Navigating End-of-Month Closings in Real Estate: Your Essential Guide
In the realm of real estate transactions, the first and last week of each month emerges as the peak period for legal activities. This pattern aligns with the preference of many people to schedule recurring payments, such as for utilities, around these times, aiding in effective budgeting. Given this context, it’s essential to recognize the…
Why you Need an Experienced Real Estate Lawyer on your Side
Unlocking the Power of an Experienced Real Estate Lawyer: Your Key to a Hassle-Free Transaction In the ever-evolving world of real estate, one crucial aspect often gets overlooked in the excitement of buying or selling a property: the need for an experienced real estate lawyer. While some may be tempted to cut corners and opt…
Purchasing a Pre-Construction Condominium – What to Know
What to Know Interested in entering the pre-construction condo market but not sure where to start? You are certainly not alone! The idea can seem a bit daunting at first. Hundreds of pages of legalese to go through. Uncertain construction timelines to deal with. An ever-changing market. There are many factors to consider before putting pen to paper….
Foreign Buyer Ban on Residential Property – Effective January 1, 2023
What is the Foreign Buyer Ban? Effective January 1, 2023, the Government of Canada is implementing a two (2) year foreign buyer ban. This means that ONLY Canadian citizens/permanent residents will be allowed to buy residential property in Canada. There are some exceptions to the ban. For example, if a non-Canadian is purchasing with their…
Why choose the WeAreLaw team?
Whether you are a first time home buyer or an investor we are here for you. Our Experience We handle purchases and sales (resale, preconstruction and commercial), refinances, title transfers, assignments and wills and estates. We have been practicing for almost 20 years and have closed over 15,000 real estate transactions throughout Ontario. Our People In today’s…
Status Certificates
What is a Status Certificate? A Status Certificate is a document that discloses certain information about a specific condominium unit (dwelling, parking, and locker units, as applicable). The Status Certificate includes a package of documents outlining the current financial and legal “health” of the unit(s) and building, and the rules and regulations unit owners must…
The Closing Costs Most Overlooked by Home Buyers
By Zoocasa When it comes to material possessions, nothing will be more important than your very own home. The price tag on the house you can afford, however, is only the start of costs you’ll be expected to roll out. To start with the bottom line first, most financial institutions recommend setting aside roughly 1.5…
How Condo Fees Affect a Condo Purchase
Deciding to buy your own home is an exciting milestone for many, and choosing a condo over a detached home definitely has its perks. The indoor amenities and services, not to mention the outdoor maintenance tasks you’ll never have to do are all wonderful features, perfect for busy singles, couples and seniors. Although you’re spared…
New Build Condominium – Do You Get Interest On Your Deposits?
The short answer is ‘Yes … but’. Section 82 of the Condominium Act (“Act”) legislates that the builder (also called the declarant) must pay you interest on any funds you have paid as a deposit towards your purchase. This is great news for purchasers as we see more and more delays in the completion of new Toronto…
What is a First Time Home Buyer?
If you’ve got a ton of questions about buying your first home, you’re not alone. Join @RBC_Canada and a panel of 5 experts (including myself, @DavidLFeld!) for the #FirstHome Twitter chat, on June 26 from 9-10 pm. Get answers to your most complicated questions and a chance to win RBC Visa Gift Cards! One would think…