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POTL - What is that?

Friday Oct 7th, 2022

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What is POTL. The term is associated with certain types of properties, in this short blog we will explain what it means as well as how it affects some properties. POTL is short for A Parcel of Tied Land. The most common forms of ownership of properties are freehold (detached or semi-detached homes, freehold townhomes) and Standard Condominium Corporation (your typical condo apartment, condo townhomes). POTL in the context of GTA residential real estate ownership refers to a... [read more]

What is a co-op and how it differs from a condominium

Friday Oct 7th, 2022

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The topic of co-op units come up when someone sees a very inexpensive unit on the market and asks why so cheap, what’s the catch or is it too good to be true. To understand the issue, we will explain what co-op is, how it differs from the typical unit in a condominium and challenges related to buying, selling and owning a co-op. Legal structure. In a co-operative structure the corporation owns the land and each unit in the building, owner of a co-op doesn’t own the unit but... [read more]

Understanding The Reserve Fund & the Reserve Fund Study.

Friday Jan 1st, 2021

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In our previous blogs we have explained step by step process of buying resale condominiums, and deeper into the most important document associated with the purchase, the status certificate, in this blog we would like to take it even further and explain one of the most important aspects of the status certificate, the reserve fund study, in more details. What is a reserve fund. In the nutshell the reserve fund are money put aside every month for future repairs and replacements, it is... [read more]

Selling a condo in GTA.

Sunday May 16th, 2021

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Selling a condo in GTA. If you want to sell a condo in GTA our first question would be if you must do so, as we have already pointed out in another blog we think the real estate in GTA will do very well over the long period of time, hence if you are able to financially, and want to be a landlord (many people buy a condo as their first property and then move into a freehold as their lifestyle changes) consider keeping your condo as long as it’s a good condo in a good building. If we... [read more]

What is a den, or let’s talk about +1.

Saturday May 22nd, 2021

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When looking for your next condo you often see numbers such us 1+1, 2+1, 1+2 where the first number represents the number of bedrooms, and the second number represents a den. We have already discussed what is a bedroom and the alternative solutions often used in condos, now let’s talk about the dens. A den, or the number that comes after “+” as it turns out, and unlike other spaces in your house or a condo is not regulated by the Ontario Building Code and that is why we... [read more]

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