Agreement of Purchase and Sale: Put it in writing.
You have decided to purchase or sell your home. The next step is to enter into an agreement of purchase and sale. It is important that the agreement be set out in writing, as per the Statue of Frauds. The...Read More
The Sellers Say They Won’t Close: Will the Courts Make Them?
Rising real estate prices create incentives for sellers to try to get the most out of their agreements. The hot markets in most of Ontario since the initial pandemic restrictions were loosened are no exception, and we have seen an...Read More
Updated Repair and Warranty Deadlines for New Home Builders and Buyers
On July 6, 2020, Tarion announced the reinstatement of certain statutory timelines that had previously been suspended pursuant to Ontario’s Emergency Order. Builders and buyers should take note that the following rules will apply to builder repairs, warranty submission timelines,...Read More
The Federal Home Equity Capital Gains Tax
As federal and provincial government deficits skyrocket due to COVID-19 support payouts such as the CERB, governments at all levels will be searching for new revenue sources in the not-so-distant future to try and balance budgets. One way to accomplish...Read More
Drugs, Murder and Nudists – What Must be Disclosed During a Real Estate Sale in Ontario?
When purchasing a home, most buyers want the confidence that the home they are buying is in good shape and that the neighbourhood they are moving into lives up to their expectations. With the help of real estate agents, a...Read More
Disclosure of Murder or Death in an Ontario Real Estate Sale
When looking to purchase real estate in Ontario, buyers should always perform their due diligence regarding the property. While this makes sense in terms of performing a physical home inspection with a licensed home inspector before finalizing the agreement, what...Read More
Buying A Home: Backing Out Of A Purchase
For most residential real estate purchases - both houses and condos - there is a grace period where you may retract your offer before it is accepted. But once that offer is accepted - barring any conditions that are not...Read More
Majority Of Home Sales Driven By Older Individuals
There has been a noticeable decline in mortgage activity amongst Canadians. Generally speaking, younger individuals - ages 38 and younger - seem to be struggling to break into the residential real estate market. While overall home sales have been down...Read More
Buying by Power of Sale
You may be looking at purchasing a house from a lender who is selling the house using the authority granted to them under the power of sale provisions of the Mortgages Act. Power of Sale Occasionally, homeowners are unable to...Read More
Failure to disclose is often the source of real estate lawsuits
One of the most common reasons for legal trouble in a real estate deal is disclosure. Disclosure-related lawsuits tend to emerge when a purchaser discovers something negative about a home after moving in which should have been revealed under Ontario...Read More