Damages When a Residential Real Estate Deal Fails in Ontario
When a firm Ontario residential APS fails to close, damages are generally the contract price versus market value around the breach, the deposit is credited against proven loss, and the Limitations Act, 2002 usually gives two years from discovery to sue.
Easements, Mutual Driveways, and Rights of Way in Ontario: What Buyers and Sellers Should Check
In Ontario, a registered right of way or mutual driveway easement usually stays with the land and binds the next owner, so buyers should read the registered document and the survey before the requisition date, not rely on a listing that says “mutual drive.”
The New N12 Rule Doesn’t Apply to Purchasers
Adding a Child to Title to Avoid Probate in Ontario: Why It Often Backfires
Putting an adult child on title as a joint tenant can keep an Ontario home out of estate administration tax only if the child truly takes it by survivorship, and the tax, control, creditor, and family risks can cost more than the $15 per $1,000 (above the first $50,000) the estate may save.
Statement of Adjustments in Ontario: How to Read Your Closing Numbers
On an Ontario resale closing, the statement of adjustments turns the price, the deposit, and the split of property tax and other running costs into the balance due, with the closing day itself usually charged to the buyer under the standard OREA agreement.
The Deposit Is Not a Condition
Condo Special Assessments in Ontario: What Buyers and Sellers Need to Know
In Ontario, a condo special assessment is an extra common-expense levy — often one-time or in installments — that buyers should catch in the status certificate before waiving conditions.
Same-Day Purchase and Sale in Ontario: Chain Closings Without the Panic
In Ontario, a same-day purchase and sale means sale proceeds must clear through lawyers’ trust accounts in time to fund your buy — a chain where one late wire can stress every linked deal.
Bridge Financing in Ontario: Buying Before Your Sale Closes
Ontario bridge financing is a short-term loan against equity in your current home so you can close a purchase before sale proceeds arrive — usually only when both deals are firm and your lender approves.
Fire or Damage Before Closing in Ontario: Equitable Conversion and Who Bears the Risk
When an Ontario home is damaged by fire or casualty after a firm APS and before closing, the standard insurance clause — not bare equitable conversion — usually decides who bears the risk and what the buyer can elect.
First-Time Buyer Closing Costs in Ontario (Beyond LTT and Legal Fees)
Ontario first-time buyers still need cash beyond land transfer tax and the lawyer’s fee: title insurance, high-ratio mortgage insurance, adjustments, condo extras, and lender items that show up before keys.
Collateral Charge vs Conventional Mortgage in Ontario
In Ontario, a standard (conventional) charge usually matches the loan amount; a collateral charge can be registered higher and may secure more than one loan with the same lender.
2 Different FTHB Definitions
Transferring Title to Family in Ontario: Gift, Trust, and LTT on the Mortgage
Ontario family title transfers turn on gift versus trust versus true co-ownership; assumed mortgage debt usually creates land transfer tax consideration.
Bank of Mom and Dad in Ontario: Gift, Guarantor, or Co-Owner?
Ontario parents can help with a home purchase by gift, guarantee, or co-ownership; each changes lender documents, liability, title, tax and rebate analysis.
The 3 Parts of an Occupancy Fee
Condo Exclusive-Use Areas in Ontario: Balcony, Parking, and Doorbells
In Ontario, a condo balcony, parking spot, or locker is often exclusive-use common element—not part of your unit—and alterations like doorbells need board approval under section 98.
Selling a Tenanted Home in Ontario: Vacant Possession, N12, and Cash-for-Keys
Listing an Ontario rental does not end the tenancy. Vacant possession on closing needs a valid N12 path, an N11 agreement, or a buyer who takes the tenant.
Persistent Late Payment Finally Has a Definition
Section 116 Clearance Certificate for Non-Resident Sellers in Ontario
If a non-resident sells Ontario real property without a CRA section 116 certificate, the buyer is entitled to hold back 25% or 50% of the price, depending on the type of property.
Real Estate Conditions Explained: Financing, Home Inspection, Status Certificate, and Sale of Property
On an Ontario APS, financing, inspection, status certificate, and sale-of-property conditions only protect you until the deadline. Miss the written notice and a condition-precedent deal usually dies.
Chattels vs Fixtures in Ontario (and Rental Hot-Water Tanks)
Fixtures stay, chattels leave, unless the Ontario agreement says otherwise. A rental hot-water tank looks attached and is often owned by someone else. Write it on the form.
Toronto Vacant Home Tax on a Purchase or Sale
Miss Toronto's occupancy declaration and the City treats the house as vacant. The 3% tax is a lien. On a sale, the buyer can inherit it.
First-Time Land Transfer Tax Rebates in Ontario
Ontario's first-time refund is up to $4,000. Toronto adds up to $4,475. A spouse who owned while you were together, or a parent on title as a real owner, can cut or kill it.
Real Estate Deposits in Ontario
An Ontario resale deposit is security for the deal, not a cooling-off period. Miss it and you can still be on the hook. Walk from a firm agreement and the seller can keep it, and sometimes more.
Seller Disclosure in Ontario: Latent vs Patent Defects
Ontario sellers must disclose known latent defects that make a home dangerous or unfit to live in. They do not have to volunteer stigma, and they cannot hide a problem or lie if asked.
Property Sold "As-Is"
3 Clauses I See in Every Offer
When You Need Off-Title Searches
What Adding a Child to Title Actually Costs