Living in Toronto

Understanding Maintenance Fees Toronto Condos

Published on 2012-02-07 11:16:13

Lets have a look at and compare what makes the maintenance fees in your building.First Lets establish a few things,Your furnace unit consumes electricity; usually through a heat exchange unit in a central part of the condo or maybe you are blessed with two. The heat exchange units take warmth (hot water heated from a boiler) from the coil and disperse it into your unit. The cost of operating the fan blower is yours, the costs of heating the water as to your maintenance fees. The unit is inside

New Mortgage Rules will limit your Toronto House Purchase

Published on 2012-01-24 20:45:22

New and updated Mortgage Qualification tools may have some buyers pushed out of the Toronto condo and housing market regardless of the interest rates. You could be affected if you are;a) Self employed b) Condo Purchasers need to include 100% of Maintenence Fee.Stated-income products have become very popular during this housing boom, allowing more banks to get involved in loaning to the selfemployed."These are individuals that are self-employed, have great credit and won't be able to validate th

Phantom Mortgages Toronto Condo Law

Published on 2012-01-18 12:18:25

David Pylyp: Hello, I'm with Shadi Nasseri in downtown Toronto, our condo law specialist. Can I ask about phantom mortgages?Shadi Nasseri: When you are purchasing a condo in Toronto, one of the first critical dates to keep in mind is the INTERIM Occupancy Date. Essentially also called the Occupancy Date. That is when you get possession of your unit, in the condominium, but since the other units are not yet completed, the condo will not have fully registered yet. The Final Closing Date is stil