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Homeowner Protection Act, 2024: What Ontario Builders and Developers Need to Know
The Homeowner Protection Act, 2024 was introduced on June 6, 2024, resulting in significant updates to Ontario's real estate landscape. One of the most notable changes is the introduction of a 10-day cooling-off period for buyers of newly constructed freehold...
Six Hidden Costs Every First Time Homebuyer Should Know
Buying your first home is an exciting milestone, but many homebuyers are caught off guard by hidden costs. Buying your first home is an exciting milestone, but it can also come with unexpected expenses. At Merovitz Potechin LLP, we want...
Top Reasons to Consider Buying a Home in Winter
Introduction: Why Buying a Home in Winter is a Smart Choice While many people focus on staying warm and getting back into their routines during winter, this season may be the perfect time for homebuyers. If you're considering buying a...
Understanding HST Liability on Short-Term Rental Property Sales: 1351231 Canada Inc. vs. His Majesty the King
In February of 2008, brothers David and Dean bought a condo unit in Ottawa under their corporation. They used the unit as a standard rental property for 9 years. In 2017 they jumped on the Airbnb bandwagon until selling the...
Financing Your Mortgage: Stress Test Eliminated Starting November 21
Right now, lenders require you to pass a ‘stress test’ to approve your mortgage renewal. As of November 21st, this will no longer be the case. Note that this only applies to straight switches of uninsured mortgages between lenders –...
