In the hot real estate market we almost never hear of an escape clause because the properties are often sold in multiple offers situation and without conditions, in the slower markets the escape clause happens more often. The escape clause in not limited to real estate and can happen in any type of contract.  Essentially the escape clause means that a party to a contract can escape or get out of the contract without a penalty. The clause can be used be either buyer or... [read more]

Hello first time home buyers. The process of buying the first home is a very exciting experience, but it can be tasking and overwhelming. In order to encourage home ownership and lessen the financial burden various levels of governments offer credits and incentives for first time home buyer, and they can add up to fairly significant amounts. I would like to explain to you the credits, their benefits, what they are and how to apply for them. There are many requirements and rules that need... [read more]

Pre-construction condos have been popping up all over GTA, and over the past few decades most people have done very well financially by buying pre-construction condos. Assignments, pre-con flipping, investment units have become the staple of condo purchases vocabulary, and majority of owners and investors alike reaped the benefits of buying pre-construction units. The key word is most, not all. Recently at least 9 condo projects in GTA have been cancelled, the biggest of them being... [read more]

February 2024 update. The program has been discontinued, not that many would care or notice since the program has been a complete failure. Original blog. In September 2019 the federal government has introduced the program to assist first time home buyers with a purchase of their home. The program is a bit more complex than the other government incentives I have written about, and deserves to be analyzed and discussed in more detail to highlight not only the particulars of the program,... [read more]

Why Are Condo Fee So High? Condominiums have been the hottest segment of the market around GTA until Covid hit, it was partly because of the lack of affordability for freehold housing, as well as changing demographics, lack of available land in Downtown Toronto, life-style choices, just to name few reasons. In this article we will look at why are condo fees so high. The amount to be paid for monthly condo fees can range anywhere from $200 for a studio unit in the brand new condominium... [read more]