Escape Clause and Conditional Offers
Posted on Nov 19, 2024
An Escape Clause is One of Your Options When Accepting a Conditional Offer
I am selling my property. If I accept an offer that is conditional on the buyer selling their home, can I still consider other offers?
This is an interesting and important question that both buyers and sellers should discuss with their salespersons to fully understand before e...
When Considering the Purchase of a Condo vs Freehold
Posted on Oct 26, 2024
When Considering the Purchase of a Condominium vs Freehold Property
When considering the purchase of a condominium versus a freehold property, it is essential to evaluate the pros and cons of each option based on factors such as ownership rights, financial implications, lifestyle preferences, and long-term investment potential.
Condos: Pros and Cons
P...
New Mortgage Rules Beginning Dec. 15th
Posted on Oct 21, 2024
New Mortgage Rules Beginning December 15th
We have more clarification of the new mortgage rules being implemented on December 15th.
1. The 30 year amortization is available for ALL first-time home buyers, provided at least one person is a first-time buyer.
Definition of First Time Buyer – never having owned, if you have not owned for 5 years or longer...
Good News for Those with Mortgage Renewals
Posted on Sep 26, 2024
Good News for Those with Mortgage Renewals Coming Up
Mortgage stress test requirement lifted for renewing borrowers who change lenders
The move improves competition among the big banks to post lower interest rates for those renewing their mortgage.
Canada’s banking regulator will no longer require banks to apply the mortgage stress test to borrowers...
Canada's Insured $1.5M First-Time Home Buyer Loans
Posted on Sep 23, 2024
Canada’s Insured $1.5M First-Time Home Buyer Loans Are A Quiet Bail Out
Canada appears to be doubling down on its position that more demand will create affordability. Earlier this week, the Government of Canada (GoC) announced its “boldest mortgage reforms ever,” including its most ridiculous mortgage reform ever—first-time buyers using state-backed...
Living Inheritance in Canada: What You Need to Know
Posted on Aug 27, 2024
Living Inheritance in Canada: What You Need to Know
When most people think of inheritance, they often picture assets passed down after someone has passed away. However, there is a growing trend in Canada of living inheritance, where individuals gift assets to loved ones while they are still alive. This can be a meaningful and strategic way to share...
