FAQs

Q: Why is there a difference in prices between similar properties within a particular City?

There can many reasons for the price difference, including: Age of home Square footage of homes Number of rooms Interior finishes Property lot size Age of furnace, AC, Appliances etc. Upgrades/ updates done to the bathrooms, kitchen and other areas of the home Exterior features: roof, windows, lawn, curb appeal etc. Some neighborhood are more expensive than others School ratings in the area Proximity to public transit Sometimes sellers strategically list at a lower price to attract more buyers and or to have more showings Sellers motivation to sell quickly or wait for the best price Realtors are trained to look at the above criteria plus many other things to arrive at an opinion of price. The same knowledge or techniques are also used when we give an opinion of price when listing seller clients’ properties. Realtors use past and current data to come to the correct listing or purchase price. We evaluate market trends, inventory level to further refine the price. Realtors go through many months of education, licensing etc and are trained to help their clients buy to low and sell high in any given market. Buyers and Sellers should trust their Realtor team to get them the best results.

Q: Can You Help Sell Matrimonial Home in Divorce Cases?

Dividing Real Estate in Divorce is a very critical & emotional step for spouses parting ways. We have helped clients with the sale of their matrimonial home during this stage of life with full respect, fairness and professionalism. Contact us to discuss your personal home selling situation.

Q: What is Co Ownership or Joint Ownership

Co-ownership housing is a shared living arrangement where two or more people own and live in a home together. There are different ways to co-own a home. A groups of individuals can co-own the house outright or co-owners can use a corporation model. This allows the owners to share in the up-front and ongoing costs of owning a home. Learn how you can buy a home or a condo in Mississauga & area as a co owner or a joint owner .

Q: First Time Home Buyer Incentives

There are several incentives and schemes for first time home buyers RRSP Home buyers plan Ontario Land transfer tax rebate of up to $4,000 HST rebate for new home buyers First time buyer tax credit What is RRSP Home Buyers Plan (HBP)? Home Buyers Plan is a program that allows first time home buyer to borrow up to $35,000 from their "Self-directed Registered Retirement Savings Plan (SDRSP)". If you're purchasing with someone who is also a first time homebuyer, you can both access $35,000 from your RRSP for a combined total of $70,000. You must be a Canadian resident who has not used this plan before. The loan is not taxable as long as the funds are repaid into the RRSP (registered retirement savings plan) over a 15 year period. The money cannot be withdrawn until 90 days after the RRSP contribution. After 90 days one can use the Home Buyers' plan to withdraw $35,000 without penalty. This way you will receive a tax rebate. Is there any HST home buying rebate? Resale homes are exempted from HST in Ontario. HST is payable on new builder homes and condos. Do first time buyers pay land transfer tax? If you are a first time home buyer, you qualify for rebate of up to $4,000. Certain conditions and restrictions apply for which you need to read up on the Land Transfer Tax . What is first time buyer tax credit? To assist first-time home buyers with the costs associated with the purchase of a home, Budget 2009 introduced a First-Time Home Buyers Tax Credit a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

Q: Are Landlords allowed to take pictures to identify how Tenant has kept the unit?

Yes, but only with permission of the tenant. Note: taking your handyman to do a quick check-up on plumbing/ toilets / caulking etc. is not a bad idea. You must inform the tenant of the visit and provide 24-hour notice. For more FAQs, visit the Housing Law section of Steps to Justice site. Q&As on the site are organized in “steps” that lead people through common scenarios. Community Legal Education Ontario created the website together with justice sector partners, including the Landlord and Tenant Board.

FAQs

As a Non Resident Can I Sell My Property in Canada?

Why is there a difference in prices between similar properties within a particular City?

Can You Help Sell Matrimonial Home in Divorce Cases?

What is Co Ownership or Joint Ownership

First Time Home Buyer Incentives

Are Landlords allowed to take pictures to identify how Tenant has kept the unit?