The Real Estate Regulators of Canada is an organization comprised of the various provincial regulatory bodies including RECO, They have a publication concerning proper professional behavior. This is what it …
Ottawa Vacant Unit Tax
The City of Ottawa has passed a By-law dealing with the “Vacant Unit Tax”. It comes into force 1 January 2023 and imposes a tax of 1% of the assessed …
Offer Clauses: Toronto Vacant Home Tax
The City of Toronto has made Purchasers responsible for the added tax which might come as a surprise. So, consider adding the following clause or something similar to an Offer …
Change of Ownership and Toronto Vacant Home Tax
The City of Toronto is looking to place a lien on the property for unpaid taxes. That means that the vacant home tax will become the Purchaser’s responsibility. Have a …
Toronto Vacant Home Tax: The Declarations
“Types of Property Status Declarations Property Status Declaration Description Subject to Vacant Home Tax? Occupied as principal residence of homeowner The property is where you reside and conduct your daily …
Toronto Vacant Home Tax: Exemptions
Exemptions There are a few exemptions to the vacant home tax. Here they are: A property may be left vacant and be exempt from the Vacant Home Tax if one …
Toronto’s Vacant Home Tax and Buyers
Toronto brought in a vacant home tax. It’s in the amount of 1% of the assessed value of the property if the property was vacant for 6 months throughout the …
What is Expected of a Real Estate Broker?
Brokers, Managers and Brokers of Record What is the role of a real estate agent? What should they be doing with respect to a real estate transaction? The Real Estate …
What is Expected of a Real Estate Agent?
What is the role of a real estate agent? What should they be doing with respect to a real estate transaction? The Real Estate Council of Ontario (RECO) just published …
Real Estate Compared toTesla Stock
Real Estate Compared toTesla Stock Over the last year, Tesla stock has declined 64.97%. That’s a lot. Real estate has gone down somewhat in the range of about 20% to …