𒂶 5th Feb 2024 - What Do You Do When You Are Stuck With A Pre-Construction Home Or Condo?

💥 Monday 5th February 2024 💥 11 Home Inspection Pitfalls - FREE Report! GTA Real Estate Dive: Daily Sizzlers! "Empowering Your Home Experience: Comprehensive Reports & Desirable Listings!" "GTA Real Estate Dive: Daily Sizzlers" is your daily plunge into the most sizzling and impactful updates in the Greater Toronto Area real estate market. Each day, we present you with a curated selection of updates that make a splash, featuring the hottest trends, market insights, and critical updates delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Sizzlers" series covers a wide range of topics, from diving into market dynamics to exploring investment opportunities and expert analysis. Dive into the excitement and make well-informed decisions with "GTA Real Estate Dive: Daily Sizzlers" as your trusted resource for navigating the dynamic GTA real estate landscape. How Can Homebuyers Identify Red Flags in a Home Inspection Report that Inspectors Might Miss? Identifying red flags in a home inspection report is crucial for homebuyers to make informed decisions about a property. While professional home inspectors are trained to catch many issues, there are areas that might be overlooked or downplayed. Here are some strategies for homebuyers to identify potential red flags: Conduct Your Own Inspection: Before the official home inspection, tour the property yourself. Look for signs of water damage, structural issues, and any visible problems. Research the Inspector: Choose a reputable and experienced home inspector. Check reviews, ask for referrals, and ensure the inspector is licensed and adheres to industry standards. Attend the Inspection: Attend the inspection in person. This allows you to ask questions, seek clarification on issues, and get a firsthand look at potential concerns. Review the Report Thoroughly: Take the time to read the entire inspection report. Pay attention to any flagged issues, even if they are described as minor. Look for consistency in the descriptions. Ask for Clarification: If something in the report is unclear, ask the inspector for clarification. A good inspector should be willing to explain findings in a way you can understand. Verify Repairs: If the seller agrees to address certain issues found in the inspection, verify that the repairs have been completed before proceeding with the purchase. Specialist Inspection: For specific concerns (e.g., foundation issues or roof problems), consider hiring a specialist for a more in-depth analysis. Look for Patterns: Identify patterns of issues. If multiple areas of the home show signs of similar problems, it could indicate a more significant underlying issue. Check Local Regulations: Be aware of local building codes and regulations. Some issues might be grandfathered in, but they could still pose risks. Consider the Age of the Property: Older homes may have issues related to aging systems and materials. Ensure the inspection addresses the specific challenges associated with the property's age. Hidden Issues: Be aware that some issues may not be visible during a standard inspection, such as hidden plumbing problems or electrical issues behind walls. Consider additional assessments if needed. Review Past Inspection Reports: If available, review any past inspection reports. This can reveal recurring issues that might have been addressed but resurfaced. Remember, the goal is not to find a perfect home (as almost every home has some issues) but to be aware of the scope and severity of potential problems. A thorough understanding of the inspection report empowers you to negotiate repairs with the seller or make an informed decision on whether to proceed with the purchase. If in doubt, consult with professionals, such as contractors or structural engineers, for a more in-depth analysis. What do you do when you are stuck with a pre-construction home or condo? Home-buyers face prospect of being unable to raise cash to close, while higher interest rates drive occupancy fees up thespec.com Read Now ... Quebecers take to the streets to defend lease transfers Protestors took to the streets of Montreal's Rosemont-Petite-Patrie borough on Saturday in defence of tenants' rights to use lease transfer to limit rent increases. montreal.ctvnews.ca Read Now ... Edmonton condo sales increase, raising hopes for market comeback | CBC News The benchmark price for apartment-style condominiums in Edmonton was up at the end of 2023 — the first increase to close out the year since 2014. cbc.ca Read Now ... Vancouver home sales rise in January as demand outpaces newly listed properties It was still 20.2 per cent below the 10-year seasonal average of 1,788 for the month westerlynews.ca Read Now ... This $2.5M home outside of Toronto will make you want to leave the city Nestled on a hillside above the Pine River, just outside of Toronto, sits a truly remarkable property. 605094 River Rd. looks like an unassuming lo... blogto.com Read Now ... FIRST PERSON | My 18-year-old son pays us rent, and I couldn't be more proud of him | CBC News Helena Wiest wishes her son could maintain his carefree childhood for longer, but as uncomfortable as it was to talk about money, she’s glad that she did. cbc.ca Read Now ... This Week’s Top Stories: Canadian GDP May Delay Rate Cuts & Record Unsold Condos - Better Dwelling Time for your cheat sheet on this week’s top stories.  Canadian Real Estate Vancouver Laundering Model That Inflated Home Prices Moves To Toronto   Greater Toronto is increasingly showing signs a money laundering technique known as the “Vancouver Model” has moved there. A casino was hit with an $80k anti-money laundering fine after a patron flagged […] betterdwelling.com Read Now ... Province wants three Vancouver properties forfeited The B.C. government wants three Vancouver properties forfeited because the tenants were using them to produce drugs and launder cash. timescolonist.com Read Now ... Muskoka Lakes hosting public meeting on Short Term Rentals - South Muskoka Doppler From the Township of Muskoka Lakes: As you may be aware, Planning Committee for The Corporation […] southmuskoka.doppleronline.ca Read Now ... Protesters take to Montreal's streets to oppose Quebec housing bill Protesters gathered in the Montreal neighbourhood of La Petite-Patrie on Saturday afternoon to voice their opposition to Quebec's Bill 31 and the province's housing minister. If adopted, the housing bill would allow landlords to reject any request for a lease transfer — which some tenants see as a way of limiting rent increases — without specifying why, and then cancel the lease. "Tenants in Quebec are suffocating," said Cédric Dussault, spokesperson for Regroupement des comités logement et asso ca.news.yahoo.com Read Now ... Unregistered B.C. mortgage broker who ignored 'cease and desist' order fined $50K A B.C. man who operated as an unregistered mortgage broker for more than two years has been fined $50,000 by a provincial regulator. bc.ctvnews.ca Read Now ... Ottawa to extend foreign home buyer ban another two years | Globalnews.ca Finance Minister Chrystia Freeland said the federal government is extending its ban on foreign homebuyers for another two years as part of efforts to ease Canada's housing crisis. globalnews.ca Read Now ... How Government Bond Yields Relate to Mortgage Rates Government bonds impact mortgage rates, shaping the housing sector and household budgets, playing a crucial role in the economic landscape. blog.remax.ca Read Now ... Fixed mortgage rates in Canada resume decline amid economic volatility - Mortgage Rates & Mortgage Broker News in Canada After a short-lived upswing in bond yields last month that nudged some fixed mortgage rates higher, lenders are once again bringing them back down. canadianmortgagetrends.com Read Now ... Questions to ask when renewing your mortgage - Mortgage Matters Approximately half of all mortgages in Canada are set to renew in 2025 or 2026, due in part to the real estate frenzy that transpired over the course of the COVID-19 pandemic when there were record low interest rates. castanet.net Read Now ... Vancouver home sales rise in January as demand outpaces newly listed properties The Real Estate Board of Greater Vancouver says home sales got off to a strong start in the first month of 2024 but the pace of newly listed properties did not keep up with demand. bc.ctvnews.ca Read Now ... Legal battle over real estate commissions goes national with second class-action claim GTA real estate commission lawsuit expands into a nationwide legal battle countyweeklynews.ca Read Now ... How concerned is the Bank of Canada about the mortgage market? Economists on how the central bank is viewing the outlook for the sector mpamag.com Read Now ... Saskatoon woman fears homelessness as she navigates difficult housing market A Saskatoon woman is fearing homelessness as she navigates the difficult housing market. saskatoon.ctvnews.ca Read Now ... Supply shortage, not interest rates, causing housing crisis – Macklem Central bank governor calls for renewed government focus on boosting inventory mpamag.com Read Now ... 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!" 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