📉 12th Jan 2024 - Ontario Home Sold At $800,000 Loss After 11 Failed Attempts To Sell!

💥 Friday 12th January 2024 💥 Divorce And Real Estate - FREE Report! GTA Real Estate Fuel: Daily Highlights! "Expert Reports for Smart Choices: Showcasing Prime Listings!" "GTA Real Estate Fuel: Daily Highlights" is your daily source of high-octane updates in the Greater Toronto Area real estate market. Each day, we provide you with a curated selection of fuel that powers the hottest trends, market insights, and critical updates directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Highlights" cover a wide range of topics, from accelerating market dynamics to igniting investment opportunities and expert analysis. Stay fueled and make well-informed decisions with "GTA Real Estate Fuel: Daily Highlights" as your trusted resource for navigating the dynamic GTA real estate landscape. How can one spouse buy out the other's share of the home in a divorce situation? In a divorce situation, when one spouse wishes to buy out the other's share of the home, several steps need to be taken to facilitate a fair and legally binding transaction. Here is a general guide on how one spouse can buy out the other's share of the home: Property Valuation: Determine the current market value of the home. This may involve hiring a professional appraiser or obtaining a real estate agent's opinion. Equity Calculation: Calculate the equity in the home, which is the market value minus any outstanding mortgage balance or other debts secured by the property. Agree on Terms: Both spouses need to agree on the terms of the buyout. This includes the purchase price, payment terms, and any other relevant conditions. It's advisable to seek legal advice to ensure that the agreement is fair and legally binding. Refinance or Assume the Mortgage: The spouse who will retain ownership may need to refinance the mortgage in their name. Alternatively, if the mortgage allows assumption, they may assume the existing mortgage. Buyout Payment: The buying spouse must provide the funds for the buyout. This can be done through a lump sum payment or through a financing arrangement, such as a mortgage or personal loan. Legal Documents: Draft legal documents to formalize the buyout. This typically involves a Quitclaim Deed, which transfers the selling spouse's interest in the property to the buying spouse. Consult with a family law attorney to ensure all necessary documents are prepared and executed correctly. Release of Liability: The selling spouse should be released from any further financial responsibility or liability related to the property. This is often addressed in the legal documents. Record the Deed: The Quitclaim Deed should be recorded with the local land records office to officially transfer ownership. This step ensures that the change in ownership is recognized by public records. Notify Mortgage Lender: Inform the mortgage lender about the change in ownership. This is important to ensure that both parties' names are appropriately handled on the mortgage and to prevent any future complications. Compliance with Court Orders: If the divorce is part of a legal process, ensure that the buyout complies with any court orders or divorce settlement agreements. Seek Legal Advice: It's crucial for both parties to seek independent legal advice throughout the process. Legal professionals can provide guidance on the implications of the buyout and ensure that the transaction is legally sound. Keep in mind that the specifics of the process may vary based on jurisdiction, the terms of the divorce, and individual circumstances. It's highly recommended for both spouses to consult with legal professionals to navigate the buyout process successfully and protect their respective interests. Ontario home sold at $800,000 loss after 11 failed attempts to sell | Urbanized The Ontario home, located at 1099 Caldwell Avenue in Mississauga, has four bedrooms, four bathrooms, and a two-car garage.  dailyhive.com Read Now ... Hamilton-area realtors report decline in residential sales for 2023 amid high lending rates - Hamilton | Globalnews.ca The Realtors Association of Hamilton-Burlington (RAHB) said there was a decline in residential sales through 2023, about 11 per cent lower than the previous year. globalnews.ca Read Now ... These Toronto residents have no clue how much rent is in the city You'd think Toronto residents would know everything there is to know about rent prices with how much airtime the cost of living in the city gets. W... blogto.com Read Now ... This $3 million Toronto home comes with a dramatic 'floating' roof While this house may be in the heart of Etobicoke, the contemporary design will have you feeling like you've taken a trip to Miami.  Artfully marry... blogto.com Read Now ... The Path of Rent-to-Homeownership Unlock homeownership with our expert guide to rent-to-own homes. Navigate the process seamlessly and achieve your dream home. remaxinfinity.ca Read Now ... This $2 million Toronto bungalow gives you a great view of the sky Looking for the perfect blend of modern comfort and cozy charm? Look no further than 92 Cottonwood Dr. Everything about this home is cute and could... blogto.com Read Now ... Some Toronto parking spots are on sale for more than $100,000. Are they worth it? While the vast majority of parking spaces for sale have gone for significantly less, a $100,000 listing price isn’t unprecedented. thestar.com Read Now ... Here are some of the most expensive houses that sold for over $10M in Toronto in 2023 Luxury house sales in Toronto surpassing $10 million surged by 10 per cent in 2023, according to a real estate broker who says a new tax nudged sellers to the finish line. toronto.ctvnews.ca Read Now ... The 9 people that own all of Toronto’s real estate extremely upset about property tax hike TORONTO - Reacting to news of Toronto Mayor Olivia Chow’s plan to hike property taxes by more than 10%, the 9 or so people that collectively own all Toronto real estate expressed outrage, saying that Chow is making the city unaffordable. thebeaverton.com Read Now ... Condo of the Week: $1.45 million for a loft on the Annex-Yorkville border The 1,500-square-foot property comes with two bedrooms, chic design, a spotless kitchen and a finished basement with its own entrance torontolife.com Read Now ... Montreal home prices rose in December even as sales fell four per cent | CityNews Toronto MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales in December fell four per cent compared with the same month a year earlier. The association says home sales in the region totalled 2,096 for the month, down from 2,191 in December 2022. Throughout the year, the Montreal area saw an […] toronto.citynews.ca Read Now ... Despite easing rates, bank CEOs say clients face $400-$500 monthly mortgage payment hikes at renewal - Mortgage Rates & Mortgage Broker News in Canada An anticipated decline in interest rates over the course of 2024 should help soften the impact of mortgage renewal payment shocks, according to RBC President and CEO Dave McKay. canadianmortgagetrends.com Read Now ... Average long-term mortgage rates rise again, reaching their highest level in 4 weeks | CityNews Toronto LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in four weeks. The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%. Borrowing […] toronto.citynews.ca Read Now ... Spotlight:How to get more money and less mortgage? Start the year with a free mortgage checkup Ask for budget help now — before 2024 takes hold of your time and wallet. cambridgetoday.ca Read Now ... This charming 1930s Toronto house is under $1 million Nestled within the heart of Toronto's historic Cabbagetown neighbourhood, 5 Nasmith Ave. stands as a testament to vintage allure and untapped poten... blogto.com Read Now ... Three Ontario cities named among the best places in Canada to live this year Six Canadian cities have been named the best to live in based on factors including affordability and safety. Of the cities, three are in Ontario, o... blogto.com Read Now ... Global Real Estate Prices Saw A Boom… Now They’re Going Bust - Better Dwelling Global real estate prices are falling, especially in more advanced economies. Bank of International Settlements (BIS) data shows real home price growth was negative for most markets in Q2 2023. The same advanced economies that saw the largest growth post rate cuts, are now leading the way lower. They also appear to be struggling with […] betterdwelling.com Read Now ... Canadian homeowners face large increases to property taxes Several major cities have approved or proposed major property tax hikes this year as municipalities struggle with inflation, high interest rates, crumbling infrastructure and soaring demand for services. ctvnews.ca Read Now ... This $8 million Vaughan mansion looks like a Venetian palace Prepare to be captivated by the grandeur and opulence that defines the essence of 33 Riverside Blvd.  This gated and private estate stands as an ep... blogto.com Read Now ... TD spells out dangers of Bank of Canada cutting rates too soon Inflation cooling seems to be spreading to more components of the economy, according to a new analysis mpamag.com Read Now ... Could 2024 mark a turning point for would-be homebuyers? Market conditions could see a big shift in urban areas mpamag.com Read Now ... Are Heated Floors in Your Home Worth It? Read this to decide whether heated floors are right for your home and budget. moneytalksnews.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!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any GTA 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 Low or Zero down With Bank Cash-Back + Cash For Renovations & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | ManojAtri.ca SearchRealEstateInToronto.ca | Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • Blog • Pinterest • Tumblr Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. If you no longer wish to receive these Emails, please Unsubscribe Here