Dear David: We bought a brand-new freehold townhouse and have received interim occupancy. How long does it usually take for this type of unit to reach final closing? – WAITING PATIENTLY DEAR WAITING: Your question concerns me because interim occupancy is not generally involved in the purchase of a freehold townhouse. In a freehold property
Dear David, We own a semi in a modest neighbourhood. My husband wants to jazz it up with a concrete drive, new kitchen, new bathroom and a fence. The home “attached” to us is somewhat run down and I fear ours can’t shine next to it. Is it better to move and invest somewhere else?
Dear David, We don’t qualify to purchase as much as we did a year ago. Should we look at a private mortgage? – LOOKING FOR OPTIONS DEAR OPTIONS: There are a number of mortgage alternatives, including A-type lenders (major banks), B-type lenders (major Canadian institutions, which may be less stringent in their rules) and private
Dear David, We found 2 rental properties we like and can’t decide which one to buy. Which factors do you think should sway our decision? – CONTEMPLATING DEAR CONTEMPLATING: The condition of the rental properties and demographic of the tenants are important to consider right off the bat. Are the tenants cooperative? If so, look
Dear David, What does it mean if a home has a historic designation? – Old Timer Dear Old Timer, A handful of properties in our region are designated as historic by their respective cities under Ontario Heritage Act, which applies to properties identified as having cultural heritage value or interest. Under the OHA, there are two