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Assignments Explained In Simple Terms

Sunday Apr 12th, 2020

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In this blog I will try to explain basics of assignments, the general terms apply to any region in Canada, some specifics will be related to Ontario and more specifically GTA. What is an assignment. Assignment is when the seller sells the interest in the property (contract with the builder) before they actually own the property (before the seller’s name is on the title). In real estate transaction the assignments can happen for preconstruction and resale, in practise it is very rare... [read more]

Is The Condo Preconstruction Deposit Safe?

Saturday Mar 28th, 2020

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I have already written about condo project cancellations and there have been a number of them in the last few years. Every time a unit is purchased a deposit is made, are these funds safe? There are number of safeguards in place to protect the buyers and their deposits. Tarion offers condo deposit protection up to $20,000, but as we know most deposits would exceed this amount by a large margin. The developer of the new condominium project must be Tarion registered and must enter into... [read more]

Renting in the GTA

Tuesday Jan 21st, 2020

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  Finding a rental property in today’s market of the Greater Toronto Area (GTA) can be challenging. The rental market is very HOT! Vacancy rates are at all time low (around 1%) meaning that landlords (property owners) have their pick of who they want to rent to (and for what price). The housing market affects the rental rates. The more landlords pay for the property, the higher their mortgage, the higher the rent. And as it becomes harder to buy a home, with low market... [read more]

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