Urea Formaldehyde Foam Insulation (UFFI) causes concern and confusion with both buyers and sellers and is potentially a serious liability issue if not properly acknowledged / disclosed during the course of selling a home in Ontario. I’ll attempt to provide you with the background information you need in order to better evaluate a property you may be considering for purchase or sale.
Buying land or an interest in land in Ontario requires you pay land transfer tax. First-time homebuyers may be eligible for a refund of all or part of this tax. To be eligible for the First-time Buyer Tax Credit you need to be 1) 18 years of age, 2) Cannot have owned a home or interest in a home anywhere in the world (this applies to your spouse as well). Essentially, if you qualify, no land transfer tax would be paid on the first $368,000 of a home purchase to a maximum refund of $4,000). You can find out additional information at: http://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.html
Whether this is your first home or you’re an experienced buyer this infographic points to 10 Red Flags to watch for when considering a purchase.
According to the National Association of Realtors® (NAR) over 90% of home buyers use a Realtor® to find and purchase a home. On average, homes listed by a professional real estate sales person sell 19 days faster than those listed by owners and realize a 17% higher sale price. Here are 10 Great Reasons for using a realtor to buy or sell your home:
Multiple Representation is a potential reality with almost every real estate transaction but generally is not a concern to completing that transaction providing it’s understood by all parties and steps are take to avoid any conflict of interest by the brokerage and their representatives. In this post, I’ll attempt to clarify the various types of representation relationship which may occur and then describe when and why multiple representations may occur.