RRSP Home Buyer's Plan - detailed explanation in simple terms.

Friday Jul 9th, 2021

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We have been asked on many occasions about the RRSP Home buyers plan and thought it would be a good idea to explain the details from the beginning to the end of how it works, and what to do. What is Home Buyers Plan. A home buyers plan allows you to withdraw up to $35,000 per person (if you are a couple you can withdraw up to $35,000 each, for a total of up to $70,000) for the purchase of the qualifying home for yourself or for a related person with a disability. You can only withdraw... [read more]

Buyers Cash Back Explained

Thursday Aug 12th, 2021

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You may have heard of realtors offering a cash back, in this short blog we will explain what it is, and how it works. What is a cash back? Cash back for buyers is an incentive offered by the real estate agents for their buyers. In a typical real estate transaction the sellers signs a contract with the listing agent, in the contract one of the items outlined is a commission, part of the commission is received by the listing agent (agent representing the seller), and part of the commission... [read more]

Is mortgage pre-approval important for the buyers.

Sunday Oct 3rd, 2021

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This topic is often brought up on various online forums and opinions vary, from don’t bother it’s not worth the paper it’s written on to it’s a must and everything in between. Most home buyers are not lucky enough to be purchasing a property without financing and will need a mortgage. Let’s start with the basics. What is mortgage pre-approval. A mortgage pre-approval means the financial institution has qualified you for a certain amount of mortgage based... [read more]

Do you know your Toronto house?

Monday Dec 27th, 2021

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Many of us live in newer subdivisions, high rise condominiums or areas which were farmer fields not too long ago, but what if you happen to live in an older house in Toronto and would like to find out more of the house history? City of Toronto put together a neat little website which will help you Find The History Of Your Toronto House. Please start by watching the instructional video to get you started and go from there. The library is not complete, and you won’t find information... [read more]

Condominium corporation loans and special assessments explained.

Saturday Jan 1st, 2022

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When discussing the condominiums, we often hear terms special assessments and loans, in this blog we will explain what they mean and why they are often a sign of the existing issues. Both loans and special assessments are a form of financing where funds aren’t readily available. Loans – this is pretty self-explanatory, the corporation would apply and receive a loan which would be repaid over an extended period of time and collected via, likely increased, monthly common fees.... [read more]

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