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Have you ensured this important home buying necessity?

Have you ensured your home purchase deal includes an inspection immediately before closing?

It’s the night before closing, the seller has moved out and the buyer wants to do a last-minute inspection to ensure there’s been no damage since the last visit.
Is she or he entitled to a day-of-closing inspection if there is no clause in the purchase agreement allowing a final check?
The court case most often cited as support for a right to final inspection is  Harkness v. Cooney, a decision of the Waterloo County Court in 1979.

What can happen when a property is damaged prior to closing?

A very interesting case.
What obligations do sellers and buyers have in a real estate transaction when the property has been accidentally damaged – such as by fire – prior to closing? The Superior Court of Justice addressed this complicated issue in Pordell v.Crowther.
The seller, Paul Crowther entered into an Agreement of Purchase and Sale with the buyer, Sam Pordell, on March 7, 2017, and with a June 22, 2017 closing date. Between the agreement date and the closing date, a fire occurred on the property.

Have our homes become our bubbles, a trend that won’t burst?

A very interesting take about a different meaning of "home":
It’s in the housing market, one of the biggest sectors of the economy, that we’re seeing some of the pandemic’s early lasting changes to the way we live.
The unexpected recent surge in housing prices has obscured seismic shifts far more important than frenzied activity in the market itself.
Five months into Canada’s first pandemic, a new-found importance of “home” has taken hold.
Home is no longer merely where you live.

This tiny Toronto house just sold for $800K over asking

A tiny Toronto house that hit the market for $1 million has just sold for $800,000 over its asking price.
The two-bedroom, one-bathroom home located on Euclid Street in Little Italy went up for sale in July and received lots of attention for its high asking price.
The bungalow, which has a detached garage, just steps away from shops, restaurants, bars, parks, schools, and public transit but is noticeably very small.

GTA landlords struggle to evict man from 11 luxury homes he's using as rooming houses

The Ontario Residential Tenancies Act, 2006 is often more generous to the Tenants than to the Landlords.
Here is one of the examples.

More Canadian homes sold in July than any other month in past 40 years

More homes were sold in Canada this July than any other month on record, as the COVID-19 pandemic has reshaped demand and pushed prices to all-time highs.
The 62,355 sales in July 2020 marked the highest monthly sales figure on record, with data going back more than 40 years.
Sales in July were up 30.5 percent compared with the same month a year ago and up 26 percent from June, rebounding from lows of earlier this year when the COVID-19 pandemic froze the market.

How homebuyers are heeding the pandemic push

The current pandemic situation is causing huge behavioural changes among Millenials.
According to Statistics Canada’s recent report, COVID-19 may cause homebuyers to spread “further away from pricier cities like Toronto and Vancouver to be able to afford larger houses.”

Ontario’s Bill 184 poses risks to honest landlords, sellers and purchasers

At the risk of being chased with pitchforks, I’ll say it: Bill 184 is not an unapologetic piece of pro-landlord legislation. I say this as someone who worked and volunteered at Parkdale Community Legal Services in the landlord and tenant division. I defended tenants exclusively in and out of the Landlord and Tenant Board and, without hesitation, I assert – the ethics of the landlord and tenant are more important than any legislation.

Attention! Nearly 100 units hit the market in one Yorkville condo

And the reasons are? Building’s large number of listings possibly demonstrates the Airbnb problem.
Months into the COVID-19 pandemic that has wreaked havoc on the short-term rental industry, one Yorkville building provides a snapshot into the city’s current downtown rental market.

New condo sales drop by 85%!

The pandemic restrictions, especially in the short-rental market, hurt the real estate market quite badly.
In terms of new condo apartment sales during the second quarter — when the province was largely shut down as it grappled with the COVID-19 pandemic — a total of 1,385 units were sold in the GTA.
There was the lowest level of sales activity since the first quarter in 2009 during the recession when 885 units sold.

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