November 16, 2020
In your typical real estate transaction, a purchaser is required to deliver to the seller the balance of the purchase price after adjustments in the form of “a bank draft, certified cheque, or wire transfer”. Law offices have traditionally preferred certified cheques for several reasons. First, a certified cheque ensures the funds are available in the account it was issued from. This avoids the recipient bank’s requirement to hold large sums for several business days before they are cleared. A second reason why certified cheques have been the industry standard is that firms acting on opposite sides of a deal are often close to each other. This meant that on closing day, the lawyers would exchange certified funds and keys directly with the other law office.
October 15, 2020
I have been absent from writing the “Nuggets” portion of our monthly newsletter this year, but now that I am back to work it’s back on my work agenda plate again.
October 15, 2020
When a couple owns real estate together and have decided to sell their home and live separate and apart, a separation agreement will be necessary. This is true whether the couple is married, common-law, or are partners in a short-term relationship. This article focuses on the importance of understanding the equity in your home, considers what issues might be covered in an agreement, and explores when a party should seek legal assistance for the purpose of having a separation agreement prepared.
October 15, 2020
Moving on into the Fall, the market in Niagara continues to show remarkable strength. As one might expect, there is a slight dip in the number of sales recorded in August and September over the late spring and summer figures, but not much. In August, a total of 1003 sales were recorded across the region and in September the numbers had dropped slightly to 981. When compared to the record 1047 set in July, that represents a drop of 4.20% for August and a further drop of 2.19% in September, and that is in keeping with previous trends for this time of year.
October 15, 2020
Generally in our Money Machine seminars and related articles we concentrate on residential rentals. The reason is that for the novice investor it’s both easier to understand and easier to get into the residential investment market than it is commercial. Having said that, however, Commercial is a very valuable avenue for real estate investment and needs to be considered.
October 15, 2020
Did you know the biggest difference between getting your mortgage from a bank vs. a mortgage broker is that the bank only has access to their products, while I, your mortgage broker, have access to hundreds of different lending institutions and mortgage products to fit your unique needs?
September 15, 2020
Who would have ever forecast back in March that this COVID-19 virus would have been lingering on throughout the spring and summer months and right on into the fall. But that is certainly what has happened. And while the economy is struggling to its feet, a lot of sections of the economy have yet to rebound, and some never will.
September 15, 2020
Getting pre-approved can be a vital step to the home-buying process! But don’t confuse this with pre-qualification; you can get a pre-qualification through the My Mortgage Toolbox app to determine what you might qualify for. Pre-approval, on the other hand, means that a lender has stated (in writing) that you do qualify for a mortgage and what amount, based on your current income and credit history. A pre-approval usually specifies a term, interest rate and mortgage amount and is typically valid for a brief period of time, assuming various conditions are met.
September 15, 2020
Whenever you purchase a property, you are essentially buying the land and improvements. That includes any trees or landscaping. It includes, of course, the bricks and mortar. But it also includes an intangible element. Something we call the “bundle of rights”. The right to occupy. The right to quiet enjoyment. And subject to the laws of the land, zoning etc, the right to remodel, to expand the footprint or demolish it for that matter.