By: Ragona Sisters

Some things you should know about a multiple offer situation

Tags: multiple offer, buyers, sellers, first home buyers,

We often get asked by our clients how exactly multiple offers works and the answer to that question is that it varies depending on the situation. For example, A few months ago our buyers had put an offer on a 3br/3bth detached home in Vaughan. By the end of day, the agent had called me to tell me that there are two other offers on the same property and offers were to be presented in person at...Read More

By: Ragona Sisters

For the Love of Trees

Tags: Buyer, lawyer, first time home buyer, home insurance, home inspection, buying a home, sellers

Recent situation occured in this past year where a buyer purchased a property.  The house was perfect but the buyers especially loved the large mature trees in the back of the property which made it a private backyard oasis.  A week before closing, the buyer had revisited the home to only find out that the trees have been cut down with only the stumps remaining in the ground. Buyers we...Read More

By: Ragona Sisters

What happens if there are issues that are revealed in a home inspection?

Tags: Buyer, deposit, lawyer, first time home buyer, home insurance, home inspection, buying a home

Let's face it, not one home is perfect.  There will be some issues with the home. Some problems the buyer is aware of before putting in an offer and others revealed through a home inspection that are unknown to the buyer. Here are some options the buyer can take if an unforseen issue is detected during inspection: Option 1: The seller can fix these issues at the sellers own expense ...Read More

By: Ragona Sisters

What to know when using a home inspector to buy a home

Tags: Buyer, deposit, lawyer, first time home buyer, home insurance, home inspection

Home inspections are extremely important in my opinion. When your investing your money in such a large asset it's money well spent to see what condition the home is in. When your interested in buying a home, you should put an offer conditional on a home inspection. Therefore, the home is not sold until this condition is fulfilled. Home inspection condition is usually 5 days or could be less de...Read More

By: Ragona Sisters

When and why do you need to submit a deposit when purchasing real estate?

Tags: Vaughan - Eden Mills, Kleinburg, Maple, Sonoma Heights, Vellore Village, Weston Downs, Woodbridge, Mississauga, , Georgetown, Acton, Vaughan, deposit, lawyer, RAGONA, first time home buyer

A deposit is required on a real estate purchase once the offer is excepted (pending conditions if any).  The deposit money is held in trust by the listing brokerage to ensure that the buyer will be closing once their conditions have been fulfilled. In the event the conditions in an offer are not met, the deposit will be returned in full to the buyer, not a penny less. On the flipside of ...Read More

By: Ragona Sisters

What is title insurance? And why do I need it?

Tags: Real estate, new listings, homes for sale, real estate agents, vaughan, eden mills, kleinburg, maple, sonoma heights, vellore village, weston downs, woodbridge, mississauga, brampton, georgetown, acton, vaughan, mortgage, insurance, first time home buyers, title insurance, lawyer

Title refers to the persons interest in a property. Title insurance protects the homeowner ownership from any title defects resulting in loss. It also protects the priority on the mortgage in the event of a loss.   Some covered title risks for residential properties include: -someone else owns an interest in your title -existing liens against the title -violations of municipal zonin...Read More

By: Ragona Sisters

Does this deck need a permit?

Tags: decks, permits, by laws, real estate, resale home, home, real estate agents, first time home buyer, buying a home

Questions: Does the deck need a permit? Answer: We often get this question when buyers look at a resale homes and see an existing deck.  Every city has its own rules but most have the general rule that if your deck is more than 2ft off the ground it needs a permit before construction. In some cities, permits are required if the deck is attached to the house regardless if its more tha...Read More

By: Ragona Sisters

Who needs to pay for Mortgage Insurance?

Tags: Real estate, new listings, homes for sale, real estate agents, vaughan, eden mills, kleinburg, maple, sonoma heights, vellore village, weston downs, woodbridge, mississauga, brampton, georgetown, acton, vaughan, mortgage, insurance, first time home buyers

If you are buying a home and have less than 20 per cent for the down payment, you need to obtain mortgage insurance, either through CMHC or a private insurance company such as Genworth Canada or Central Guaranty. The costs of the insurance are typically added to your mortgage and paid out over the 25 year amortized term.   The reason for mortgage insurance is that banks would likely not ...Read More

By: Ragona Sisters

Real Estate Tip # 1

Tags: Real estate, new listings, homes for sale, real estate agents, vaughan, eden mills, kleinburg, maple, sonoma heights, vellore village, weston downs, woodbridge, mississauga, brampton, georgetown, acton, vaughan

As summer is slipping away and the new fall season is around the corner the real estate market is changing with the season. The months of July and August generally slow down the real estate market with fewer new listings as people enjoy summer holidays. Once September arrives and the kids are back in school, you will find that more new listings begin to come onto the market along with more buyers....Read More

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