast majority of them are NOT legal. There is a lot of confusion as to what it means for a basement apartment to be legal, and what is required to make it so. If you are thinking about buying a house with an illegal basement… Read More

Canadian Cottage Owners Need A Succession Plan

Ah, the great Canadian cottage dream….lazy days in the summer relaxing by the lake….watching the kids swimming or learning how to water ski. Or enjoy your own ski chalet, hosting happy family dinner gatherings after a day on the slopes. Canadians love their recreational properties and demand for cottages and ski chalets keeps pushing up… Read More

5 Key Things To Consider When Buying a Resale Home

The decision to buy a house is one of the biggest decisions you will ever make. Here are five key things to keep in mind: 1. What is the seller telling you about the house? Sellers used to provide disclosure statements, telling buyers about the condition of the home and disclosing problems. These days, lawyers… Read More

Buyer Loses Lawsuit Over ‘Haunted Building’ Joke

Haunted House

A lawsuit in Kitchener surrounding the sale of an office building was thrown out of court when the buyer who had complained about ghosts on the property could not provide any proof. The lesson is that if the history of a property matters to you, whether it is murders, suicides or rumours of paranormal activity,… Read More

Never Sign Rental Contracts At The Door

Ontario consumers will get stronger protection and more rights when dealing with door-to-door sales of water heaters. Bill 55, which passed second reading this month, will give you 20 days to change your mind after signing a water heater rental contract at the door. Suppliers can’t charge fees to remove equipment installed in that time…. Read More

How To Keep Your Home’s Purchase Price Secret

House Price

Many buyers would like keep the price they are paying for their home off the public title record. It can be done if you pay the land transfer tax in advance. The tax is usually paid by your lawyer, but you can do it yourself as long as you include these documents with your request:… Read More

What Your Home Insurance Won’t Cover

Home Insurance

If you’re selling your home and the buyer asks whether you’ve had a fire or there has been other damage to the house, just tell them and avoid trouble later. In an unusual case revolving around this principle, Zahid Shah, a Brampton man who was sued by the buyers of his home for withholding that… Read More