Appliances

Sellers are required to guarantee that your appliances are in good working order on the day of closing. What happens if the fridge breaks two days later? Any damage that occurs after the date of closing is the responsibility of the buyer. So, that stove is your repair cost. There are companies that will do… Continue reading Appliances

How Low Can it Go?

We’re talking about the 10-year fixed mortgage rate.  Last year we saw them dip below the 4% mark (see some previous posts from last year: 10-Year Mortgage Below 4% & Should You Consider a 10-Year Mortgage?) and many Canadians started to make the switch to the previously unpopular 10-year term.  The 10-year mortgage continues to be popular this… Continue reading How Low Can it Go?

Good fences make good neighbours

Last week, I blogged about whether you have to disclose a crime that once occurred in your home. Today’s question: do you have to disclose the neighbours? Generally speaking, as long as you aren’t asked, you don’t have to disclose anything about the neighbourhood. You can’t lie and say that the neighbours have no dogs,… Continue reading Good fences make good neighbours

Debt Service Ratios — What are They?

When applying for a mortgage, one of the things lenders look for is whether or not the person/people applying for a mortgage can afford the mortgage payments.  Makes sense, right?  Obviously if they’re going to lend someone money to purchase a house, they want to be sure they can afford the payments each month. There… Continue reading Debt Service Ratios — What are They?

Do you have to disclose what happened in your house?

In 1996, in a home in Bowmanville, Ron England stabbed his mother and stepdaughter to death while suffering from paranoid schizophrenia. In the fall of 2011, Eric and Sade-Lea Tekoniemi purchased the property. Once they discovered the events that had occurred years earlier, Sade-Lea developed heart palpitations and anxiety attacks, and the couple has now… Continue reading Do you have to disclose what happened in your house?