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In Toronto real estate, freehold simply means that you own your house and the land it sits on, outright. Love the independence of no condo fees and no shared walls! Freehold homes remain the top choice for homebuyers in Ontario. They appreciate the autonomy to renovate, maintenance, and access to private outside space. Recognizing freehold… Continue reading Unlock Real Estate Security: What Does Freehold Mean in Real Estate & Why It Matters for Your Investment?

Key Takeaways Using pro-rated property tax adjustments at closing helps ensure an equitable sharing of taxes accrued between buyer and seller. They properly prorate based on how long each side has owned the property. This public process reduces the potential for disputes and promotes transparency. So knowing how to read a statement of adjustments is… Continue reading Avoid Costly Surprises: Master Property Tax Adjustments at Closing

Key Takeaways Not all closing costs are tax deductible, though. Knowing deductible expenses is half the battle. Watch for closing costs such as loan origination fees, prepaid interest and any real estate taxes paid at closing. Mortgage insurance premiums are deductible only in certain circumstances. If you’re making these kinds of payments, keeping detailed records… Continue reading Uncover Hidden Tax Breaks on Rental Property Closing Costs!

Key Takeaways Closing costs are an important consideration in any real estate deal. Several fees and expenses apply in addition to the property’s sales price. These closing costs fluctuate according to location, type of property and what a lender may require. Property taxes have a huge impact on closing costs. Buyers will likely be required… Continue reading Are property taxes included in closing costs

Key Takeaways Commercial property closing costs are one of the most important property closing costs that buyers and sellers should expect. By understanding these costs upfront, you’ll be able to prevent financial surprises and ensure that your transactions run much more smoothly. Closing costs can consist of flat fees, value-based costs as well as other… Continue reading Commercial Property Closing Costs