Sheriff Sales, Foreclosures, and Power of Sales in Ontario: What Buyers Should Know Introduction In Ontario, buyers interested in distressed properties often encounter three types of sales: Sheriff sales, foreclosures, and power of sales. Recently, Sheriff sales have gained attention in the media, and understanding each option’s nuances can make a world of difference when navigating Ontario’s real estate market. Here’s a breakdown of the positives and negatives of each... [read more]

Homebuyers, sellers, market watchers and the broader Canadian real estate industry keep a close eye on the Bank of Canada’s interest rate announcements every six weeks. They always make headlines and can have a pronounced effect on the housing market, depending on which direction the Bank moves. So, how will the rate impact your mortgage? Let’s find out. How Will the BoC Interest Rate Impact My Mortgage? We consider many variables in life before making any big decision, and... [read more]

For many Canadians, the next step after completing their education and securing a job is buying a home. Home ownership is, after all, the Canadian dream. While it’s common knowledge that saving up for a down payment is the first step to eventually buying a home, many are not aware of the mortgage stress test. So, what is the mortgage stress test in Canada? To put it simply, the mortgage stress test is a mortgage qualifier tool used to determine if the borrower would... [read more]

Selling your home is not only a big decision financially, but also emotionally. Your home is no longer the bricks, drywall and hardwood floors you fell in love with when you bought it. You have tackled some of life’s many milestones and made memories in the house you now call “home.” Whether you have simply grown out of the house, are choosing to downsize, or are looking for a new location, there are many factors that may influence your decision to sell your house. It is... [read more]

The federal government’s new mortgage rules will significantly reduce down payments for home buyers on homes worth more than $1million. These new rules, which take effect December 15, will require buyers to put down a minimum of 5 per cent on the first $500,000 of the purchase price and 10 per cent on the portion between $500,000 and $1.5 million, the new guidance shows.  So on a home that costs $1,000,000 the minimum down payment will be $75,000 down from $200,000 under... [read more]