Everyone in Ontario applying for a residential mortgage has to pass what is known as a stress test. This is also the case for people who are refinancing their current home with a different lender, as well as those who are seeking a homeowner line of credit.
In a nutshell, a stre...
Legal Implications When Backing Out
Posted on Oct 08, 2023
Legal Implications When You Back Out of a Real Estate Transaction
As house prices in the GTA reached record highs, the real estate market has been under stress and scrutiny due to a combination of new federal stress tests, mortgage qualification criteria, foreign homebuyer’s tax, and rising interest rates. As a result, there has been a noticeably hi...
Lowball Offer
Posted on Sep 06, 2023
Lowball Offer
There is considerable debate surrounding the term “lowball offer”.
Some individuals use it to describe an offer that falls significantly below the asking price, while others use it to denote an offer considerably lower than the market value. For our purposes today, I will adopt both as the definitions.
Dealing with these types of offers...
What is Market Rot?
Posted on Aug 29, 2023
What Is Market Rot
You list your home and you anxiously await an offer. Showings are sporadic. Thirty days go by, then sixty then ninety. Then you pass the average days on the market in your area. It starts to become obvious to you that your house is not selling and now you are getting worried. The days on market (DOM) is the amount of time from the...
My Partner & I are Divorcing & Selling
Posted on Aug 28, 2023
My partner and I are divorcing and selling our home. Can we hire separate real estate agents?
Yes, you can. Selling a home during a divorce can be an emotionally taxing and daunting experience for many, but the right professional can help. Generally, it’s simpler if you can both agree on one real estate agent. However, if that is not feasible, then...
Mortgage Stress Test
Posted on Aug 28, 2023
Mortgage Stress Test
How exactly does this work and who does it apply to?
Mortage Calculators
Posted on Aug 28, 2023
What a Mortgage Calculator Can and Cannot Do
As you consider buying a home or refinancing your mortgage, it’s likely you’ll eventually look for a mortgage calculator online. As with anything else, there are tons of search results, and as usual, only a handful are relevant or even useful. We jumped into the deep end of those results, and here’s what...
