Real Estate
Plain-language guides to buying, selling and closing in Ontario.
Real estate is the area where a small misunderstanding costs the most, because the deadlines are fixed and the amounts are large. These guides walk through the parts people most often get wrong: what actually happens between a firm deal and closing day, which closing costs land on top of the purchase price, and why the status certificate is the single most important document in a resale condominium purchase. There is a guide on the 10-day cooling-off period for new pre-construction condominiums, including the point that it does not apply to resale homes — a misconception that has cost buyers their deposits. Another covers title searches and requisitions, the process by which ownership problems are found and fixed before they become yours. Sellers get their own checklist, from the mortgage discharge statement through to the adjustments. Where a rate or a rebate is set by government and liable to change, we describe how it works and point you to the calculator rather than quoting a figure that may age.
Buying a home in Ontario, step by step
From accepted offer to keys in hand.
CostsClosing costs: land transfer tax, NRST and title insurance
The main costs beyond the purchase price.
CondosCondo status certificates: read before you buy
Why this document can make or break a condo purchase.
New BuildsBuying a new-build: the 10-day cooling-off (rescission) period
Protections for pre-construction condo and home buyers.
TitleRequisitions and title searches: catching problems early
How title defects get identified and resolved before closing.
SellingSelling a home: discharges, adjustments and closing
A seller's closing checklist.