Modern Kitchen

FAQs

Local Professional Advice

 

Do I need a real estate lawyer to buy or sell?

Yes. Closing a purchase is not that simple. You will need a lawyer specializing in real estate to assist you in title searches, lien searches, transferring deeds, assisting with land transfer tax, ect. Click on the question icon to learn more.

Approximate prices are:

Buying $1,500 + adjustments

Selling $1,200

Is there a good time of year to buy or sell?

Normally, yes. However, the current pandemic has thrown out the rule-of-thumb for predicting the market. Typically, the time of year to avoid Selling is over the Christmas holiday. Buying a property is best when there is more inventory to choose from. However, more inventory means more buyers to compete with.

What documents can I expect to see during a purchase?

There are many documents you will come across while buying a property. All are designed to protect you as a buyer. Click the question icon above to see some samples. 

What does the Mortgage Stress Test mean?

The new mortgage rules require that all mortgage applicants qualify at a rate that’s two per cent higher than your contracted rate or the Bank of Canada’s five-year benchmark rate. This is to ensure that borrowers will be able to make their mortgage payments should interest rates increase. Click on the question icon to learn more.

Do I really need a home inspection?

Because the current market is extremely competitive we are seeing Buyers offering without a home inspection condition. I always recommend protecting yourself as much as possible. A home inspector will give you peace-of-mind when purchasing the largest asset in your life. Click the question icon to learn more.

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