Monday, September 24, 2018

Sellers Were Asking: Four Legged Friends

Four Legged Friends

In all the hustle and bustle of selling a home we often forget about the affect it has on our four legged friends. Most Sellers don’t love the thought of strangers coming into their home and let me tell you, neither do your pets! To save yourself the mortifying discovery of coming home to an accident on the kitchen floor, we often recommend a few different strategies for handling a sale with your fur babies.  

The first and best option? Find a comfortable home and relocate them, at least for your first week/weekend on the market. This is usually the busiest time and your highest traffic flow. It also helps to keep any odours to a minimum and ensures they have the continued care they would normally.

The alternative is, bring them with you! If you have the luxury to bring your pets to work or take your pets with you when you leave for showing appointments, it can make the world of difference. I realize not all pets love the car (“not the VET again!”) which is why we recommend a safe home as your first choice.

If you aren’t able to remove your pets from your home, thats ok.  We always recommend letting your Realtor know so they can let showing Realtors know. It forewarns Buyers to be respectful of their space, ensure indoor pets do not escape outdoors and caged pets aren’t bothered more than they need to be. 


There’s no secret recipe to helping your cat or dog understand what’s going on but, I do know at very least, a few extra treats never hurt!

If you really want to go that extra mile, there's always the option of giving them a safe and exciting place to stay.  Why not check out a doggy getaway, we've got trusted referrals on our Business Directory.

Monday, September 10, 2018

Buyers Were Asking: Land Transfer Tax Vs. First Time Buyers

Land Transfer Tax Vs. First Time Buyers


If you’ve bought and sold homes in your lifetime, you’re likely familiar with that little (or not so!) added fee the lawyers refer to as Land Transfer Tax.  If you’re not familiar, let’s think of it as a transaction fee.  In the case of buying real estate, the fee applies when land is being transferred from one person, people, company etc. to another, on closing day.  

Who foots the bill?  Well, as the buyer, you do!  But, there’s some good news!  As first time home buyers in Ontario, we’re given a break (Thank You!!).  It used to be that, real estate closings prior to January 2017 received a rebate up to a maximum of $2,000.  Since then, buyers who qualify as first timers reap the benefits of a $4,000 rebate on their land transfer tax.  

What does this mean for you?  If you’re purchasing a home valued at $368,000 or less, you won’t pay a cent in land transfer tax because your rebate will cover the full amount owing.  Going over and above that simply means you’ll calculate your land transfer taxes on your total purchase price, less the $4,000 rebate… you cover the difference.

There are times where one party to the transaction (Mom, Dad, Spouse, etc) may not qualify as a first time home buyer, and the other party does.  In this case, the rebate will be reduced according to each party’s interest in the property.  If you’re entering the transaction 50/50, you’ll receive half the rebate, at $2,000…. and so on. 

You might be wondering how this is taken care of.  Rest assured, though you do have 18 months from the transaction date to apply… you won’t have to do a thing!  Your lawyer will apply for the rebate on your behalf, that way, you’re not putting out the money upon closing. You’ll see it come right off the Land Transfer Tax line on the invoice from your lawyer. 

If you’ve questions, or, something's unclear… ask us! Your lawyer! Or check out all the detail at https://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.html.