Your Ottawa Real Estate Expert

Buying a home 

Buying a home is an exciting and complex adventure. It can also be a very time-consuming and costly one if you're not familiar with all aspects of the process, and don't have all the best information and resources at hand. 

One of my specialties is representing the best interests of Ottawa area buyers throughout the home buying process. My comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.

If you're like most people, buying a home is the biggest investment you will ever make. So whether you're buying a starter home, your dream home or an investment property, why not take advantage of my experience as a local market expert for Ottawa to make the most informed decisions you can, every step of the way?

*Investigate the market using different search methods and come up with the best homes that fit your desired description.

*Schedule showings.

*Negotiate the best price and terms for you.

*Be responsible for providing services for your home(future) inspection.

*I can also recommend a good real estate lawyer for your transaction and make sure you ask them about 'title insurance'. I can also refer you to a good mortgage broker or brokers.

*There is also useful information on my site regarding RRSP'S and the First Time Home Buyers Plan and the types of mortgages available (terms and conditions apply). If you have any questions regarding these programs please let me know and I will try to answer them for you or I will refer you to someone who can.

*I will look after your best interests.

What is Title Insurance?

Title insurance is an insurance policy that protects residential or commercial

property owners and their lenders against losses related to the property’s

title or ownership.

Do I Really Need Title Insurance?

Title insurance is not a requirement in Ontario. The decision on whether or not you should purchase title insurance should be discussed with your lawyer, title insurance company or insurance agent/broker, to fully understand what type of protection title insurance can provide you, and

to determine if other options exist. Once you get all the facts, you can make an informed decision based on your specific situation and needs. It is important to keep in mind that title insurance does not replace legal advice when purchasing property.

What Does Title Insurance Cover?

For a one-time fee, called a premium , a title insurance policy may provide protection from such losses as:

_ Unknown title defects (title issues that prevent you from having clear ownership of the property);

_ Existing liens against the property’s title (e.g. the previous owner had unpaid debts from utilities, mortgages, property taxes or condominium charges secured against the property);

_ Encroachment issues (e.g. a structure on your property needs to be removed because it is on your neighbour’s property);

_ Title fraud;

_ Errors in surveys and public records; and

This brochure is provided for information purposes only. Refer to the terms of your title insurance policy for the details of coverage and exclusions.

_ Other title-related issues that can affect your ability to sell, mortgage, or lease your property in the future. Your title insurance policy will protect you as long as you own your property, and will cover losses up to the maximum coverage set out in the policy. It may also cover most legal expenses related to restoring your property’s title.

What is “Title Fraud”?

Title fraud (or real estate title fraud) is a form of real estate fraud that harms individual homeowners and their lenders. Title fraud typically involves a fraudster using stolen personal information, or forged documents to transfer your home’s title to him/herself (or an accomplice), without your knowledge. The fraudster then gets a mortgage on your home and disappears with the money.

If you are a victim of title fraud, you may be able to receive compensation for your losses if you submit a claim through the government’s Land Titles Assurance Fund (LTAF). For more information on the Land Titles Assurance Fund visit www.gov.on.ca/LTAF/.

What Does Title Insurance Not Cover?

When purchasing title insurance, it is important to read the policy and ask questions to be aware of the coverage that is provided. You also need to be aware of possible exclusions, which may include:

_ Known title defects (that were revealed to you before you purchased your property);

_ Environmental hazards (e.g. soil contamination);

_ Native land claims;

_ Problems that would only be discovered by a new survey or inspection

_ matters that are not listed in public records (e.g. unrecorded liens and

encroachments); and

_ Zoning bylaw violations from changes, renovations or additions to your property or land that you are responsible for creating. You need to carefully review your title insurance policy, as it may include additional exclusions and exceptions that are specific to your property Title.

*Gov.on.ca

Why you need a home inspection

• To evaluate the physical condition of the home you are considering purchasing: the structure and mechanical systems.
• Identify items that need to be repaired or replaced.
• Estimate the remaining useful life of the major systems such as electrical, plumbing, heating, air conditioning, equipment, structures and finishes.

 Real Estate as an investment

• Homes appreciate about 4-5 % a year
• If your property is an investment the mortgage interest and property taxes are both tax deductible. The government is essentially subsidizing your home.
• Your rate of return when buying homes is higher than most any other investment you could make.
• If you buy a house for lets say $200,000 and you put down $40,000. At an appreciation of 5% your home would increase in value by $10,000. This is an annual return of 25% on your investment.