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Scathing Report of Condo Sector Raises Flags

Initial condo fees set by developers are typically understated to attract potential buyers. This is according to Ontario’s auditor general, Bonnie Lysyk, whose 2020 annual report raised several other concerns about the condo industry. Released Dec. 7, the audit revealed…

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Land Transfer Tax Primer for Homebuyers

Having your offer accepted is one of the most exciting moments in the home-buying process. However, your euphoric mood can quickly change if you’re not prepared for the costs of closing the sale. When purchasing property in Toronto, land transfer…

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Land Transfer Tax Relief

Councillors Push for Land Transfer Tax Relief

Two Toronto councillors want to see an increase in the municipal land transfer tax rebate for first-time homebuyers. Mark Grimes (Ward 3 Etobicoke-Lakeshore) and Brad Bradford (Ward 19 Beaches-East York) tabled the motion in January. The pair have asked city staff to…

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Ontario Revamping Real Estate Industry Rules

The Ontario government is revising the province’s real estate laws, which, if passed, will impact home buyers and sellers. The proposed legislation, known as the Trust in Real Estate Services Act, aims to raise professional standards and improve protections and…

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