Tag: Buyer

Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act

Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act On January 1, 2023, the federal government implemented the Prohibition on the Purchase of Residential Property by Non-Canadians Act and regulations (together, the “Act”) barring non-Canadians from...

By Nathan Serratore of Merovitz Potechin LLP on Tuesday April 11, 2023.

Buying and Selling a Home

Buying or selling a home are big steps in your personal and financial life. You may have questions regarding the steps involved when buying or selling a home and in what order to complete certain items. The following checklists are...

By Noah Potechin of Merovitz Potechin LLP on Wednesday June 1, 2022.

Agreement of Purchase and Sale: Put it in writing.

You have decided to purchase or sell your home. The next step is to enter into an agreement of purchase and sale. It is important that the agreement be set out in writing, as per the Statue of Frauds. The...

By Noah Potechin of Merovitz Potechin LLP on Monday February 8, 2021.

The Sellers Say They Won’t Close: Will the Courts Make Them?

Rising real estate prices create incentives for sellers to try to get the most out of their agreements. The hot markets in most of Ontario since the initial pandemic restrictions were loosened are no exception, and we have seen an...

By Eric Lay of Merovitz Potechin LLP on Monday October 5, 2020.

Updated Repair and Warranty Deadlines for New Home Builders and Buyers

On July 6, 2020, Tarion announced the reinstatement of certain statutory timelines that had previously been suspended pursuant to Ontario’s Emergency Order. Builders and buyers should take note that the following rules will apply to builder repairs, warranty submission timelines,...

By of Merovitz Potechin LLP on Tuesday August 18, 2020.

The Federal Home Equity Capital Gains Tax

As federal and provincial government deficits skyrocket due to COVID-19 support payouts such as the CERB, governments at all levels will be searching for new revenue sources in the not-so-distant future to try and balance budgets. One way to accomplish...

By Merovitz Potechin on Tuesday August 11, 2020.