What does ‘AS IS’ property purchase mean in Real Estate?
Posted on Jan 18, 2024 in First-Time Buyers
Purchasing a home typically begins with making an offer, also referred to as the agreement of purchase. This document outlines the necessary conditions that must be met to finalize the deal. Common conditions typically include securing mortgage financing and sometimes undergoing a home inspection.
The concept of purchasing a property “as is” indicat...
The concept of purchasing a property “as is” indicat...
How Do You Make a Low Ball Offer?
Posted on Oct 04, 2023 in First-Time Buyers
Could the Canadian housing market be in store for the return of the low-ball offer? While this buying strategy became all but extinct, given the heated housing market in the last couple of years, rising interest rates have caused many markets to cool and shift from strong seller’s markets to more balanced or even tilted in favour of buyers.Could th...
7 Home Ownership Responsibilities You May Not Know About
Posted on Sep 13, 2023 in First-Time Buyers
Indeed, owning a home comes with many benefits. But, of course, the chief advantages are building equity, not paying rent, and doing what you want (for the most part) on your residential property.
At the same time, homeowners possess several responsibilities beyond mortgage pay...
What is Land Transfer Tax?
Posted on Jun 29, 2023 in First-Time Buyers
When it comes to a home purchase, many buyers get caught on the listing price, and forget about the additional expenses that come up in the transaction, such as closing costs and land transfer tax. So, what is land transfer tax, and how much is it anyway? In this article, we summarize everything you need to know.
A lan...
Understanding Land Transfer Tax
A lan...
Closing: Understanding your Legal Buyer Obligations
Posted on Jun 19, 2023 in First-Time Buyers
So you’ve made a successful offer to purchase the home of your dreams, or at least have taken that crucial first step toward home ownership. Now what? At this point, typically, there is a bit of a waiting period. Closing periods can take several weeks to a few months, but some essential buyer obligations must happen quickly.
Once your offer has been...
Once your offer has been...
What Qualifies as a First-Time Homebuyer in Canada?
Posted on Jun 16, 2023 in First-Time Buyers
To qualify as a first-time homebuyer in Canada, you must meet the following criteria: you cannot have previously owned a property in Canada or abroad.
However, there are exceptions. It is possible to qualify as a first-time home buyer again after owning a home under the following circumstances:
However, there are exceptions. It is possible to qualify as a first-time home buyer again after owning a home under the following circumstances:
- If you have separated from and no longer live with a spo...