Lawyer review critical for newbuild condos deals

Take advantage of the cooling off period to avoid getting burned on a newbuild condo deal. Brand new condo purchases hold a unique status in Ontario’s real estate world, carrying with them a slew of extra steps and adjustments that can easily catch out ordinary consumers.   As a result, provincial law requires a 10-day rescission [...]

By |2021-01-07T19:36:49+00:00January 7th, 2021|

Don’t forget your digital assets when drafting a will

Much of our lives are lived online these days, but people still forget their digital assets when it comes to estate planning. A BMO Wealth Institute survey on the subject found members of the Baby Boomer generation generally recognized the importance of digital assets and access to them after death. Yet even among this [...]

By |2020-07-09T16:48:52+00:00July 9th, 2020|

Trust is key when picking POAs

Trust should be top of mind when drafting powers of attorney.Under Ontario’s Substitute Decisions Act, attorneys for property are granted authority over the grantor’s property, including their finances and bank accounts. Meanwhile, attorneys for personal care take responsibility for decisions about the person’s health care broadly, including nutrition, shelter, clothing, hygiene, and safety.You don’t have [...]

By |2020-07-02T19:34:13+00:00July 2nd, 2020|

Toronto cracks down on Airbnb

Toronto is making a name for itself as one of the least hospitable places for Airbnb landlords and guests. The COVID-19 emergency has prompted a number of condo boards worried about spreading the disease to ban residents from listing their units on it or other short-term rental sites, even as bookings dried up in the wake of [...]

By |2020-06-25T17:12:27+00:00June 25th, 2020|

Cooling-off period for new condo purchases can reduce sting of closing adjustments

Brand new condo buyers can avoid a nasty shock on closing day by visiting a real estate lawyer during the cooling-off period. Unlike resales, new-build condo purchases have a whole host of extra steps and adjustments that can easily catch a normal consumer off guard. Luckily, provincial law accounts for the unique nature of [...]

By |2020-06-15T18:26:04+00:00June 15th, 2020|

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|

Pros and cons of purchasing a new or resale condo

A recent Toronto Star article reports that more than 20,000 new condominium units were completed in Toronto in 2014, and that by the end of October, almost 19,000 new units were sold. This jump in new builds is a result of a number of factors, including rising costs in the housing market, the draw of [...]

By |2019-11-29T18:46:17+00:00January 16th, 2015|
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