Did you know that the Federal Government has a Home Renovation Tax Credit (HRTC) of up to $1350 for renovations of "Eligible Dwellings."
What is an "eligible dwelling"? An "eligible dwelling" is a house, condo, or cottage owned for personal use.
Renovations and alterations must be relatively enduring to qualify for the tax credit. For example, resurfacing a driveway, new carpets, interior or exterior ...
Posted by David Yetman
on July 21, 2009
By Elias Metlej
Many people enter into property transactions with minimal money. Prepared for the obvious amounts, buyers set aside just enough for a down payment, legal fees, and the registration costs. Unfortunately, there are many valuable products and services that are widely unknown and, therefore, not budgeted for.
Most of my clients have never heard of title insurance until we review their ...
Posted by David Yetman
on July 17, 2009
By Elias Metlej
I am always amazed by the number of people who naively claim that they don't have a mortgage. Many clients do not appreciate when a mortgage is registered against their home. In an age of extensive consumer protection laws and regulated banking, how do people end up with mortgages that they are unaware of? The answer lies in the fact that many consumers unknowingly use their homes ...
Posted by David Yetman
on July 15, 2009
By Elias Metlej
A client told me that when she bought her first home she met with her lawyer once, for only 15 minutes. Following this, she understood only two things - she paid a lot of money and she owned a house. Unfortunately, far too many people experience this legal blur when purchasing or selling their home.
A property transaction will be an overwhelming experience. In our business, surprises ...
Posted by David Yetman
on July 13, 2009
By Elias Metlej
"I'm ready to buy a house with my girlfriend, but I'm not buying a house with her father!" That was a client's response when he understood the meaning of "co-signer". The young couple I was working with required a co-signer for their mortgage. Unfortunately, they, like many borrowers, did not understand the meaning of co-signer or appreciate how it would impact their ownership.
The ...
Posted by David Yetman
on July 9, 2009