We got our first offer yesterday from a surprise visit (15 minutes notice) from an older couple. They loved the house immediately and imagined themselves in it already by saying where everything would be going. They even told our agent which is the same agent that sold their home they would go to the bank and get the extra missing money from their sale. They sold 500k (all profit) and our house listed at 595k (we are open to negotiations) and they came in with agressive offer of 570k. 25k under asking and this after we've already lowered the listing by 35k because our agent asked us to lower. Our agent says counter for sure around 580k and since it's her client comission is only 2% so it comes out almost the same as if we sold 595k at 3.25%. We agree and sign the counter offer and the clients say 570 is the highest they will go and won't be giving us another offer. Our agent also called us a little later mentioning they called her back and said they fell in love with another home in a completely different city that was just listed that morning.

Wow did my agent just fuck us over royally ?

Can anyone chime in that I'm following the correct path of action here or direct me to a more appropriate sub for this?

Backstory:

Bought a house in 2018 in ontario, purchased title insurance. Had the septic inspected as part of sale, flow test shows good function, tank in acceptable condition for age, - no documents showing location of tile bed.

The Issue:

current events - the septic system backed up. In the process of addressing that, had a licensed inspector out who determined via some test holes, and putting a camera/locator into the tile bed the following conclusion:

The septic tile bed is improperly installed - half of the tile bed encroaches on the neighbors property by about 16', the tile bed is supposed to be set back from the property line by atleast 10' iirc.

I was advised that this is absolutely something that should be presented to the title insurance as a encroachment defect, That with the inspectors report, title insurance will cover resolving this picking up the cost of installing a new compliant septic to current codes.

Given the cost of a new septic system this is not an insignificant claim.

It is uncertain if the tile bed was installed illegally AFTER the lots were severed from the original parcel, or if this work was done prior to the severance and never disclosed as part of the severance - does it matter?

I am unaware if the neighbors are aware of the encroachment - I recognize I likely have a duty to notify them, when and how do I need to notify them? Should I do this - or have the title insurance or their agent do that on my behalf?

Will part of the resolution require remediation of the neighbors yard? does the tile get ripped out? or just cut off capped and abandoned? Presumably the neighbors have a claim for damages from the encroachment and have a right to be made whole, and any resolution would include a release from any future liability once the encroachment is resolved?

In order to put a new septic into my yard, landscape alteration will be required, am I correct in my thinking that I should have an ISA certified consulting arborist provide an evaluation (landscape appraisal) of the two adjacent mature trees that will need to be removed to install a new system? This cost (removal and replacement value) would be part of my damages?

How do i go about initiating the claim process - do i reach out directly to the insurer? do I need to involve the lawyer who handled the closing? I was planning on having a lawyer friend review the policy document before taking any action to make sure I understand what the limitations are.

I am documenting everything, keeping all related invoices, I recognize that due to winter weather its likely that no resolution can be under taken until the spring? Do I need to stop using my septic system, have the tank capped off and turned into a holding tank with frequent pump outs? EG a duty of care to stop the flow of effluent onto the neighbors property?

As you can imagine this is a huge nightmare before christmas....

thanks in advance for any advice/constructive comments

Hello.

I'm planning to buy a house from a private seller without a realtor representing me.

The seller of the house I'm interested in is saying that the house has currently 5 offers. But I'm not sure if that is real or if he is trying to BS me into making a higher bid.

Is there any way to know if that is true and seek legal reparations if the owner is lying?

Thanks.

Is it legal for a realtor to represent both the seller and buyer? This situation occurs when a buyer is not represented by a realtor, and the seller's realtor handles the whole transaction, and gets all the commission.

Is this illegal, or frowned on?

Considering buying a pre-construction detached home and wondering if it's better to go with a realtor or deal directly with the builder. I know a realtor might offer guidance, but builders sometimes have incentives for direct buyers. What’s been your experience? Are there any key pros and cons I should consider for either option?

I bought a new home with a real estate agent who started ignoring my questions and texts after the purchase became firm. I told him about how unsatisfactory the service has been and as a result we had a heated argument. It has been 2 months I haven’t heard anything from him. Now my closing is approaching in a week and the real estate agent never reached out. I just need to book the last walk around on the property before we close and really don’t want to see or talk to my real estate agent. Can I contact the listing agent directly to book the last showing? How is my lawyer going to find out the sellers lawyer information ? I know the easiest solution is to call my realtor but even thinking about messaging him is giving me anxiety so I don’t want to see or talk to him ever in my life

Edit: my agent is the broker of record himself and I have no one to escalate it to , the agency is basically his own company.

I need some advice for a house I am interested in purchasing but Im not comfortable talking with the people nearest me as they all have biases for or against this house.

My Dad wants to sell me his home for the price of $600,000. My base salary is $77,000 a year but with bonuses and overtime I have made $120,000 before taxes. I have a partner too who brings in around $35,000 a year. Next year at my job I’m anticipating a sizeable raise which will likely bring me to the $120,000 range without overtime but I still intend to work plenty of it. I currently have around $95,000 in my portfolios.

My Dad has offered to loan me $100,000 for the down payment which I would pay him back over the course of 10 years at the Bank of Canada’s interested rate which is 3.25% right now.

My monthly mortgage would sit around $3000 and my other expenses would bring it up to $5200. Plus an additional an additional $1000 a month to pay back my Dad.

Theres also the option to increase the size of my down payment in order to bring the mortgage down.

I’m just wondering if it’s too much for a combined income of $150,000 which will grow come next year. My Dad wants to move out sooner rather than later so I’m having a little stress on deciding if I bite the bullet and everything should work out or do I just keep working and stuffing away money and sadly pass on this opportunity. Any insight would be greatly appreciated as I don’t have many people to speak with about this.

Hi all,

I am considering to convert one of my fourplexes rental into a 8plexes rental. Zoning allows it. However I am worried about the potential development charges. I spoke with my architect and he said we can't know for sure until we have submit for building permit and the city will determine the charge. and at the moment we can only refer to a development charges table?

But that doesn't sound reasonable. I have no intention of continue the work if the end reason is 300,000+ development charges. Is there really no way to confirm the dev charges unless submit for permit?

Thank you for your time.

FTHB in Ontario with closing in early January. Wondering at what point is the LTT and lawyer fees paid? Is it the same time as closing?

I ask because I’m hoping to utilize the FHBSA in the new year but may need to have the cash available because of my early Jan closing.

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Hey everyone!

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How can I find the best place to rent in Canada and make sure that i don't get scammed by a landlord? Any tips or advice?

Hi, I’m looking for the buyer’s agent name for a recent property sale in Calgary. Apps like HouseSigma only show the listing agent, and my realtor friends in Ontario can’t access Alberta data.

Any tips or resources to find this info? Thanks!

675k house on market, 120k salary, 250k down deposit, 4.74% for 30 years. Recently single; will be floating this alone

Small property, seaside. Nice place, a little outside the city. Mortgage works out to be ~2.2k a month. I would save about 16% of my after tax.

Help? Am I crazy?

Anyone recently visited the site? Just wondering if construction is going on

Hey everyone, I'm considering buying another Plex for my setup, but I'm a bit hesitant due to the current state of the Canadian economy. With inflation and all the financial uncertainty right now, I'm not sure if it's the best time to make a big purchase. I'm looking for advice or thoughts on whether it's worth going ahead with it, or if I should wait for a better time.

Has anyone else been feeling the same way about making non-essential purchases right now? Would love to hear your thoughts! Ps I live in ottawa and I already own a triplex for 3 years now

Win for lenders and consumers alike, the government is amending the mortgage insurance rules to eliminate its mortgage stress test on low-ratio (“bulk insured”) mortgages that switch from a federal regulated lender to any other lender at renewal.

Effective today, December 16, insurable borrowers with higher GDS/TDS ratios can view option at renewal. These low-ratio mortgages can now switch to the competitive lenders and qualify at the contract rate instead of their contract rate plus 200 bps (or 5.25%, whichever is higher).

The change is huge for renewing borrowers who were unable to switch due to stress test. The reason is, the insurable rates they'll now have access to are often better than:

(A) uninsured rates (especially on lower LTV loans) (B) low-ratio renewal offers

I work in the mortgage department call centre for a big 5 bank. I'm working on getting a mortgage broker license. A family friend runs a wealth management company and wants a mortgage broker to refer his customers. It would be a good side hustle, but I wouldn't want to jump into that full-time right now or quit my job and work at a big brokerage.

I'd like to go part time at the call centre and work as a mortgage broker to gain experience before perusing that full time. I'm not sure if that's a conflict of interest but I don't want to ask my employer and alert them that I'm looking for other employment opportunities. Is it legal to work at a bank and as a broker?

Does anybody know any good websites or services for batch skip tracing commercial property owners information?

I have easily done this using services like Skipmatrix in the US. You provide an excel sheet with basic information about the companies and they return all the contact info you could want for about $0.15 per lead.

I have not been able to find an equivalent for Canada. I am guessing stricter privacy laws can make this difficult. Any ideas?

Hello! What tools do you use or have used in your home buying journey? E.g. house sigma for sold prices etc.

Hamilton vs Kitchener KWC best place to invest. which is the best place for rentals and faster appreciation of Houses -detached and semi -20250 and beyond