A home inspector was ordered to pay almost $19,000 to a buyer, all because he reported on a significant defect verbally, rather than in writing, in a legal decision that will likely keep home inspectors up at night.
The federal government recently announced a significant change concerning guidelines for borrowers of high-ratio mortgages – a borrower who has a deposit of less than 20 per cent of the purchase price of a home.
Effective Sept. 6, the Ontario government implemented changes to the Residential Tenancies Act 2006 to benefit tenants who are victims of sexual or domestic violence, by allowing them to end a lease early.
The federal Interest Act prohibits a lender from penalizing a borrowers on unpaid arrears in some circumstances. Does that rule apply also to "discount" mortgage rates for good behaviour?
I am often asked by sellers to advise how much (or how little) information they must provide to potential buyers. It’s never an easy answer. Although "buyer beware" still holds, there are exceptions.
At its essence, an assignment of an Agreement of Purchase and Sale – informally known as "flipping a home" – is a simple concept. What is the benefit to the new buyer? There can be several.
Mortgage shopping has its complexities. If you are a real estate professional who is being asked for information and advice from a home-buying client, beware! It’s important that the client gets the proper information.
It may surprise you that in more than a few cases, condo unit owners have been forced against their will to vacate and sell their units. In other words, courts can evict condo owners.
As most homeowners are aware, mortgage life and default insurance is different from homeowner’s insurance, which provides coverage for loss caused by fire, theft, and in some cases, floods or sewer back-ups.
The HST New Housing Rebate was established and is governed by the federal Excise Tax Act and is aimed primarily at those who buy a new or substantially renovated home from a builder. As with all tax rebate programs, there are certain eligibility requirements.