Important Changes to the Ontario Non-Resident Speculation Tax (“NRST”)
What is the Non-Resident Speculation Tax? The Non-Resident Speculation Tax (NRST) is a tax on the purchase or acquisition of an interest in residential property located provincewide by individuals who...
View ArticlePurchasing a Condominium? The Importance of a Status Certificate Review
There has been a substantial increase in the number of condominium developments in Ontario over the past decade as the population continues to grow. When purchasing a condominium, obtaining the status...
View ArticleThings to Consider When Buying a Pre-Construction Home from a Builder
When purchasing a pre-construction home, it is imperative to know where to start and what to pay attention to. 1. Mortgage Pre-approval It is important to know your budget and affordability. Whether...
View ArticleCanada’s Ban on Certain Non-Resident Homebuyers
As of January 1st, 2023 the Prohibition on the Purchase of Residential Property by Non-Canadians Act, S.C. 2022, c. 10, s. 235 (the “Act”) came into effect which prevents certain non-residents from...
View ArticleHow to Protect Yourself From Real Estate Title Fraud
Toronto police have reported multiple cases of title fraud in the past couple of months, including one woman who had fraudsters gain access to her condo while she was living in China and sell it. In...
View ArticleLegal Implications When You Back Out of a Real Estate Transaction
As house prices in the GTA reached record highs, the real estate market has been under stress and scrutiny due to a combination of new federal stress tests, mortgage qualification criteria, foreign...
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