Mortgage rules changed this year, causing some confusion in the market for homebuyers and homeowners alike. However, navigating these changes is relatively simple. With smart financial planning and saving practices you should still be able to finance your dream home while building your savings.

For prospective homebuyers, the biggest change is a reduction in the amortization period - the amount of time after which, if all monthly payments are made on time and in full, the mortgage loan will be repaid.

Disclosure Statements are voluntary in Ontario and elsewhere in Canada.  

LATENT DEFECTS

A Seller has an obligation to disclose latent defects such as disclosing if the property is dangerous or likely to be dangerous or unfit for habitation (ie: mould issues etc.)

A seller is not liable of a latent defect if they had no knowledge of such defect.  A seller must disclose any deficiencies to Read more....

TFSAs have been a welcome addition to the tax shelter landscape in Canada, but they leave something to be desired for those with substantial assets and maxed out RRSP and TFSA room.

Parnes Rothman Real Estate Lawyers is pleased to announce the official launch of our  ONE-OF-A-KIND FREE Closing Cost Quotation System! 

Highlights

1. Get an instant quote for the LEGAL FEES of any Real Estate Transaction (purchases, sales, refinance and transfer of ownership)

    

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