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 […]

 

National Housing Strategy

December 12th, 2017

On Wednesday, November 23, Justin Trudeau announced the federal government’s 10 year national housing strategy. The federal housing strategy is aimed at ensuring that Canadians have access to affordable homes. The aim is to reduce poverty and homelessness. Trudeau deemed access to adequate housing as a “human right”. The federal government is hoping to make […]

 

Condominium Disputes

November 15th, 2017

Condominium Law Reforms The tools for resolving disputes under the Condominium Act, 1998 (the “Condo Act”) were mandatory private mediation-arbitration and the courts. The mechanisms provided for under the Condo Act were time consuming and costly. A review of the Condo Act also revealed a power imbalance during disputes as between condo boards and owners. […]

 

New Mortgage Rules

November 6th, 2017

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s top banking regulator, introduced new rules on mortgage lending this month, which will take effect January 1, 2018. The rules include a minimum qualifying rate, or what is called a “stress test” for uninsured mortgages. The test is a way to ensure that the loans […]

 
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