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First Time Home Buyer Incentives in Ontario

Thursday Sep 14th, 2017

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  Are you a first time home buyer in Ontario? Did you know that when you buy a house in Ontario, you pay land transfer tax? First-time homebuyers may be eligible for a full or partial refund of that tax. You are only eligible for this refund if you or your spouse has never owned a property in Canada. If you or your spouse have previously owned property or had interest in a property you do not qualify for the first-time homebuyer land transfer tax refund.   To... [read more]

New Condo Act Rules Moving Forward

Tuesday Jul 25th, 2017

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The provincial government has announced that it is moving forward with recent changes to the Condominium Act to provide increased consumer protection for condo owners and residents.  TREB participated in the government's consultations on this issue and pushed for these changes. The Minister of Government and Consumer Services announced that the following new protections for condo communities will take effect this fall: Regular mandatory updates about the condo corporation to... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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