Title insurance refers to a policy that you purchase when you are buying a commercial or residential property. The policy provides coverage for any losses you might incur because there is an unknown problem with your title.
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Why might you consider buying title insurance?
Common Ontario real estate law misconceptions
The Real Estate Council of Ontario, in an effort to educate citizens on common aspects of real estate law, conducted a survey to see how well people in the area knew real estate law. The survey revealed some common misconceptions about real estate law and transactions.
When you need outside help with your real estate transaction
A few weeks ago, we talked about how electronic document signing is making it easier for real estate buyers and sellers. While it's true that avoiding a mountain of hard copy paperwork does make real estate transactions more efficient, it's also true that those transactions are not what most people would call easy or simple.
What must I know about agents and inspections when buying a home?
Purchasing a home is a big purchase that you will have to live with for years to come. It is vital that you go about the process in the proper manner so that you can ensure your interests are being protected throughout the process. There are several ways that you can protect yourself during the purchase of residential real estate.
Learn about the process for buying residential real estate
Buying or selling a home is one of the biggest events in a person's life. Making sure you understand the process that occurs during real estate transactions can make the experience a little less stressful. We can help you learn everything you need to know when you are purchasing a home or selling a home.
The legal definition of a subdivision
Most people know what a subdivision is in general, understanding that it's a large piece of land that has been broken up into multiple lots and sold off. Many times, those who own these lots will sell them to people who want to build their own homes, and they'll even use specific builders and contractors to do the work. But what is a subdivision in a legal sense?
What are Ontario's zoning bylaws?
If you're thinking of buying property and building, one of the most important things you want to look into is how the zoning by-laws are going to impact that property. These laws dictate how you are allowed to use the land. For instance, they tell you if the property can be used for a residential housing project or if it can be used for a business. There are areas that are zoned for both, but most areas fall into one category or the other. You must know which category the property fits into before you buy it or you could be stuck with land that you can't use as intended.
Negotiating deposit amounts for real estate in Ontario
People who are in the market for real estate may not realize that the deposit amount can be negotiated with the seller. The law does not provide any minimum for deposits and there is also no standard by which deposits are set. Deposits are usually made in order to demonstrate a buyer's commitment to purchase the property.
Ontario government initiates new real estate rules
In an effort to stop unethical practices by sales agents in Ontario's hot housing market, the provincial government has announced new rules governing their recordkeeping. The market, with its record-low interest rates, has rebounded with ferocity, instituting bidding wars for buyers in places such as Toronto.
The importance of title insurance in Ontario
People who are in the process of purchasing a home might also consider purchasing title insurance. While it is not a requirement, title insurance may be very beneficial to potential homebuyers. The coverage can protect the property owner from potential losses associated with the ownership of the title and typically ends only when the title is transferred to another person.
