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  • Rental Property with Partner, but Property only under 1 name?

    Hello All, I’m trying to help a friend sort out his very messy situation on a rental property with a partner. I’ll start by providing some relevant background info: - A few years ago my friend’s colleague convinced him to partner up and invest in a property together ...

  • Taxes on Selling a Property

    Hi everyone, I bought a house privately in August for a cost that was less than market value -- the house is located in Scarborough. I renovated it to some extent, spending upwards of $30k thinking that it would be my permanent residence forever (mind you, I didn't save any of the receipts). Unfortu...

    • stylusss
    • Jan 17th, 2021 12:33 pm
    • Forum: Real Estate

  • Planning to buy a property and move after couple of years - Need suggestions

    ... below questions If I plan to rent it immediately can that be my primary residence? This will be my first home and the only home. Do I close the property as personal or investment property? Do I have to mention to the mortgage lender that I am planning to rent it out? Will there be any issue ...

    • DealZealot
    • Jan 15th, 2021 11:21 am
    • Forum: Real Estate

  • Captital gains on rental property only property i own !?

    Is there capital gains or hst on a sale of a rental property. It is the only property/house owned by the owner they do not live there, they live elsewhere.

    • wantboost1
    • Jan 12th, 2021 7:53 am
    • Forum: Real Estate

  • Montreal market

    We seem to have a thread for toronto, vancouver and ottawa, maybe it's time for one for Montreal! Who is looking to buy in Montreal? What are you looking for? What do you think is worth investing in? Have you got something you are looking to sell here? It seems to me that condos have plateaued (no r...

    • mtlswing
    • Jan 6th, 2021 2:31 pm
    • Forum: Real Estate

  • My property was closed as a primary residence but my intention is to rent it. What should I do?

    ... mind the primary residence tax exemption and HST rebate in mine (Ontario) Ideally, I would go back in time and close on the basis of an investment property but what can I do now to obtain the HST rebate and not harm the primary residence tax exemption I have built up for my primary home?

  • Buying property in US

    ... rent out the house and then in ten years use as a base for snowbirding 3 months or more out of the year. Just wondering if anyone on here has a US property and what they are doing with it. Most of the wealthy people I know all have US houses they go down to for 4+ months and then leave vacant...but ...

    • retireat50
    • Dec 27th, 2020 7:26 pm
    • Forum: Real Estate

  • Mortgage questions when Selling and buying new property

    ... my prepayment in 2020 and again in early 2021 to lower the penalty? If I do this, this would be using funds I was saving for downpayment of new property, But since I would sell before I buy it's essentially the same thing right? What about if I do decide to simply port the mortgage. Is there ...

    • slowtyper
    • Dec 25th, 2020 12:51 am
    • Forum: Real Estate

  • Repay or Invest in second property

    Hi All , Newbie here and will appreciate suggestions/advice on weather I should pay out my existing mortgage ( outstanding mortgage balance 282k , property price is around 560k , will be coming up for renewal/ refinance in April 2021 ) as I am sitting on some 125 k cash or should I invest this ...

  • Sell a property in early 2021 or summer 2021?

    Would you sell a property in early 2021 with the confirmed low interest rates, or wait till summer 2021 (or longer) when the prices may rise?I like this low interest rate creating bidding wars on starter homes. If the rates stabilize or go up I think we'll have less interest.

  • All-Risk Insurance for Mortgaged property mandatory ?

    Can someone pleas explain the term below? I thought all-risk insurance wasn't mandatory. You are in default of both this Agreement and the Mortgage, if:You do not buy or keep proper all-risk insurance on the mortgaged property.

    • Deal46ix
    • Dec 18th, 2020 12:15 pm
    • Forum: Real Estate

  • Tenant Abandoned Property - waste bin

    ... forum, but would be grateful for any advice. My tenant did not pay several months rent (detached house in GTA), and has since abandoned the property. Before the tenant disappeared he rented a waste disposal bin, which unfortunately is still sitting on the driveway. I called the waste bin ...

    • SARAHLEEK
    • Dec 17th, 2020 3:04 pm
    • Forum: Real Estate

  • Property Manager Won't Respond - Condo Water Damage Repairs

    ... the floor is warped. The leak was found to be from an upstairs unit and they are responsible. This is all happened 2 months ago. At the time, the property manager took it very seriously. They got people to come with with fans and dehumidifiers to dry it out. Several contractors and insurance people ...

    • niche54
    • Dec 11th, 2020 10:37 am
    • Forum: Home & Garden

  • Buying 2nd property for a child

    I and wife are thinking about buying a cottage type property. Our son and his girlfriend will be leaving there full time. Our son is self employed with a minimal income at this time (he is in the process of starting his own business). His girlfriend ...

    • ross
    • Dec 7th, 2020 2:43 pm
    • Forum: Real Estate

  • city complaint on a property

    I am planning to put an offer to purchase a property in Mississauga. How do I know if there are any complaints to the city on the property that I am planning to purchase (other than asking the sellers and the listing broker). Is there a city website ...

    • pavankumar
    • Dec 3rd, 2020 3:31 pm
    • Forum: Real Estate

  • Cellular phone tower near property

    We were interested in this house, everything was good except that it's quite close to a tall cellular phone tower (please see pic below). Just wondering if anyone knows of any adverse health effects living close to a cellular phone tower. In the same vein, we also always wondered about living close ...

    • treksub
    • Nov 21st, 2020 11:42 am
    • Forum: Real Estate

  • Requesting/Appealing MPAC reassessment on home property value?

    Hi Guys, I recently bought a house in GTA Suburb. The property tax is 12.5k/year on a 2m house Other recently sold houses in my small area have the same property tax, but their houses are much nicer (4 car garage, walk out basement, looks **** nice ...

    • lolbeast
    • Nov 20th, 2020 12:42 pm
    • Forum: Real Estate

  • How does CRA determine value for gifting a property to an adult child?

    I understand if I give my daughter a property, that is not my primary residence (nor was the property used for income) I will need to pay capital gains on the property . I understand that the CRA considers the value of the property to be Fair ...

  • What do you think this property is actually worth?

    Underpriced. Multi offer listing. What do you think its truly worth / max you'd pay for it. Unbiased Advice appreciated. https://www.realtor.ca/real-estate/22603076/9-1125-leger-way-milton-ford

    • sik20fan
    • Nov 19th, 2020 4:14 pm
    • Forum: Real Estate

  • Land Transfer on Buyout of Joint Ownership Property

    Hi I'm wondering if someone could help me out with a question. I own a property jointly with another person (not married or family) and I would like to buyout their half of the property, removing their name from the title. In this case, in Ontario, would I ...

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