Archive for Real Estate Horror Stories and Dirty Tricks
Biggest Mistakes You Can Make As A First-Time Homebuyer In Toronto
Buying Toronto Real Estate for the first time: Don’t make these mistakes Not budgeting for extra costs Many people overlook or don’t understand what is included in the blanket phrase “closing costs”. These costs include taxes, legal fees, home inspector fees, moving costs, insurance and hooking up utilities. Even if you have your home buying [...]
Former Grow-op Homes: An Increasing Problem In Toronto?
The National Post published an article today on grow-op houses in Toronto, and how they are on the increase. Unfortunately, it’s becoming a growing problem for home buyers and home sellers in the City of Toronto. According to the article, being a former grow-op home can reduce the selling price by between 20% and 25%. While [...]
Bully Offers and Toronto Real Estate
Toronto Real Estate. What is a bully offer, and what are the pros and cons for both buyers and sellers in a bully offer situation?
Buying Land In The Greater Toronto Area? Get A Land Survey
Toronto real estate lawyer Bob Aaron describes what can go wrong without a land survey in his Toronto Star column this week. In his column, Aaron tells of an Edmonton family who purchased a plot of land with the intention of building a house there. However, everyone involved dropped the ball and the property that [...]
Toronto-Area Couple Steals During Open Houses
According to the Canadian Press, a Toronto-area couple is facing several different charges after pilfering through people’s belongings and taking what they wanted during real estate open houses. After a string of thefts in a series of open houses, police began keeping track and finally arrested the suspects last weekend. Jewelry and money were the [...]
Toronto Real Estate Income Properties Require Research On Potential Tenants
Ever consider renting out your Toronto real estate? Maybe you have a spare bedroom, basement or whole home that was bought as an investment property and some extra income would certainly help with paying off the mortgage. There are more laws in place in Ontario to protect tenants than landlords. In the case of a [...]
Radon Risks For Toronto Real Estate Owners
Radon is the lesser-known, ugly cousin of mold and asbestos. It’s a homeowner issue that is not discussed or widely publicized like mold and asbestos, because there’s little recourse for litigation. When radon occurs, it’s not really anyone’s fault. Radon is a radioactive gas that is invisible and has no odour. It naturally exists all [...]
Land Survey: Toronto Homebuyers And Home Sellers Shouldn’t Overlook It
In any Toronto real estate transaction, a land survey is sometimes overlooked. A recent story in the Toronto Star about two neighbours who shared a mutual driveway between them reiterates the importance of getting a land survey and understanding property boundaries before purchasing or selling a home. The couple who recently moved in next door [...]
Toronto Real Estate And Promises, Promises
In various Toronto real estate transactions, sellers may promise things nonchalantly to buyers or buyers may ask for promises the sellers can’t really keep. Buyers backing out of a deal can be one undesirable result of these promises, as can putting yourself in the position of being sued for damages. Promises fall into two categories [...]
How Can Toronto Homeowners Protect Themselves From Being Pulled Under With A Sinking Contracting Company?
Toronto Homeowners Should Never Pay For Work Upfront Some recent news out of the United States has shone light on two important and financially dangerous aspects of having work done around or on your home. One issue is that if a company is paid upfront for all of the work, there is little recourse for [...]
