What is Title Insurance?

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What is title insurance? Many purchasers closing a real estate transaction will have the option of obtaining title insurance, however, most people do not know what it is and how it can protect them. This article breifly explains what it is and why it may be important to have.

Ontario

Heritage Designation and New Projects

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The Ontario Heritage Act allows for municipalities to designate certain properties as historical and therefore limiting it for any redevelopment. This article breifly discusses the act and provides some discussion on the issues surrounding it and some examples of projects in the city of Toronto that use heritage sites for new developments.

law

My Real Estate Transaction Did Not Close, Now What?

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When a transaction does not close as a result of a Vendor’s or a Purchaser’s actions, what are the remedies for the innocent parties and what are the consequences for the guilty parties?

law

The Disclosure Statement

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Upon signing an agreement of purchase and sale, the Builder must deliver the disclosure statement and documents which contain important information about the condominium project.

interim

Understanding Interim Occupancy

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In Ontario, a new condominium project is a two-step process. One is called the interim occupancy, the other is the final closing. This article breifly goes over the process.

Lien

Condominium Liens

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Simple explanation of what condominium liens are and the enforcements powers of the condominium corporation with respect to condominium liens.

status

What is a Status Certificate!

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Status certificates are important documents that disclose the status of a condominium building, corporation and particular unit.

assignment

Assignments in Condominium Agreements of Purchase and Sale

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This article quickly explains what it means to assign a condominium agreement of purchase and sale before closing.

Bidding on a home

The Implications of Renting Your Condominium Unit

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Many purchasers of pre-construction condomoniums who are buying the unit as an investment are often uncertain as to what to do with the unit. Can they accomplish a quick sale and a good return on investment? Or will they rent it for a period of time hopefully paying off their mortgage and producing some positive cash flow. If the purchaser rents it, there are a few implications they need to consider.

adjustments

The Builder’s Condominium Agreements of Purchase and Sale – Understanding Adjustments

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Adjustments are development costs which the condominium builder (the “Builder”) must incur in order to deliver the condominium units to the purchasers.  These adjustments are disclosed in the agreement of purchase and sale (the “Agreement”) and are the purchaser’s responsibility to pay on typically the final closing date.