Tag Archives: buyers

More CMHC rule changes July 1st — bad news for buyers

So, CMHC is once again making it harder for buyers to borrow money. My guess is that this is due to fear of buyers not being able to manage debt because of the pandemic, but it strikes me as a … Continue reading

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Ask Peggy: What’s my recourse if the previous owners smoked in the ensuite of the house after I purchased their house and before I moved in?

Lots of people have serious smoke sensitivities: I know, I’m one of them. I walk into a house that someone has smoked in and within a few seconds, I can’t breathe. Unfortunately, unless you spelled out the importance to you … Continue reading

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Power of Sale – is there a duty to disclose latent defects?

For the third time in the past few months, I’ve seen a certain row unit be conditionally sold and then pop back on the market. It’s a power of sale, meaning the financial institution that held the owner’s mortgage wasn’t … Continue reading

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Bully Offers – what are they? What are the rules around them?

The Toronto Star has just published a story about “bully” offers. The article indicates that listing agents whose clients accept them could end up paying hefty fines if they don’t play by the rules. So what is a bully offer and … Continue reading

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New Mortgage Rules – and how they affect buyers

This just in from Cathy Macdonald, an Ottawa mortgage broker, about the effect of the today’s rule changes on buyers:   Significant Mortgage Qualifying Changes Announced Today Do you have buyers who are pre-approved and planning to buy at or … Continue reading

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The Final Walkthrough

Most offers allow the buyer an opportunity to walk through the property at least once before closing. This is  a term that is negotiated in the offer and must be agreed to by the seller. I’ve seen as many as … Continue reading

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My buyer has cold feet.

I got the idea for this blog post from a search thread that lead someone to Kiss and Sell that said:”My buyer has cold feet.” Ahh, yes. Cold feet. They seem to afflict every buyer at some point along the … Continue reading

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