Buyers have the upper hand in pandemic-hit real estate market

COVID-19 has turned the real estate scene into a buyer’s market – at least for now. Since the pandemic took hold, we have had to say goodbye to many aspects of normal life, which for Torontonian home sellers used to include the enticing prospect of bidding wars and over-asking offers. According to a recent [...]

By |2020-05-25T16:35:57+00:00May 25th, 2020|

Aborted real estate deals can cost buyers

Backing out of a real estate deal is a risky business for prospective homebuyers, especially in a volatile market. Real estate brokerage Zoocasa recently predicted a return to good times in 2020 for the Canadian market – at least on the selling side – with prices and sales expected to grow significantly over the next [...]

By |2020-04-01T17:43:48+00:00April 1st, 2020|

Don’t rush into property co-ownership

Think long and hard before partnering up with a friend to buy a house.In a real estate market as crazy as the Toronto’s – the average price of a house hit $838,000 at the end of 2019, up 12 per cent on the previous year – it’s no wonder younger people are looking for alternative [...]

By |2020-05-06T21:47:09+00:00March 2nd, 2020|

Always review a current status certificate before buying a condo

Buying a condo is not the same as buying a house. With a condo, there are a few extra details you should check before signing the deal. A crucial one is the status certificate. Here’s why. One woman we know simply had her lawyer review the status certificate’s summary page before getting the go-ahead to [...]

By |2019-09-03T15:20:06+00:00September 30th, 2018|

Buying a house with a tenant? Here’s what you need to know

For many homeowners, renting out the basement or other areas of their home is an attractive idea. After all, having a tenant helps cover mortgage costs, making the purchase easier to afford. In exchange, all you (hopefully) have to do is fix the occasional leaky faucet. But having a tenant in a single-family home can [...]

By |2019-09-03T18:10:18+00:00April 2nd, 2018|

Conditions exist to safeguard interests of purchasers

A booming real estate market last year caused an uptick in offers with no conditions, a phenomenon which can harm buyers, writes Toronto real estate lawyer Lisa Laredo in The Lawyer’s Daily. Last spring, “the market was so hot that vendors were able to sell most properties within a day or two; many above the [...]

By |2019-11-29T17:27:10+00:00January 30th, 2018|

New legislation proposes to increase protection for new homebuyers

Although the Ontario new home warranties plan has been in effect for more than 40 years, it has given rise to persistent complaints of an appearance of conflict of interest — and the government now plans to split its two functions, Toronto real estate lawyer Lisa Laredowrites in The Lawyer’s Daily. Currently, as set out [...]

By |2019-11-29T17:38:36+00:00November 4th, 2017|

What you need to know about buying a pre-construction condo

Buying a pre-construction condo is more complicated than it first seems. The easy part is what feels like the hardest — finding a condo that you love at a price you can afford. Sure, you may have looked at dozens of plans in a number of buildings to find the one that’s right for you. [...]

By |2019-09-03T19:44:18+00:00August 28th, 2017|

Speculation tax more political than practical

The Ontario government's recently announced policy changes won’t have a significant impact on the real estate market. Non-resident speculation tax The government’s 15 per cent tax on the purchase price of all property in the Greater Toronto Area by non-residents of Canada is intended to curb the influx of foreign money into the market, which [...]

By |2019-11-29T17:41:40+00:00August 22nd, 2017|

Commercial real estate buys trickier than residential property

Buying commercial real estate differs significantly from personal property purchases, so it’svital that entrepreneurs seek legal advice early, Toronto real estate lawyer Lisa Laredo tells “There are a number of advantages to buying your own commercial property,” says Laredo, principal of Laredo Law. “But make sure you’re working with a team of people who [...]

By |2019-11-29T17:43:53+00:00August 8th, 2017|