By Jennifer Lynn WalkerHomebuyers beware: banks are tightening up their protocols. While you may be approved for financing, your deal may still fall through because the bank turns down the house or building you want to buy.It’s happening. And when it does, it creates...
By Jennifer Lynn Walker Having the right mortgage broker can be the difference between buying that dream house or missing out. It’s particularly important here in Quebec. A broker who doesn’t know our laws and doesn’t speak the language can cause serious delays that...
By Jennifer Lynn WalkerAt a recent weekly real estate broker meeting, a manager brought up a situation that was affecting a buyer and the purchase of a home. The deal was accepted but when it came time for the buyer to find insurance for the house, he couldn’t...
The Canada Revenue Agency (CRA) is smartening up and putting a new rule in place starting for the 2016 taxes, that requires all taxpayers to report the sale of their principal residence, whether they owe tax or not. Sales of primary residences have long been immune to...
When you make that first visit to a real estate broker, you will be asked: “Have you been to the bank?” or “Have you talked to a mortgage broker?” It’s surprising how many people reply defensively: “Why are you asking? I have the money!” Perhaps these prospective...
By Jennifer Lynn Walker When you decide to put your house up for sale, you can guarantee you’ll incur expenses before the sale. Here’s a list to help you plan. These might not all pertain to you, but you can bet at least some of them will: Home staging Your real...
By Jennifer Lynn WalkerNew real estate investors often think of repossessions as a way to get started in the business. A repossession happens when property owners can’t pay their mortgage. The bank takes over the property and sells it to recoup its money.The idea that...
By Jennifer Lynn Walker Great story on how banks can say no Recently I worked with a client that put an offer on a house in Lachine down by the water. It was a turn of the century duplex with a crawl space. The roof needed to be done and the foundation needed some...
By Jennifer Lynn Walker A lot of people enter the real estate market without understanding all of the costs involved in a deal: a building inspection, land transfer tax, notary costs, adjustment costs at the signing, insurance, immediate renovation costs… Last but not...
By Jennifer Lynn Walker Buying a house is a big investment. Most buyers, when shopping around, look at the selling price along with the municipal and school taxes. But there are many more costs involved that will drastically affect your day-to-day living and...
