Real Estate Archives - De Krupe Law

04 April

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How to Avoid Real Estate Fraud

[toc] Real estate fraud has become a growing concern in today's market, posing serious risks to buyers, sellers, and lenders alike. The DeKrupe law team specializes in real estate law and has experience dealing with various types of property fraud. You need to understand the dynamics of real estate fraud and know how to protect yourself against malicious intent. Real Estate Fraud Dynamics Real estate gravely affects the Canadian market, leading to serious financial losses and undermining trust in the real estate sector. Fraudsters employ various tactics, including identity theft and forgery. They might impersonate owners to sell properties they do not own...

22 March

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What is a Real Estate Brokerage?

Posted by Daniel Simard

in Real Estate

Understanding the framework of property transactions comes from answering the questions what is a real estate brokerage and what he does. Briefly, this activity serve as the bridge between buyers and sellers, offering expertise and assisting in the real estate market deals. Unlike individual agents, brokerages operate as larger firms providing a suite of services for those aiming to understand the complexities of real estate. They're licensed professionals in legal compliance and ethical dealings. Expect straightforward insights into how they operate, their significance in your property endeavors, and the impact they have on one of life's most significant transactions. Defining Real Estate Brokerage Real...

07 March

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Steps in Commercial Real Estate Transactions

Posted by Daniel Simard

in Real Estate

Steps in Commercial Real Estate Transactions

The process of commercial real estate transactions is complex and requires precise legal interpretation. For investors and businesses, these transactions are critical as they can expand or strengthen assets. Buying, selling, or leasing commercial properties require a strategic approach to ensure financial success and compliance with regulatory standards. With significant capital at stake, professionals navigate through due diligence processes, contract negotiations, and financing considerations with meticulous attention to detail. Commercial Real Estate Compared to Residential Commercial properties include malls, office buildings, and warehouses. Residential real estate consists of homes and apartments for living purposes. These distinctions matter for investors and businesses. While residential properties...

29 February

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Why Safe Deposit Box Is Essential?

Posted by Daniel Simard

in Blog, Contracts, Family Law, Real Estate, Wills

Often placed within the fortified walls of banks or special secure facilities, these boxes offer people a safe place to store important documents and valuables. The main feature of a safe deposit box lies in its simplicity. A physical lock and key shielding one's possessions from theft, loss, or damage. Yet, despite this simplicity, choosing the right safe requires an understanding of various factors such as size, ease of access, cost and level of protection. Locking Your Doors at Night Isn't A Last Resort Safe deposit boxes offer a high-security option for storing valuables. Banks provide these secure containers within their vaults. The...

05 February

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Real Estate Lawyer Fees 101

Posted by Daniel Simard

in Blog, Real Estate

Which came first: real estate lawyer or real estate lawyer fees? You know the answer yourself, and actually, you don't need this answer. What you really do need is to be provided with legal support on refinancing, buying, or selling a property. De Krupe Law firm does these services properly and transparently. Conveniently located offices in Toronto, Newmarket, and Barrie help our team with that. For special treatment and your comfort, our professionals can make an appointment with you for a distant contract sign. We aim to give our guests an efficient and time-saving experience. Therefore, we are known as a legal service...

08 November

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Refresh Your Real Estate

Posted by Daniel Simard

in Blog, Real Estate

Such items are often considered personal possessions rather than real property. Also plays a significant role in property negotiations and valuations. This applies to movable property that is not permanently attached to the land or buildings. A property that is easy to rent without changing its condition or value is what includes movable property in real estate. This is what chattel in real estate encompasses. This includes items that are not inherently part of the property and can be removed without altering the property's condition or value. Differentiation of Chattel and Fixture Understanding the classification of chattel in real estate is crucial for...

01 November

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Last-Minute Withdrawals in Ontario Real Estate Deals

Posted by Daniel Simard

in Blog, Real Estate

Last-Minute Withdrawals in Ontario Real Estate Deals

Real estate transactions in Ontario, like elsewhere, are significant life events. A pressing question for many in this process is when is it too late to back out of buying a house ontario. It is a dilemma that highlights the time-sensitive nature of such transactions. It's an essential consideration, as knowing the exact point beyond which a buyer cannot withdraw without consequences is crucial. This knowledge empowers buyers to navigate the process with confidence, ensuring they make decisions that align with their best interests. As a first-time homebuyer, it's crucial to understand the nuances of these transactions, particularly the closing stage....

25 October

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Demystifying the Real Estate Closing Process

Posted by Daniel Simard

in Real Estate

demystifying-the-real-estate-closing-process

Wielding your own home is often considered a milestone achievement. Yet, the journey to homeownership, especially the closing phase, can seem complex and intimidating. The real estate closing process involves a series of steps, each vital in its own right. To navigate these steps successfully, it's crucial to have a clear understanding and to be well-prepared. Partnering with experienced professionals, such as real estate agents and lawyers in Toronto, can significantly ease the burden. With the right guidance and diligence, what might initially seem like a daunting task can transform into an exciting and rewarding experience. The Journey to Home Ownership Everyone dreams of that...

12 August

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Interest in land

Posted by DeKrupe

in Real Estate

There are there ways in which you can have an interest in land. Fee Simple Estate – most common when buying land. A person who has a fee simple estate has the right to exclusive possession of the land and the right to transfer the land, gift it, lease it out, or dispose of it for an infinite period of time. The Life Estate – this type of interest grants the owner the right to exclusive possession of the land for a particular lifetime. When the owner of a life estate dies the land will revert back to whoever granted...

12 August

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Purchasing or Selling a Property

Posted by DeKrupe

in Real Estate

The Agreement of Purchase and Sale The Agreement of Purchase and Sale is the document on which the entire real estate transaction is based and is probably one the most important documents in the whole transaction. The Agreement will usually contain the following: Names of the parties, seller and buyer; Description of the property; Purchase price; Deposit; Special terms, such conditions, mortgages to be assumed, rights of inspection and so on; Standard terms such as the completion date, length of time the offer is valid, notices, chattels included, fixtures excluded, list of rental items and so on. Purchase of New Home

12 August

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The Land Transfer Tax

Posted by DeKrupe

in Real Estate

There are some conveyances that may be exempt from land transfer tax, such as: Property transferred under a will. Property transferred between spouses, and Property transferred by way of a gift. Below is a calculator designed to calculate the transfer tax that you will need to pay on your property. Remember if you are selling you do not need to pay this. Although we have made this calculator as accurate as possible De...

12 August

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Title Insurance

Posted by DeKrupe

in Real Estate

Like any other insurance be it automotive or home insurance, title insurance protects you from certain damages. You pay a premium to a title insurer to protect yourself from damages arising as a result of problems with title to you property. The premium for title insurance is usually paid only once and during a purchase of the property. A lawyer must order title insurance for you from a title insurer. Title insurance policies can be issued in favour of both the buyer and the lender of money. Some lenders will require you to obtain title insurance in order for them to transfer...