Residential & Commercial Closings
DAMAGES IN REAL ESTATE
When a vendor or purchaser breach an agreement of purchase and sale by not completing the sale transaction, the innocent party may suffer damages and should...
BUYING A RESIDENTIAL INCOME PROPERTY – A Primer
With the Ontario real estate market demonstrating continued resilience, many people are still putting their confidence in real estate as an investment option across Ontario. These...
THE NEW HST: What all Home Buyers are Asking!
As part of its provincial budget, the Ontario government chartered a bill on March 26, 2009 that will adopt a single sales tax system tagged as...
The Income Tax Consequences for Selling Real Estate in Canada as a Non-Resident
Under section 116 of the Canadian Income Tax Act, non-resident vendors disposing of certain taxable Canadian property (partially listed below) are to notify the Canada Revenue...
CONSTRUCTION LIEN: Basics
Basically, a construction lien is a remedy available for someone who improves someone else's property by way of supplying materials and or labour. If that person is owed monies...
MORTGAGES & FINANCE: Residential Construction Financing
In the residential market, construction financing is available for customers who are planning to build a new home or who want to reconstruct an existing property...
THE ECONOMICS OF THE MORTGAGE INDUSTRY
Real properties (real estate) like buildings, lands, residences are generally acquired by a purchaser through taking a loan. The promise to repay this loan is backed by a...
REAL ESTATE: Latent & Patent Defects when purchasing a home. Need a home inspection?
Latent defects in the eyes of the law applicable at the time when administering the sale of a real estate property (land, buildings and fixtures or chattels),...
THE BASICS TO LAND TITLE SEARCHES
A title search is conducted during the process of selling or purchasing or acquiring an interest in a property. Its purpose is to find out:If the...
LAND TRANSFER TAX IN ONTARIO: And now the HST!
In Ontario, the land transfer tax has to be paid if land is purchased in the province or an interest in land is acquired therein. This...
