From time to time, the issue of a “true copy’ of an agreement comes up. Just what is it? Let’s assume that we are dealing with hard copies of an …
Pay Double for the Furnace: Rent it!
Many people are looking for a bargain when they shop. Hence, we have Walmart and Costco. But, nobody likes to read the fine print. So, when it comes to getting …
Are Second Opinions Allowed?
Question: Am I allowed to speak to someone who is under an agency appointment either a Listing or a Buyer Representation Agreement? Answer: Are you allowed to speak to someone …
Assignments without Developer’s Consent
Question: I am acting on behalf of a Buyer who really needs to sell their pre-construction condo. The Developer will not consent. What can they do? Answer: You can assign …
Bank of Canada Rate Increase 25 January 2023
This is a statement from the Bank of Canada on 25 January 2023: “To combat inflation, the Bank of Canada responded forcefully, raising its policy interest rate from 0.25% a …
Zero Impact Schedule “B”
Everyone loves Schedule “B’s”. They are always filled with insight and inspiration! Let’s have a look at this one: The Buyer acknowledges that the property is being sold “as is …
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 …