CMHC MLI Select
Reddit » Real Estate in Canada
by /u/Repulsive_Parking154
3h ago
In order to qualify for the MLI select for new construction (let’s use an 8 plex as an example on residential land), do you need to own that land outright or is the land included in the budget for the construction loan with CMHC? Thanks! submitted by /u/Repulsive_Parking154 [visit reddit] [comments ..read more
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Closing costs of pre con
Reddit » Real Estate in Canada
by /u/Immediate_Pension_61
7h ago
Hi all. I took over an assignment earlier this year and the condo will be ready later this year. What costs can developer charge on the final statement of adjustments other than the price and gst? Someone mentioned that there could be some development charge/fee but no such thing was mentioned when I bought the assignment. submitted by /u/Immediate_Pension_61 [visit reddit] [comments ..read more
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Pre con litigation costs
Reddit » Real Estate in Canada
by /u/gastly0498
11h ago
Hey guys, Has anyone gone through real estate litigation? We are unable to close a pre-con freehold townhouse and with the current market it is not even selling (at a loss). Would like to know a rough idea on the costs associated with litigation submitted by /u/gastly0498 [visit reddit] [comments ..read more
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My property is now all in conservation area
Reddit » Real Estate in Canada
by /u/turmerictrauma
1d ago
It’s all very confusing to me. When I first purchased the house, it was only the back part of the property that was within the simcoe conservation area. The updated map has now been switched to showing my entire property, starting from my back door until the very end, now as conservation. How is that possible without any sort of heads up? We planned on rebuilding the deck and putting up a retaining wall as the foundation is cracked from the slope on the property. Does everything need to go through conservation aside from getting permits from the town? submitted by /u/turmerictrauma [visit re ..read more
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Selling a dated house
Reddit » Real Estate in Canada
by /u/todditango
1d ago
Trying to sell a house that could use some updating to sell. Instead of taking lowball offers, would it be more advantageous to rent it out for a year or two and do some updates so they’re partially tax deductible? submitted by /u/todditango [visit reddit] [comments ..read more
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Real estate agents lies
Reddit » Real Estate in Canada
by /u/whocare12321
2d ago
For many years, the media and real estate agents have perpetuated the narrative that rising real estate prices result from housing shortages. However, this assertion is inaccurate. The current high interest rates have increased the inventory of available houses, particularly apartments, as buyers hesitate to purchase. This demonstrates that the issue lies not in housing availability but in market greed and manipulation. Individuals with additional income have purchased multiple properties, renting some for cash flow and flipping others. The pertinent question is when people will cease relying ..read more
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Hola! I am a realtor living here on the North Coast of the Dominican Republic! ???☀️ (Originally from Canada!) Please ask me any type of question you want!
Reddit » Real Estate in Canada
by /u/Dominican_RealtorGuy
2d ago
submitted by /u/Dominican_RealtorGuy [visit reddit] [comments ..read more
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What would you do?
Reddit » Real Estate in Canada
by /u/Happiness_12345
2d ago
I gave about 50k savings in RRSP. I can continue saving 2500k per month. I have property overseas which I can sell in a year and I will get about 60k. Should I wait n buy a 1 bedroom for about 500k around Aldershot Go in Ontario. My rent is 1800pm downtown Toronto for a beautiful 1 bedroom. No other fixed costs. I am considering buying a 1 bedroom as investment in Cochrane 370k and renting it out. It should break even. I am trying to build wealth and cash flow while still keep my variable costs low. I don't want too much debt on my head. I am an independent contractor and haven't had luck fin ..read more
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BC multiplex laws have changed - who is subdividing?
Reddit » Real Estate in Canada
by /u/pineapple_soup
2d ago
In many BC cities, homeowners can build multiplxes on their land. In vancouver, port moody and Burnaby for example the floor area ratios (FAR) have all been relaxed in specific areas which will allow for houses to be built on land where it wasnt previously feasible to. We live in a city which has recently relaxed these requirements and intend to subdivide our backyard (which is alone about 8,000 sq feet) into a 6k plot which backs onto a seperate street and then sell it to a developer or family who wants to build. Curious to hear what others are doing and if there are any predictions for what ..read more
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Private sales - any pitfalls to watch for as a seller?
Reddit » Real Estate in Canada
by /u/GreyGhostPhoto
2d ago
I'm expecting to be accepting an offer for purchase on a family home that I'm the executor for. This is a private sale, so I'm curious if there's any pitfalls that I need to keep in mind? I've got a standard real estate purchase agreement that I pulled from a local law firm's web site. submitted by /u/GreyGhostPhoto [visit reddit] [comments ..read more
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