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GTA Real Estate Watch: Daily Updates!"Uncover hidden gems in the Market with our Reports and sought-after Listings!"Welcome to "GTA Real Estate Watch: Daily Updates!" Our daily newsletter is your watchful eye on the latest updates, trends, and insights in the Greater Toronto Area real estate market. We understand that staying vigilant is crucial, so our newsletter delivers the most relevant and impactful information directly to your inbox. Whether you're a buyer, seller, investor, or industry professional, our curated content covers a wide range of topics, including market updates, new listings, investment opportunities, and expert analysis. Keep a close watch and make informed decisions with our daily updates. Subscribe now to "GTA Real Estate Watch: Daily Updates" and stay in tune with the ever-evolving GTA real estate scene. The Rent-to-Own process in Toronto, also known as a lease option or lease-to-own, is a real estate arrangement that allows tenants to rent a property with the option to purchase it at a predetermined price within a specified period. Here's how the process typically works: Agreement: The tenant and the landlord (or property owner) enter into a Rent-to-Own agreement. This agreement outlines the terms of the lease, including the monthly rent, the duration of the lease term, the option fee, the purchase price, and the option period (usually 1 to 3 years). Option Fee: The tenant pays an upfront option fee or option consideration. This fee is non-refundable and is a percentage of the property's purchase price. It gives the tenant the exclusive right to buy the property during the option period. Monthly Rent: The tenant pays monthly rent as they would in a standard rental arrangement. However, a portion of the monthly rent may be credited toward the future purchase of the property. This is often referred to as a "rent credit" or "rent premium." Maintenance and Repairs: The tenant is typically responsible for the property's maintenance and repairs during the lease term. This encourages them to treat the property as if it were their own. Option to Purchase: The tenant has the option (but not the obligation) to purchase the property at the agreed-upon price within the option period. This gives them time to improve their credit score, save for a down payment, or assess whether the property suits their needs. Purchase Price: The purchase price is determined upfront and is usually based on the current market value. This can be an advantage for tenants if property values rise during the option period, as they can buy at a lower price. Financing and Mortgage Approval: If the tenant decides to exercise the option to purchase, they must secure mortgage financing to buy the property. This often involves a mortgage pre-approval process. Closing the Sale: When the tenant is ready to exercise the option, they proceed with the sale as they would in a traditional real estate transaction. The option fee and any accumulated rent credits are typically applied toward the down payment.
It's important to note that Rent-to-Own agreements can vary in structure and terms. It's advisable for both parties to consult legal professionals and potentially involve a real estate agent who specializes in Rent-to-Own transactions. This ensures that the agreement is fair, legally sound, and protects the interests of both the tenant and the landlord. Additionally, tenants should carefully consider their ability to secure mortgage financing within the specified option period to avoid any complications.
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There are many things to consider when choosing between a variable-rate or fixed-rate loan. Learn how each loan type behaves in different economic environments.
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According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.
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The head of the Ontario Real Estate Association (OREA) will provide insight into Burlington’s housing market at an upcoming session presented by the Burlington Chamber of Commerce Tim Hudak, head of the OREA, will discuss support for realtors, advocacy for homeowners and shifts in the real estate landscape. His presentation will take place Sept. 15 […]
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Sales were up 15.3 per cent and active listings were down 16.6 per cent compared to a year ago
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Sales were up 25 per cent and active listings were up 26.8 per cent compared to a year ago
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Sales were down 6.3 per cent and active listings were up 19.5 per cent compared to a year ago
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To the surprise of many, Canadians have balanced high debt loads and credit quality for over a decade. That era might be over. Transunion Canada data reveals an explosion of subprime borrowers in Q2 2023. Higher living costs and rising rates have combined to produce higher risk borrowers. At the same time, lenders are embracing […]
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An apartment swap, which is a mutually-agreed-upon transfer of two separate leases, allows tenants to find the right home for them during the ongoing housing crisis in Montreal.
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HELOC vs. fixed rate vs. variable rate
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In the fast-paced world of Toronto's real estate transactions, having a proficient legal ally by your side can make all the difference. A real estate lawyer,
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Randy and Pauline Diamond lived in their home for decades. Now they're asking the court to let them sell it.
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Sales were down 10.6 per cent and active listings were up 8.5 per cent compared to a year ago
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Discover what a property valuer is, the different types of property valuation, and the qualifications and licensing requirements for accredited property valuers.
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Touted in recent years as one of Canada’s most affordable cities, Calgary’s rental prices are now increasing faster than any other large market in the country.
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The City of London has collected licensing fees from only a quarter of the people operating short-term rentals listed on Airbnb in the city.
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A push by Mayor Josh Morgan to increase to four from three units allowed in a home for rent was embraced by politicians with full support.
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The London Police Service said a couple were inside an Airbnb on Blackacres Boulevard on July 15 when they located a hidden camera.
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How the Court deals with a home foreclosure depends on whether the mortgage is a high ratio, insured mortgage or a conventional mortgage.
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It's possible to reduce the price of a new home by 50 per cent, writes Philip Mills.
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Mortgage data from Canada’s two biggest banks paint a picture of homeowners straining under high borrowing costs. Read more here.
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Despite interest rates potentially being at or near a peak, borrowers aren't betting on rate cuts anytime soon.
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Canada’s biggest bank is warning investors of an economic slowdown brewing. Gross domestic product (GDP) data for Q2 won’t be released until next week, but RBC expects it to show the economy was hit with a sharp slowdown. Coupled with a mild acceleration to inflation, everyone has one question—is a slowing economy enough to prevent […]
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Have you been wondering how to make money with Airbnb in Canada? Do you want to build a passive income business that makes money while you travel?
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Located on the 25th floor, this 2,300-square-foot unit comes with four bathrooms, two parking spots and a humongous wraparound terrace
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Editor's Note"Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!"
Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any Greater Toronto Area Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®
Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer Upper | Rent-To-Own Homes | All types of Credits
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Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com
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