Our last article focused on situations where a property is damaged before a deal closes, such as events of water damage. We considered how in situations of fundamental breach, a purchaser may be entitled to terminate the agreement or else take the proceeds of insurance and complete the purchase. However, this “take it or leave it” scenario is rarely the full picture. Most events of damage fall short of fundamental breach. This article focuses on the strategies and options that may be available to home buyers when they are notified that a property has experienced some damage or alteration prior to closing.
February 17, 2025
Despite the Bank of Canada taking steps to reduce interest rates, many Canadians still feel pressure due to the overall cost of living and inflation. This uncertainty can be unnerving for many individuals, but don’t fret!
February 17, 2025
Our agents are outstanding salespeople. We know that. Working with clients. Finding the treasure property. Negotiating the deal. Simply the best. And when it comes to support personnel nobody comes close to the talent and dedication of our crew. What you may not know, however, is that in addition to their obvious talents, lurks in many cases superb cooking skills.
February 17, 2025
I now have the January sales figures in from the Board. They are not precise. This concerns me when it comes to both number crunching and reporting. I’m not faulting anyone but the fact is that a couple of changes have occurred which skew the figures. The first, as we’ve discussed in the past, is that the industry over the past year or so has switched from average sale prices to HPI prices (Home Price Index) which zeros down on one type of sale.
February 15, 2025
Last issue we looked at the challenge of setting out to build an investment portfolio. We saw that while a multi-family building is a great place to start, regardless of the investors profile, there are a number of considerations as we continue to develop.
January 15, 2025
Tradition. It’s defined as ‘a long-established practice that is followed or observed by a group.” There are a lot of traditions observed in our society. And most of them associate with special events. Halloween for example, it’s a tradition that children dress up, originally in scary costumes and go from door to door collecting treats.
January 15, 2025
January 15, 2025
I had the opportunity over the holidays to spend some time with a good family friend. At one point the topic of investment real estate came up. He indicated he was thinking seriously about starting an investment portfolio and wondered what his first purchase should be.
In real estate transactions, the period between the formation of the contract and the closing date presents unique risks to buyers and sellers. Most real estate contracts stipulate that the property be delivered in substantially the same condition as it was in at the time of the agreement. Unexpected occurrences can result in damage to the property after the contract is signed, but before ownership is transferred. For instance, a flood or fire could render the property uninhabitable on closing, or significantly reduce its market value.