Tag: RECO
To explain “power of sale” in plain language, if I borrow money from a bank, we agree that the property will be a sort of guarantee. If I don’t repay the money according to the terms of my agreement, the bank can take possession of the property and sell it, and give me any money that is left over.
In November of 2019, the Ontario government announced plans to change the rules that real estate salespeople and brokerages must follow. The changes are outlined in Bill 145, the Trust in Real Estate Services Act, 2019. A bill that proposes changes to the, the Real Estate and Business Brokers Act, 2002 which the Real Estate Council of Ontario (RECO) now administers in order to protect home buyers and sellers and to uphold professional integrity within the real estate industry.
Given Ontario’s history and the settlement patterns of the 19th and early 20th century, historic homes in the province are numerous and eye-catching.
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Buying your first home is an exciting milestone. It is also an endeavor that can get complicated quickly, so I recommend working with a registered real estate salesperson or broker to guide you through the process.
The Real Estate Council of Ontario (RECO) has been looking out for home buyers – and sellers – for over two decades. I suggest that you start by visiting RECO’s website and following these five tips:
In the context of real estate, a “stigma” is an intangible characteristic of a property that may evoke a psychological or emotional response on the part of a potential buyer.
You’ve just made an offer on a home. here are some things you should know about what will happen from now until you move in.
I’m unhappy with my real estate salesperson and I’m not sure I want to work with him anymore. Can I cut him out of the process and deal with the seller’s agent myself?
The short answer to this question is that buying a condominium (condo) involves a number of special considerations you won’t encounter when you purchase an ordinary detached or semi-detached home, and you should be aware of them before you make an offer.
A listing agreement is a legal contract stating that you agree to work exclusively with a real estate brokerage for an agreed-upon length of time when you’re in the market to sell your home. The agreement makes you a client of the brokerage, meaning it owes you a fiduciary duty to act in your best interests in a real estate transaction.