By: Mary Coughlan

Ontario Energy and Property Tax Credit

Tags: real estate

Ontario Energy and Property Tax Credit This credit helps low- to moderate-income individuals with property taxes and the sales tax on energy. The credit is part of a single benefit called the Ontario Trillium Benefit. How much money could I receive? For the 2014 benefit year, you could get: up to $973* if you are a non-senior ($757* to help with property taxes and $216* to help with sales ta...Read More

By: Mary Coughlan

Offer To Purchase Form

Tags: real estate

Understanding the Offer to Purchase Form is essential once your house hunting expedition is a success! You have found the perfect home, one that satisfies your needs, most of your wants... and best of all, fits your pocketbook. Now comes one of the most important phases of your home-buying experience: making an offer to purchase the home. Basically, the offer is a precisely worded document that...Read More

By: Mary Coughlan

Plans of Survey

Tags: real estate

Condominium (Condominium Apartments & Condominium Townhouses) A Survey Clause in an Agreement of Purchase and Sale is NOT NEEDED since condo plan surveys are ALWAYS on file in the land registry system and are too bulky for dealing with copies in processing a sale transaction. For Non-Condominium Properties (Detached, Semi-Detached, Link & Freehold Town Homes) If a purchaser obtains titl...Read More

By: Mary Coughlan

Closing Adjustments

Tags: real estate

An Agreement of Purchase and Sale states that the balance of the purchase price on the closing date will be paid by bank draft or certified cheque subject to the usual adjustments. The certified cheque required from purchasers by the law office for closing will include any such ADJUSTMENTS payable on closing. ADJUSTMENTS BETWEEN PURCHASER AND VENDOR (RESALE): On a resale home, adjustments consis...Read More