Gallo Real Estate Ltd., Est. 1975
Congratulations! You’ve found your new home. And, like most people in Canada who buy a home – likely the most expensive purchase they’ll ever make – you can’t pay for it all up front. So you get a mortgage, which is a long-term loan that uses the house itself as security. One of the decisions you’ll have to make when getting a mortgage is whether to have one with a fixed rate or a variable rate. Your friends and … [Read more...]
When you’re marketing your house to sell there are many options that your real estate agent will recommend at various stages in the selling process. Obviously a for sale sign is necessary and with an agent you’ll also be able to list your home on various websites. Depending on how long your house is on the market for, your agent may also recommend an open house. There are two types of open houses –an agent's open house and a public open … [Read more...]
Though houses are making a transition to be more environmentally friendly, if you’re looking at older or outdated homes, then you should be aware of environmental issues just as much as the structural engineering of the house. While not as much a problem anymore, if you’re looking at purchasing a century home, asbestos can also contribute to air quality issues as well. This is a mineral fiber that was used in building construction, so in … [Read more...]
When you are looking to sell your home, you hire an agent to market the property to potential buyers. More and more often, successful marketing draws a buyer who wishes to be represented by one and the same agent. This results in a “multiple representation” situation where the agent must act in the best interests of both the buyer and the seller. It’s important that both the buyer and seller understand the brokerage’s duties and … [Read more...]
Having a lender when it comes to buying a home is just as important as a real estate salesperson – without the money, there is no home. There are two different types of lenders – private and institutional – and which one you go with may depend on terms and rates that are going to be beneficial to you in the long run. While you could go directly to your favourite institution or one you’ve found through research to offer the best rates, … [Read more...]
Going green at home is something that continues to grow in popularity and importance among homeowners. If you’re looking to sell your home, then it may mean making some additional tweaks or renovations to make your home more valuable to buyers who look for eco-friendly home features. If you’re a buyer and green home characteristics are important to you, then there are some things you should keep an eye out for when searching for a new … [Read more...]
This is the question that every new homebuyer should ask themselves before they even start looking. Purchasing a home is likely the most expensive purchase you will ever make and you’d hate to fall in love with a home and find out you can’t afford it, or be caught off guard with expenses that you didn’t plan for. This is why it’s important to get pre-approved for a mortgage before you start looking for a home. Getting pre-approved … [Read more...]
Land transfer tax is likely one of those terms that you’ve heard as you begin to search for a new home, but perhaps it’s not something that you totally understand and if you’re planning on purchasing a home, then it’s definitely something you need to figure out. In Ontario, if you buy land or an interest in land, then you’re required to pay Ontario’s land transfer tax. The definition of land includes any building and buildings to … [Read more...]
In a real estate transaction, it’s important to understand who the sales person is working for. A real estate brokerage and their sales people must put the interests of their client above their own. When a real estate brokerage represents a seller as their client, it must do what is best for the seller of a property. On the other end, when a real estate brokerage represents a buyer as their client, it must do what is best for the buyer of a … [Read more...]
That’s like asking why you would need a bank to get a mortgage. A solicitor, or lawyer, acts as the liaison between you and all of the real estate related matters that are necessary to complete your sale or purchase. You could potentially handle the transaction yourself but we suggest leaving the complicated paperwork and legal details up to the professionals who do this for a living – just like you’d leave surgery up to a … [Read more...]
