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 …
How Long Can You Provide Customer Service?
Some real estate Brokerages will have entered into Customer Service agreements with various parties. It was possible under REBBA, 2002, but not allowed under the new TRESA which comes into …
Buyer Discovers Appliances are Missing on Closing
Washer and Dryer Missing on Closing Question: I acted for a Buyer client. It closed today. Buyer gets keys and washer/dryer are missing. I put the following in included Chattels …
Disclosure Issues for Realtors
There are basic rules that apply to realtors concerning disclosure. Everyone who is permitted to trade in real estate under the Real Estate and Business Brokers Act, 2002 is subject …
Noisy Neighbours ~ Do You have to Tell?
Actually, it depends upon where you live. If you live in Ontario, you can keep this to yourself. But, one little problem, your agent may have to tell. Listen, this …
Suicide Disclosure
Question: Does a suicide in the unit have to be disclosed by the seller? Or is it a buyer beware type of situation? Answer: The law does not require the …