In late-December, when the Government of Canada announced the guidelines around the Prohibition on the Purchase of Residential Property by Non-Canadians Act, better known as the Foreign Buyer Ban, the Real Estate and related industries had little time to implement a foreign buyer ban that was to be in effect as of January 1st, 2023.… Continue reading The Government of Canada rolls out changes to the foreign buyer ban
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Category: First-time buyers
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Guide to Closing on Your First Home in Canada: Tips for First-Time Homebuyers
Buying your first home can be an exciting and daunting experience. There’s typically a lot of stress that culminates when you are closing your transaction. Questions and doubts such as “are we making the right decision?” or “did we make any mistakes”? are common in the mind of first-time homebuyers. Closing a real estate transaction… Continue reading Guide to Closing on Your First Home in Canada: Tips for First-Time Homebuyers
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What happens at a real estate closing?
Every home buyer or seller looks forward to the moment of closing: the period where all involved parties put a bow on the sale and the keys get handed over to the happy new owners. The closing is by nature the most complicated part of the home buying and selling process. It consists of tying… Continue reading What happens at a real estate closing?
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New Home, New Traditions: Fascinating New Home Rituals from Around the World
Moving into a new Home? From breaking a coconut to putting garlic cloves under every bed, across different cultures, people have developed fascinating new home rituals and various traditions to mark the significance of moving into a new home. Most traditions and rituals have been deeply rooted in various cultures when someone moves into a… Continue reading New Home, New Traditions: Fascinating New Home Rituals from Around the World
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Buying in the City of Toronto? Budget for your Land Transfer Taxes (LTT)
Today we’re going to talk about the City of Toronto Land Transfer Tax (LTT). If you’re planning on buying property in Toronto, it’s important to understand how this tax works and how it’s calculated. First off, it’s important to know that the City of Toronto LTT is separate from the provincial Land Transfer Tax that… Continue reading Buying in the City of Toronto? Budget for your Land Transfer Taxes (LTT)
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What is a holdback in real estate and when is it used
When it comes to real estate transactions, a holdback is an amount of money that is withheld from the seller at closing until certain conditions are met. Holdbacks can be a useful tool for protecting the buyer’s interests, but they are not always necessary or even possible in every transaction. Here’s a closer look at… Continue reading What is a holdback in real estate and when is it used
