📉 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

🛠️ 11th Jan 2024 - 10 Ways To Nail Savings On Your Remodeling Project!

💥 Thursday 11th January 2024 💥 Danger! 9 Buyer Traps - FREE Report! Toronto's Daily Real Estate Ignition! "Uncover Your Home Journey: Reports & Hot New Listings Await!" "Toronto's Daily Real Estate Ignition" is your daily source of ignition into the latest and most impactful developments in the Toronto real estate market. Each day, we provide you with sparks that ignite 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 Ignition" covers a wide range of topics, from fueling market dynamics to sparking investment opportunities and expert analysis. Stay ablaze with the market and make well-informed decisions with "Toronto's Daily Real Estate Ignition" as your trusted resource for navigating the dynamic Toronto real estate landscape. What are the potential legal and financial pitfalls of a real estate transaction in Toronto? Real estate transactions in Toronto, like any major financial transactions, can involve legal and financial complexities. It's crucial for buyers and sellers to be aware of potential pitfalls to ensure a smooth and legally sound process. Here are some common legal and financial pitfalls associated with real estate transactions in Toronto: Incomplete or Inaccurate Disclosures: Failing to disclose relevant information about the property can lead to legal issues. Sellers are generally obligated to provide accurate and complete information about the property's condition and any known issues. Title Issues: Issues with the property's title, such as liens, encumbrances, or disputes, can cause delays and legal complications. A thorough title search is essential to identify and address any title-related concerns. Financing Challenges: Securing financing is a critical aspect of the transaction. Buyers should be aware of potential challenges in obtaining a mortgage, such as changes in credit score, loan approval conditions, or interest rate fluctuations. Contractual Disputes: Disputes arising from contract terms and conditions can lead to legal issues. It's essential to have a clear and well-drafted purchase agreement that outlines the rights and responsibilities of both parties. Closing Costs Underestimation: Underestimating closing costs can lead to financial surprises at the closing table. Buyers and sellers should be aware of all potential closing costs, including legal fees, land transfer taxes, and other expenses. Zoning and Land Use Issues: Zoning regulations and land use restrictions can impact a property's use and value. Buyers should conduct due diligence to understand local zoning laws and any potential changes that may affect the property. Home Inspection Challenges: Relying solely on a cursory home inspection or waiving the inspection altogether can lead to unforeseen repair costs. Buyers should invest in a comprehensive home inspection to identify any issues before closing. Failure to Meet Conditions: Purchase agreements often include conditions that must be met for the sale to proceed. Failing to satisfy these conditions within the specified timeframe can result in the termination of the deal. Legal Compliance Issues: Ensuring compliance with local bylaws, building codes, and regulations is crucial. Non-compliance can lead to fines, penalties, and, in some cases, forced changes to the property. Tax Implications: Buyers and sellers should be aware of the tax implications of the transaction, including capital gains taxes, land transfer taxes, and potential rebates. Failure to account for these can have financial consequences. Undisclosed Liabilities: Sellers should disclose any outstanding debts or liabilities associated with the property. Failure to disclose such information can lead to legal action. To navigate these potential pitfalls, it's advisable for buyers and sellers to work with experienced real estate professionals, including real estate agents, lawyers, and financial advisors. These professionals can provide guidance, conduct due diligence, and help ensure that the transaction is legally sound and financially secure. 10 Ways to Nail Savings on Your Remodeling Project Here’s how to save on your next remodeling project with discounted materials and more tips and tricks. moneytalksnews.com READ MORE ... Is the worst behind us? - REM The worst may be over for realtors, but there’s no way of knowing if it’s over for sellers realestatemagazine.ca READ MORE ... This Toronto quadplex is only $1.5 million Twenty-two years ago a lovely couple named John and Madelon bought 47 Grant St. as an investment for their retirement, listing agent Joanne Lake to... blogto.com READ MORE ... How Much Does It Cost To Sell a House? These are the expenses that are essential to consider when listing your home. moneytalksnews.com READ MORE ... Toronto unveils proposed 10.5% tax hike in city budget for 2024 - Toronto | Globalnews.ca City of Toronto's budget chief announced the 2024 budget unveiled Wednesday includes a 9% property tax increase and a 1.5% increase in the city building levy. globalnews.ca READ MORE ... Interest-rate hikes won't crush Canadians as they can cope with loan renewals, banks say Canadians are sitting on savings, earning higher wages and ready to slash their discretionary spending to avoid giving up their homes nationalpost.com READ MORE ... People are listing their short-term rentals in B.C. — and some are selling way below asking price Like Airbnb owners across B.C., Debra Sheets is in a holding pattern. The Victoria resident talked to a realtor about selling her 250-square-foot unit in The Janion building that she bought in 2017 for $420,000. However, she was told she would be lucky to get $350,000, a loss she can’t afford as she nears retirement. With four months until the B.C. NDP’s ban on most short-term rentals that aren’t in the owners’ principal residence takes effect,... msn.com READ MORE ... 5 of the swankiest houses sold in Ontario in December are located in Mississauga and Oakville | insauga If you feel fancy and have the wallet to match, you might have made a big purchase in either Mississauga or Oakville this past December.  According to a recent post by real estate website and brokerage Zoocasa, five of the most expensive homes that changed hands in December 2023 were located in Mississauga and Oakville–places […] insauga.com READ MORE ... New housing report shows how much it costs to live in Barrie 'Most important is that we make progress immediately on the affordability crisis,' says mayor innisfiltoday.ca READ MORE ... People in these Canadian provinces are most likely to buy a new home in 2024 | insauga Home prices, while declining recently, are still out of reach for many Canadians but a new survey finds many residents plan to make the big purchase this year anyway. insauga.com READ MORE ... Carleton Place homes sold for $400,000 under original selling price Two years ago, newly built townhomes in Carleton Place, Ont. sold for nearly $900,000. Low interest rates were a driving force behind the hefty price tag. Now, the same houses are being relisted at a significantly lower price. ottawa.ctvnews.ca READ MORE ... 'Truly high-end': Big Oakville home among the most expensive sold in Canada after hitting real estate market at $3.4 million Home on Taplow Crescent went on the market at nearly $3.4 million and sold for $3.175 million. insidehalton.com READ MORE ... Canmore lays out plans to tax vacant homes, make tourist homes thing of the past | CBC News When the cost of living in Canmore rivals centres like Toronto and Vancouver, tackling housing affordability and availability in the mountain town borrows from those bustling cities. cbc.ca READ MORE ... Calgary rental vacancy continues to drop | CityNews Calgary It's only going to get more difficult to find a place to rent in Calgary, as experts warn of low supply and high migration. calgary.citynews.ca READ MORE ... 'People need to have comfort': House prices keep rising in Oakville but dropping in Burlington while sales drop in both municipalities, new real estate report reveals House prices keep rising in Oakville but dropping in Burlington insidehalton.com READ MORE ... Toronto could see a double-digit tax hike. Here's how much property taxes are slated to go up across the GTA Toronto homeowners may see a double-digit property tax increase this year, but how does that compare to the rest of the Greater Toronto Area? Here's a look. cp24.com READ MORE ... Buyers have upper hand in Waterloo region's housing market but barely, says realtors' association | CBC News Amid the ups and downs of the real estate market over the last few years, Christal Moura, president of the Waterloo Region Association of Realtors (WRAR), said that in 2024, we’ve landed on buyers having the power in the region. cbc.ca READ MORE ... Bank of Canada May Revive Real Estate Buyer Exuberance By Spring: BMO - Better Dwelling Exuberant Canadians are hooked on real estate, and consequently are following the central bank unusually close. A new report from BMO shows households have shifted price growth expectations with Bank of Canada (BoC) announcements. As the rate tightening cycle comes to an end, the bank sees the potential for the next round of central bank […] betterdwelling.com READ MORE ... “I never thought I could afford a home in the Beaches. Then I built my own laneway house” Joey Bilewicz, a 32-year-old producer and production manager, put up a three-bedroom home on his parents’ lot for $650,000 torontolife.com READ MORE ... Canada mortgage holders can cope with renewals - banks They won't be crushed, apparently… mpamag.com READ MORE ... 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