Fighting the HST in Toronto Real Estate

Save the HST on Toronto GTA Real Estate

When they say that there are only two truisms in Life; Death and Taxes, let me at least help you with one. The Toronto Home HST TAX Buster!

During the malaise of Summer 2010 and to help with seemingly unmotivated buyers, we are prepared to absorb the entire HST portion of your real estate transaction as it pertains to the sale of your home.

This is intended to apply to Resale Homes.

We will establish a reasonable asking Price. Promotion, Provide you with a property video that will be seen by hundreds of inquiring shoppers on Realtor.com, MLS.ca and featured on my sites. Dozens of Photo's in addition to the limited photo stream that is available on MLS.ca, Adverting on myriad related real estate sites to get viewership and discovery, Presentation; the assistance of a professional home stager for the initial consultation. Most importantly, Negotiation. I will do my best to inform you of ALL the options that are available to you during the marketing period, especially during the offer and through transaction management.

How to avoid a Bad Romance in Real Estate

http://www.youtube.com/watch?v=4sYUxpvAZAc

How will your home be presented to the Buying Public online? With Google streetview so that buyers can place the homes photo's in context to neighbours and neighbourhood, A Picassa Slide presentation of the interior photo's and street that didn't make it into the top 9 with the Toronto Real Estate Board but still need to be seen, Video to place it all in a framed package. keyword advertising that is product specific to whom you are seeking as a buyer.

Bungalow in Etobicoke for Sale Sample

http://livingintoronto.housingstorm.com/2010/05/24/property-showcase-bungalow-on-nineteenth/

There will be a surge of homes coming off the market as listings expired at the end of June and Sellers need to re evaluate the Marketing, Promotion and Pricing of their homes. These listings will be competition for your buyer. How will we attract them? Marketing and Promotion do matter.

David Pylyp Listing Presentation What do I actually do?

http://www.youtube.com/watch?v=fGrhUlFl_-k

Interest Rate Specials are available from Astrum at Prime Minus 90 Get the current rates here;

http://www.davidpylyp.com/homeresources.cfm?advertiserid=1206 Your participation could save you $6 - $9,000 over the course of five years in a mortgage. This savings program is available to my clients only.

Thats not all, If you are selling.... You will need legal services. Stan Gelman, Lawyer, Mississauga, has graciously offered a Summer Sizzler of his own for all new deals closing in July and August 2010 of $400 per sale plus disbursements. Your own situation may cause this to change slightly.

Have a look at Stan Gelman's Land Transfer Tax Calculator to see how much Land Transfer Tax is payable on your next purchase. http://www.davidpylyp.com/ShowResources.cfm?Pageid=52214&TypeOfPage=6

To Contact David Pylyp Call 905 361 3387 or email david@davidpylyp.com

I invite you to call me over for a coffee and ask whatever questions you like. Its not as important to know what I know, Its more important for you to know that I care.

Lets start with the easy part

Call David Pylyp

RE/MAX Realty Specialists Inc.,

905 361 3387 or cell 647 218 2414

If this is not the type of marketing and service you are receiving, what are you getting?

Google David Pylyp Toronto yourself

Canada -- a great place to retire!

Canada Day is our annual opportunity to proudly celebrate Canada’s history and heritage and our achievements as a nation. On that happy holiday, many of us will likely pause for a moment to consider why living in Canada and being a Canadian is so great. Each of us will have our own reasons and, of course, there will be many we all share. One shared reason you may consider -

Canada is a great place to retire!

Maybe that’s because a comfortable retirement is something we take for granted but when you look at the many benefits available to Canadian retirees – benefits not available to retirees in many other countries – it’s clear we have much to celebrate.

 All wage earning and self-employed Canadians are eligible to receive either Canada Pension Plan or the Québec Pension Plan (CPP/QPP) retirement benefits, which are indexed for inflation. There are also CPP/QPP survivor and dependents’ benefits as well as a lump sum death benefit. A couple can choose to share CPP/QPP benefits for tax purposes.

 Canadians can take advantage of the tax-deferred, compound growth benefits of Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). Any Canadian resident who receives periodic payments from a registered pension plan can potentially reduce their taxes by splitting pension income with a spouse/common-law partner. Those over age 65 who receive RRIF income are also eligible for the federal and provincial Pension Income Credit and can allocate up to 50% of their RRIF income to a spouse for tax purposes.

 Those who have lived in Canada for at least 40 years after age 18 will receive the full monthly Old Age Security (OAS) benefit, which is indexed for inflation. Canadian residents who have lived in Canada for at least 10 years after age 18 will receive a prorated OAS monthly payment.

 Seniors with a lower income may be eligible for the Guaranteed Income Supplement (GIS), a tax-free monthly payment, which is indexed for inflation.

 Canadians can invest in Tax-free Savings Accounts (TFSAs) that generate tax-free investment income that does not affect income-tested federal benefits.

 Every tax-eligible Canadian gets the Basic Personal Tax Credit and those over age 65 also receive an Age Credit. Other tax credits that can benefit retirees include the Medical

Expense Credit, the Dependent Credit, the Disability Credit, and the Caregivers Credit. There are also generous tax credits for those making charitable donations.

 And, of course, Canadian retirees have access to a wide range of health care services at little or no direct cost.

Yes, Canada is a great place to retire! But to make your retirement all it can be, you need a plan that includes retirement income from other sources such as your company or personal pension plan and your own investments. Your professional advisor can help make sure your first day of retirement is as much a cause for celebration as the first day of July.

John Scholl CLU,CGA, B. Mathematics,

Consultant - Investors Group Financial Services Inc.

& Investors Group Insurances Services Inc.

Case dismissed against sellers of house with hidden defects

Back in April, 2006, Walter and Shelley Cotton signed an agreement to buy their dream home in Brantford. After closing, the house turned out to be the worst nightmare they could have imagined, requiring them to spend more than $85,000 to bring it up to building code.

Before the Cottons signed the offer to purchase, they reviewed the Sellers Property Information Statement (SPIS) provided by the sellers, Gary, Laurie and Carey Monahan.

The Cottons and their agent went over each question and answer thoroughly. The form disclosed that extensive renovations had been done to the house by the sellers without any building permit.

Finding themselves in the midst of a “hot” real estate market, the Cottons instructed their real estate agent to submit an unconditional offer without a home inspection clause — despite the agent’s advice to the contrary.

It was only after the transaction closed that the buyers conducted a home inspection and an electrical safety inspection, both of which revealed numerous problems.

Eventually, the Cottons had to gut a significant portion of the house so repairs could be done. The house, they said, was “in chaos” for the next six months.

The Cottons then sued the Monahans for the cost of the repairs, alleging that the Monahans actively concealed the many hidden defects in the house. The defence was that the Monahans did not actively conceal anything that they knew to be a defect, that they honestly answered the questions in the SPIS, and that the buyers failed to exercise due diligence by conducting a home inspection before committing themselves to the purchase.

The trial of the case took 10 days last December and January. My own estimate of the combined legal fees involved for a court case and trial of this length would be well north of $100,000.

Justice Harrison Arrell released his 19-page decision in late April. He began his analysis with the often-quoted words of the late professor (and subsequently Chief Justice) Bora Laskin in a 1960 Law Society lecture, when he said, “Absent fraud, mistake or misrepresentation, a purchaser takes existing property as he finds it . . . unless he protects himself by contract terms.”

Arrell also quoted a 1979 decision of the Ontario Court of Appeal which stated that a seller who is aware of a hidden (or latent) defect in a resale house has an obligation to disclose it to the purchaser only if it makes the house dangerous or unfit for habitation. Otherwise, a seller is not obligated to disclose either hidden or obvious defects in a house.

To be successful in a lawsuit, purchasers like the Cottons have to prove that there are hidden defects in a property making it dangerous or unliveable, and that the defects were known to the sellers who purposely concealed them — or that the sellers recklessly disregarded the truth or falseness of any representations made about known defects.

The judge dismissed the Cottons’ claim. He ruled that the defects in the house were not known to the sellers and that there was no evidence that the Monahans purposely or knowingly concealed any defects. He also decided that the sellers accurately and truthfully filled out the questions in the SPIS form.

This case is just the latest in a long string of recent cases which would never have gone to court but for the existence of the SPIS form.

In my opinion, the SPIS form, which is published and promoted by the Ontario Real Estate Association, is probably the single most frequent cause of Ontario real estate litigation. It poses huge, unjustified risks to buyers and sellers of real estate.

Two lessons emerge from the Cotton v. Monahan case:

First, unless you enjoy expensive court battles, never sign a Seller Property Information Statement. Agents who encourage their use may not be protecting the best interests of their clients.

And second, buying a house without conducting a professional home inspection is a very risky business indeed.

---

Bob Aaron is a Toronto real estate lawyer. He can be reached by email at bob@aaron.ca, phone 416-364-9366 or fax 416-364-3818. Visit the column archives at http://aaron.ca/columns/toronto-star-index.htm for articles on this and other topics.

Expired Listing Solutions Toronto - Oakville

Expired Listing Solutions for Toronto Real Estate

If your home has expired from the Toronto MLS system; You need to examine the potential reasons.

Did you receive the advice of a professional home stager?

Getting your home ready for sale can include a touch up of paint, a rebroadloom, a general declutter or actually engaging a professional home stager to prepare your home for sale. The only impression that your home can make is the first impression.

We will provide the services of a stager for you for the initial consultation.

You need to understand the Current markets conditions.

Are you pricing your home based on past sales from a year ago? The market has shifted into a Buyer's Market and people need to price their property to attract Buyers. Some neighbourhoods have adjusted more than others according to demand. The Market Watch Report is available monthly to review general market trends.

Of the almost 20 million Canadian internet users, 85% of those looking for a home use the internet. Prospective buyers who visit these various websites and want more information on listings can secure an immediate e-mail display of the actual listing and virtual tour. Shoppers can print the Featured Listing Page. We also include provide a LINK to view a video FLASH presentation.

http://www.youtube.com/watch?v=4sYUxpvAZAc

I welcome your questions about online marketing for your home, that actually present your home to more potential shoppers. By using innovative high IMPACT marketing on multiple websites, Buyers that are not necesssarily local to our market will have an opportunity to preview your listing.

Contact David Pylyp
RE/MAX Realty Specialists Inc.,
905 361 3387 647 218 2414


If this is not the type of Marketing and Promotion you are receiving; What are you getting?
Google David Pylyp Toronto Professional and Persistent in Getting things done

If I list for ZERO will they come?

New business Models and will they succeed.

Last month Jain launched [a new company] where realtors get to bid for prospective customers. Potential vendors place their listing on the sit, and agents send in a marketing plan and other details, such as how much they expect in commission. “Why not have agents competing for your business? The homeowner wins because he gets the best basket of services and price,” said Jain. http://www.yourhome.ca/homes/realestate/article/822415--upstart-real-estate-companies-launch-war-on-commissions#comments

This is absolutely correct! If you are buying a cantaloupe off the produce shelf. You could squeeze a few melons and make a selection. Every Seller will select the cheapest forum to sell; but here is the reality Not all services are indeed same. The article above presumes all are the same. Here is a better response. http://www.youtube.com/watch?v=4sYUxpvAZAc What do I do for you with Online Marketing? http://www.youtube.com/watch?v=1vuPCF3-ebo

Another wise and sage agent from Naples in Florida recently brought to my attention;

Naples has a population of 22,000, people. We had five THOUSAND Realtors in Naples. Most were part time, retirees and it showed, and continues to be a factor. With sixty golf course communities...an agent has to be on top of things. I love your reinforcement of what a good Realtor provides. No shortcuts to being the best and we also should expect the best from our clients. Marcia Hawken http://activerain.com/choose_naples

Incredible! If I applied the same 5/22 K logic to Toronto There would be 1.0MM out of 4.5 MM population. I cannot imagine the competition for business at that level. Imagine One Million agents in the Toronto GTA. No problem if we all list for one penny.

Winnipeg had commission wars for years that finally collapsed the MLS system into a scaled tariff for a sale that has not changed. (to my knowledge) Proven ideas and business models work and are used because they are tried and tested.

Lets have a little reality check, the person you are dealing with as a professional realtor usually has 10 plus years in the business and had done hundreds of transactions. They [we] are prepared for the inevitable and unexpected and not emotionally charged at the outcome. We are involved and included, vested in your success to conclude a safe sound business transaction and move to your next home.

Umm Toronto Star I want to use your printing presses to print my flyers and coupons. You don't mind if I use a little ink and paper on the way by. Just deliver these for me please OK?

If everyone provided the same level of effort and work product the business model would be a financial institution or bank. Oh, Thats right! Thats where the current model evolved from in the 80's. Remember all the Trust Companies that had real estate divisions?

Best Agent for Real Estate Toronto

Possibly the best real estate agent in Toronto West, Etobicoke and Mississauga to Oakville. How can I say that to you? I have believed for 22 years that with honesty and hardwork, word of mouth would carry the message out to new clients.

We now have 32,000 agents registered in the City of Toronto, We are all competing for your business. The video above is playing Bad Romance from Lady Gaga. It really does speak to me in the sense that many agents promise the moon yet fail to deliver. So How do we Quantify the Best Agent agent for real estate in Toronto?

Is it their years of practice? I have been selling for 22 years. When does one become experienced? I have sold an average of 15 - 20 units per year. Are you skilled at Landlord Tenant Tribunal issues? Yes, been to LTT Court many times to present for Landlords. Am no longer licenced to represent you except PRO BONO. (to help you)

Is it the ability create enthusiasm and viewership for your webpages online? ShopTOism and David Pylyp dot com now receive en excess of 250 thousand page views per month. The youtube video channel is in excess of 32,000 viewed videos. Can we tangibly demonstrate value in bringing your home to a BUYER's attention? I know I can.

Can I assist you to fund your transaction and explain the combinations in detailing with amortization tables and net comparisons of different funding choices. I will provide you a future Value proforma for a multiple unit apartment building over a ten year period where you and I will sit and decide the variables and assumptions we are creating. I am able to explain earnings before interest and taxes (EBIT) and discuss Capitalization Rate logic.

I am trying NOT to waste paper in both flyers, newspaper advertising and the likes of yellow page promotions. People receive these publications and merely toss them into the blue recycle bin. If I have a more targeted way of getting Buyers to see you, there must be a better way.

With communicating, I love the new iPHONE and iPAD technologies and am eager to join. I am struggling because I receive in excess of 100 emails per day that are a) correspondence b) MLS.ca property inquiries c) website questions d) spam and junk like all of us receive. We are text capable although thumb challenged, (My wife says I have disposable thumbs) Eye sight and vanity make texting a keyboard related skill. Not able or lawful while driving.

I am how ever able to answer your telephone inquiries at my follow me number 905 361 3387 or direct to my cell phone at 647 218 2414 generally prior to the third ring. There is no smurf assistant one, two or three, before you talk to me.

With real estate commissions as prevalent an issue as they are, all fees are competitive; you are paying for my skill and experience and techniques, acquired over decades, to handle and answer your queries without a gauntlet of "helpers" screening your call. When there is a sign call on your property it will be handled quickly by myself as soon as possible, show as soon as practical. (not by a newly licenced assistant who is part of a team)

But I will ask if the Prospect / Client is currently under contract with another brokerage. It does not help my situation or yours to inadvertently divulge information about your property and your life events to the betterment of the Buyer Prospect. To that end I have developed a Summary sheet of why you would want to have buyer Agency when looking for your next home. I will not list your house at 20%v over the current market trend to have you dusting cleaning and making the beds on a daily basis only to revisit the pricing at 90 days and say, "I am so sorry, I originally thought that...." I will not change sides in the negotiation because I have made friends with the buyers 7 hours ago. I will NOT ask you to hold your own open houses. I will not ask you to negotiate your property without knowing the variable and myriad choices available to you. I will ask a) If you would like to accept the other agent's offer b) dismiss them out of hand c) Counter offer their proposal.

Why am I asking if you are under Buyers Representation Agreement? (BRA) or Buyers Agency?

Buyer Client

That is my job; So here we are and the concept is simple; If I can add value to your real estate transaction, in the GTA that is encapsulated by Etobicoke, Humber Bay, Toronto West, Mississauga's Lakeview, Port Credit and Lorne Park to Oakville's Clearview and slightly beyond; If you would like your listing promoted to the 32,000 licenced realtors that are currently scouring the GTA for business, If you would like your home featured on youtube, Housing Storm, Active Rain and Google's Blogger webpages as well as my websites as the Featured Home, I invite your inquiries and comments.

How do you define best agent in Toronto for you?

David is all Toronto, all the time. A Toronto Realtor® with Luxury properties, David authors Living in Toronto and ShopTOism, HumberBayShore.com and Davidpylyp.com. [He] is always on communication's leading edge. He goes out of his way to engage and be engaged, often using Humour to keep the mood light and give everything he does a Toronto flavor. You can find him goofing off or instigating trouble at ShopTOismTwitter, Flickr, Facebook, Youtube, ActiveRain, Blogger or LinkedIn