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Expert advice, market reports, and tips from the Niagara Region real estate professionals.
Buying a home is one of the largest investments you will ever make! In order to make your home hunting experience the best it can be, there are a few key mistakes to avoid and be aware of before you start your journey:
The holiday season is quickly approaching, with still so many uncertainties of how we will be able to celebrate.
When a real estate salesperson is licensed to trade in real estate, he is licensed under the Provincial Real Estate and Business Brokers Act. He is licensed to sell real estate, bricks and mortar, and he is licensed to sell businesses. Often they are combined where a buyer is buying both an operating business and the building from which it operates. And while that is the optimal situation it is not always the case. The real estate and the business within it are two separate things, and need to be treated as such.
In your typical real estate transaction, a purchaser is required to deliver to the seller the balance of the purchase price after adjustments in the form of “a bank draft, certified cheque, or wire transfer”. Law offices have traditionally preferred certified cheques for several reasons. First, a certified cheque ensures the funds are available in the account it was issued from. This avoids the recipient bank’s requirement to hold large sums for several business days before they are cleared. A second reason why certified cheques have been the industry standard is that firms acting on opposite sides of a deal are often close to each other. This meant that on closing day, the lawyers would exchange certified funds and keys directly with the other law office.
As expected, moving into the late fall and early winter months, the market activity slows somewhat. People are simply less likely to buy a home in December and January as compared with April, May and June.
So, you are looking to purchase a second property! Congratulations! This is a great opportunity for you to expand your financial portfolio and ensure stability for the future
Over the years RE/MAX Garden City has had the privilege of meeting and working with a number of fine people. People who greatly enrich your life simply because of who they are. One of those very special individuals was a man named Tony Tripodi. Tony joined RE/MAX Garden City Realty back in 1987 and brought with him not only 18 years of experience in real estate but also the enormous respect he had earned in the industry. Over the next 33 years he proved to be not only an outstanding realtor and co-worker but also a dear friend to many.
Forgive me, but today I am going to rant! I think you all know I believe in real estate investment. That hasn’t changed. And the basic premise of the Money Machine seminar is developing an investment portfolio, largely composed of residential rented property that will provide you with a steady stream of passive income into retirement. That hasn’t changed. But I believe I have a responsibility to tell both sides of the story. The good as well as the bad. And while being a residential landlord has always had its challenges, in some ways it’s getting tougher still.
When a couple owns real estate together and have decided to sell their home and live separate and apart, a separation agreement will be necessary. This is true whether the couple is married, common-law, or are partners in a short-term relationship. This article focuses on the importance of understanding the equity in your home, considers what issues might be covered in an agreement, and explores when a party should seek legal assistance for the purpose of having a separation agreement prepared.
Moving on into the Fall, the market in Niagara continues to show remarkable strength. As one might expect, there is a slight dip in the number of sales recorded in August and September over the late spring and summer figures, but not much. In August, a total of 1003 sales were recorded across the region and in September the numbers had dropped slightly to 981. When compared to the record 1047 set in July, that represents a drop of 4.20% for August and a further drop of 2.19% in September, and that is in keeping with previous trends for this time of year.
Generally in our Money Machine seminars and related articles we concentrate on residential rentals. The reason is that for the novice investor it’s both easier to understand and easier to get into the residential investment market than it is commercial. Having said that, however, Commercial is a very valuable avenue for real estate investment and needs to be considered.
Did you know the biggest difference between getting your mortgage from a bank vs. a mortgage broker is that the bank only has access to their products, while I, your mortgage broker, have access to hundreds of different lending institutions and mortgage products to fit your unique needs?