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Cancelling a Real Estate Offer in Ontario
You may have seen the phrase "this offer shall be irrevocable by" on your Agreement of Purchase and Sale during a real estate transaction in Ontario. This phrase usually contains a specific date and time and states "after which time,...
Ontario Condominiums 101: Part 2 – Protections for condominium owners of new units
Last week, we took a brief look at condominium corporations, the declarations that they can make and how they are governed in Ontario. Once the turn-over meeting has occurred and the newly elected board of directors is in place, the...
Ontario Condominiums 101: Part 1 – What is a condominium corporation?
According to Statistics Canada, new condo construction has been the dominant form of residential construction in Canada since 2012. While most people think of condominiums as a type of building, they are first and foremost a system of ownership. In...
Federal Budget 2019
Real estate professionals at Merovitz Potechin LLP are considering the impact of possible incentives for first time homebuyers recently announced by Federal Finance Minister, Bill Morneau, in Federal Budget 2019. The marquee announcement is the creation of a shared equity...
Ontario Condominium Status Certificates
An Ontario Court of Appeal decision regarding condominium status certificates should be of interest for anyone who is evaluating a status certificate during their purchase or sale of a condominium. In this post, we will take a look at the...
Mortgage Approval Basics in Ontario
Applying for a mortgage in Ontario involves a variety of steps that can often come as a surprise to those that are purchasing their first home. The mortgage approval process can seem lengthy or complicated if new buyers have not...
