Last Updated:
April 2, 2024

Posts tagged "real estate lawyer"
Per Page :

Using Title Insurance for Unexpected Events

Sure buying a home is expensive, but cheating yourself out of title insurance is one costly mistake.  Title insurance is so cheap it’s surprising not everyone has it. You pay just a few hundred dollars for a one-time premium when you buy your home.  But not having title insurance in Ontario can cost you thousands. Quick Reads Is title insurance mandatory in Ontario? Does title insurance cover both future and past events? How do I get protection from future events? Image by Oner Peytob | Pixabay. Mandatory vs Definitely Worth Having: Title Insurance in Ontario Title insurance is not mandatory in Ontario, but it’s well worth the cost. It’s not a replacement for legal advice, but it can save you grief if a legal conflict arises. Prevent a title insurance scam.  Sophie’s Illegal Suite Take Sophie. The Canadian home buyer was ordered by city inspectors to remove an illegally built inlaw suite from a home she purchased. What happens if a previous owner failed to get building permits.  Sophie, who thought she was buying a home with extra accommodation, used her title insurance policy to change the space. Instead of adding a costly interior staircase the city required to approve the inlaw […] read more
0 Views : 12

False Pretences — Stop Organized Crime Homeowner Impersonators

Forged or fake documents may be all it takes for homeowner impersonators to steal your home. Organized crime is laundering its dirty cash through real estate frauds that target Ontario and Canadian homeowners.  Take action before real estate fraud chips away at your foundation. How Homeowner Impersonators Get Your Title Who is that stranger on your driver’s licence? Welcome to identity theft, where appearances are never what they seem. You may not know the criminal posing as you, but they know enough about you to take your home.  Who’s the Target You’re never too old or too young to be a victim of real estate fraud in Canada, especially if you: spend your winters abroad are an absentee landlord or paid your mortgage in full.  A Classic Case of Real Estate Fraud A Toronto-area couple who lost their home to homeowner impersonators wants you to know it could happen to you. Their title was stolen when they moved overseas to work. Three top scams according to Toronto real estate fraud lawyers.  “Stephanie” and “Derrick” were looking forward to moving back home. Little did they know homeowner impersonators had closed their mortgage loan under false pretences. Not only that, but the transfer fraudsters […] read more
0 Views : 13

What Millennial Home Buyers Are Doing Now

High interest rates and low demand could make you think millennial homebuyers are outwaiting  Ontario’s housing market. Think again.  This is why.  Who’s Buying Homes in Ontario’s Housing Market Millennials who’ve been living at home or in shared housing to save for a downpayment are poised to hit Ontario’s housing market hard when house prices drop. Early millennials are turning 40. The urge to invest in real estate couldn’t be realer. Know the mortgage risks and consequences.  Gen X and millennials are driving the housing market in Ontario. Boomers who renovated during the pandemic are staying put, at least for now, and that makes affordable housing harder to come by. How much to save for the first time homebuyers’ amount. What’s Ahead for Millennial Homebuyers With a Canadian-style recession in the wings and interest rate hikes not out of the red just yet, Canada Mortgage and Housing Corporation (CMHC) predicts housing prices will drop an average of 15% by spring 2023. That combination won’t improve housing affordability for millennials. But it will make prices lower when interest rates finally chill out. CMHC sees lower inflationary pressures and interest rate declines converging by mid-2024. That should compensate for the rapid growth in housing prices […] read more
0 Views : 10