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Buying a Home with Rental Contracts

Posted on Jul 20, 2023

Here's what you need to know when buying a home with rental contracts, especially if you're purchasing in Southwestern Ontario where I work. Many homes are sold with rental items, the most common being a hot water tank which could be rented through providers like Reliance or Sandpiper.

Other potential rental items could include a furnace and air con...

June Real Estate Market Update

Posted on Jul 12, 2023

Hello, St. Thomas! Here is your market update for June 2023. We saw new listings coming in at 87. There were 54 homes that traded hands, which is up 12.5% from this time last year. We are currently sitting at 1.7 months of inventory, down by 1.1 months. The average home price rose to $586,738, and the median days on the market sits at 10.So, what d...

Timing the real estate market

Posted on Jun 29, 2023

This is one thing that you need to know about timing the real estate market: It's rare to hear people express regret over buying a property when they needed it, even if the timing wasn't perfect or interest rates were high.Untimely as it is, the need for a home is more important than timing or interest rates. Lifestyle factors should also be consid...

What Happens When a Buyer Doesn't Close

Posted on Jun 20, 2023

The real estate market has changed over the past year, and when things start to shift, it's possible that a buyer may not close on a property. So, what happens when a buyer does not close on a property? The seller does not automatically get the buyer's deposit back. In most cases, the seller must go through a legal process to obtain the deposit bac...

How to Calculate Your Land Transfer Tax

Posted on May 31, 2023

If you are buying a home in Ontario, we all have to pay a provincial land transfer tax. Here is a simple formula you can use to calculate it for any property. The land transfer tax formula is 2% of the purchase price minus $3,525.

So let's use this formula to calculate the land transfer tax on a $600,000 home. If you take your purchase price of $600...

Flipping real estate in Canada vs USA

Posted on May 18, 2023

Flipping investment real estate in Canada versus flipping it in the US are two completely different mindsets. For various types of real estate properties, including houses, multifamily residences, and commercial buildings, the process involves purchasing, renovating, and selling them for profit in both Canada and the US.

That's the same. The biggest...

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