Three common components tips for new homeowners The convenience of having a low-maintenance lifestyle is a major selling point for a condominium for homeowners. Not to bother about yard work, gardening, or pressure cleaning the driveway. Yet, this does not give you the licence to disregard the shared spaces in your building completely. Discover the […]
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Want to Build on Your Own Land? Here Are Five Things You Can Count On From Your Contractor If you want your custom-built new home in Ontario to be covered by the province’s new home warranty programme, you must hire a contractor or builder registered with the province as a new home builder and seller.
Quick tips for first-time homebuyers How will someone know when it’s “the proper moment” to buy a house? maybe a question you have if you’ve been considering it. Is it still ok to think about buying if you don’t have a 20% down payment saved up? Like any major undertaking, the secret to a smooth
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Essential facts about mortgage A mortgage, at its most basic, is a debt taken out to finance the purchase of real estate. A mortgage, like any other loan, has parameters such as an interest rate and an amortisation (payment) schedule. Mortgages are secured by the collateral of the home itself. This means that the mortgage
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PRE-CONSTRUCTION ASSIGNMENT SALE IS ADVANTAGEOUS Things can shift rapidly in life, for better or worse. The Agreement of Purchase and Sale includes a no-assignment clause for the security of both the original purchaser and the developer. It normally takes about four to five years to finish building a condo from the ground up, and even longer
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The Legal Process of an Assignment Sale Using the assignment clause to buy or sell a pre-construction apartment requires competent legal advice. The services of a lawyer with experience in this field should be sought out. Three years ago, when Stefan bought his two-bedroom-plus-den condo, he worked with a real estate agent and a lawyer
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A New Purchaser of a Condo Under Construction In the pre-construction real estate market, an assignee is the new buyer of a home or condominium who has legally transferred the contract for that property through an assignment sale. A contract for a yet-to-be-built property is being offered for sale or assignment by the original buyer
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Deposit protection eases homebuying stress Putting down a sizable deposit to secure the purchase of a new-construction house or condominium is a significant step in the home-buying process. Similar to the rising cost of housing, the cost of making a deposit has also increased dramatically. If you make a down payment on a new house
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How can Home Warranty Guard You Against Unexpected Expenses After moving into a brand new house or condo, the last thing you’re expecting is an unexpected emergency like a complete lack of heat or a huge plumbing leak. After all, the home’s essential systems and components are all spanking new, and the house was thoroughly
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