What happens when a party to a real estate transaction …

August 2nd, 2019

The Agreement of Purchase and Sale (APS) has been signed and any conditions waived or fulfilled. All that remains is for the closing itself to take place. What happens when a party to a firm APS fails to close the deal? This may happen, for example, if the buyers find out that they are unable […]

 

The House I Recently Purchased Was Used to Manufacture …

July 9th, 2019

You’ve just signed an agreement of purchase and sale, and you’ve discovered that drugs were illegally manufactured on the property years before the seller bought it. Can you get your deposit back? A recent Ontario Court of Appeal decision dealing with an “Illegal Substances Clause” in an Agreement of Purchase and Sale (“APS”) says: ‘it […]

 

Buying a Condo? Make Sure You Review the Status Certif …

June 27th, 2019

The past decade has seen a considerable increase in the number of condominium developments in Southern Ontario. As the population continues to grow, condos are a great way to efficiently use scarce land in major cities. The price point of condos is often much lower than that of detached homes, which makes them a popular […]

 

Buying or Selling a Resale Home? What You Need to Know …

June 5th, 2019

You have recently closed the deal on what you thought was your perfect dream home. After moving in you discover that the house is in need of many more significant repairs than you expected. Had you known about some of the issues, you would not have offered the price that you did, or perhaps you […]

 

What happens if I default on my Mortgage?

April 12th, 2019

A mortgage on your home will most likely be the most significant debt you will incur in your lifetime. A commitment in which you will be obligated to pay for a considerable amount of time – in the majority of cases anywhere between 10-30 years. That said, when a borrower defaults on their loan and […]

 

I Owned the Home Before We Married – Why Does My Spou …

March 5th, 2019

We are all familiar with the skyrocketing price of homes in Toronto and the surrounding area. It is not a simple feat to purchase a home – it requires a lot of hard work and obviously, money. Picture this: you work your way through school, spend years in full-time employment, finally earn enough income to […]

 

Identification Requirements for Real Estate Transaction …

January 18th, 2019

An important part of preparing for a real estate transaction is making sure that you have sufficient identification documents to satisfy the requirements of your realtor, lawyer and mortgage lender. Each of these professionals will require that you provide documents to verify your identity. The usual requirement is two pieces of valid and unexpired identification […]

 

Ontario’s New Standard Lease Agreement Starting April …

September 7th, 2018

Padmapper released a rent report earlier this year showing Barrie as the third most expensive city in Canada to rent a two bedroom ($1,650/month), and the fifth most expensive for a one bedroom ($1,250/month). That’s an increase of roughly 15% from rental prices in 2016. With the Barrie rental market heating up, landlords and tenants […]

 

Landlords Want to Ban Pot in Rentals

February 7th, 2018

Some residential landlords want to be able to ban the use of marijuana smoking in rental units when recreational use is legalized. Currently, the Residential Tenancies Act does not include explicit rules about smoking substances of any kind in a rental property.  The new marijuana laws do not contain rules for renters engaging in recreational […]

 
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