real estate tips

Tax implications of converting a primary residence to a rental property in Ontario

Tonight I received a phone call from one of my clients about the tax implications of converting a primary residence to a rental property in Ontario, Canada. However, please note that tax laws can be complex and subject to change, so it's always a good idea to consult with a qualified tax professional for advice tailored to your specific situation. Here are some key points to consider: Change in Use:...

What are patent defects and latent defects in real estate

In real estate, the terms "latent defect" and "patent defect" are used to describe different types of property defects that can affect its condition, value, or functionality. Here's an explanation of each term with examples: Latent Defects:Latent defects refer to hidden or concealed issues that are not easily noticeable during a reasonable inspection of the property. These defects are typically not...

10 Hidden Gems: Exploring Underrated Neighborhoods in Toronto

Toronto is a city full of diverse and vibrant neighborhoods, and while some areas like downtown and Kensington Market often steal the spotlight, there are several underrated neighborhoods worth exploring. Here are 10 hidden gems in Toronto that offer unique experiences: Leslieville: Located in the east end, Leslieville is a hip and artsy neighborhood with a laid-back atmosphere. It's known for its...

What happens if buyer cannot close real estate deal on time in Ontario?

What happens if buyer cannot close real estate deal on time in Ontario? Tags: Toronto real estate, real estate closing, listing agent, real estate law, real estate tips Contributor: Yan Zhou from GTAHome.com Real Estate Team Estimate reading time: 2 minutes Recently I have encountered a case that the buyer cannot close a real estate transaction on time due to financing. It is an...

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