Real Estate – Homes & Spaces by Ema Dantas

The Connection is a place dedicated to you and your needs in an ever changing world. Having an extensive and diverse background in multiple businesses, a group of Christian women created this group as a place to pass along all of our connections and knowledge we've obtained throughout the years, with no expectation of something in return. Whether it be questions or needs in health and wellness, real estate, financial services, counselling services, trades and many other professional and personal recommendations, one of us will be able to guide you in the right direction. Although we are all for supporting fellow entrepreneurs, we wanted to create a safe place for people to come knowing that it is not transactional in any way. Therefore, we will not allow promotion of businesses on the page, unless it is in response to someone requesting it. In general, this is a community created to serve others and their needs in life. No networking, no one trying to sell you anything (unless you request it specifically); just a safe place to come and express any questions or needs, run by a group of women who have a lot of experience and desire to povide solutions during these uncertain times.

Welcome back to another episode of Homes &  Spaces by Ema Dantas. Today, I want to share a personal reflection on something I've been observing more and more lately—Power of Sale homes in Ontario. This was expected since the pandemic because of the low interest rates our government offered us. BUT now we are paying the price. Its a topic that's gaining a lot of traction in the Ontario real estate market — purchasing a power of sale home. If you're a first-time homebuyer, an investor, or someone just curious about how to make a smart real estate move in today's economy, this episode is for you.”

My guest today is Tracy Kambietz. Tracy has been a licensed Realtor in 3 provinces over the span of her 20 year career in Real Estate. She specialized in relocations in Calgary's ever changing market and during the period when everyone was relocating to the city for work. Tracy also worked in the Okanagan of beautiful BC, assisting clients from Calgary and Vancouver purchase recreational and investment properties. That eventually lead her back home to Ontario where she focused solely on the cottage market in Muskoka and Georgian Bay. Tracy's vast knowledge of various major markets across Canada makes for interesting conversation, which is why we're here today. Have a listen.

Delayed occupancy compensation up to a maximum of $7,500 is payable:If occupancy occurs on a date after the Firm Occupancy Date; orIf you exercised your right to terminate the purchase agreement due to delay as permitted by the Addendum

In this episode Ema explains why Exclusive Listings Agreements do not favour the seller, and why.To put it simply, an exclusive listing agreement the seller is limiting him or herself to working with one agent and his or her buyers.  In a non-exclusive listing, your chosen real estate agent is working on your behalf with an army of agents and their clients, so that you home can be sold fast and for the most money.Have a listen.

The demand for affordable housing along with government guidance is allowing for considerable opportunity for extended living spaces and income  generating opportunities for the savvy investor. Today I have Shannon Hammer, the President of Bark & Co giving us an overview of what are tiny homes and how his company's Suite Homes are different and why perhaps you may want to consider one as an income property.Tiny Homes have been growing in popularity globally due to their relatively inexpensive cost and low impact on the environment.  Depending on the size chosen, most will include all the amenities you expect in a larger home, while embracing a minimalist living philosophy. These small homes are no longer just for vacation properties. They have evolved as conventional options for in-law suites, younger generation suites, office and rental income apartments for long and short-term tenants.Their popularity has exploded since Ontario introduced Bill 23 which allows for legal secondary dwellings on many existing properties. Suite homes are the perfect solution. They can be installed easily and fast; and even sold or moved if the need arises. 

Ema talks breifly of what this Act means, which includes:"This legislation ‘cuts the red tape' associated with additional residential units within new and existing houses, as well as accessory buildings. Now up to three residential units per lot will be permitted “as of right.” "

Ema talks about facts of the current interest rates and the real estate market generally.

When thinking about a vacation property, it is important to be armed with the right information. Ema gives you some examples to think about.

When you purchase a home, it’s often recommended that you have a home inspection done.In fact, a typical Agreement to Purchase Form will include a standard preprinted clause with respect to home inspections. This is one of the most common conditions in an offer to purchase a property. Some agents allow their clients to forgo this step. In a competitive market, this is a condition and one that can put the buyer at a more unfavourable position when presenting an offer. So skipping the home inspection and not placing this kind of condition in an offer can be tempting. Before you make the decision, consider the benefits of a home inspection. Because the consequences of buying a home, which one does not know what literally is behind the walls, is scary and a rabbit hole.

Ema is an expert on assignment deals.In this podcast she shares the basics on assignments.With an assignment, the Seller is actually selling their interest in a property (or shall we say, contract with the builder). They aren’t selling the actual condo (as they don’t own it yet); they are selling their promise to purchase a property.When you purchase an assignment, you are essentially stepping into the shoes of the original purchaser. You can’t renegotiate the price or terms of the contract, you are simply taking over the contract as it already exists. Listen and share to find out more.

Someone can steal your home. That is right. It's called Tittle Fraud and happens in connection with identity theft.In this episode Ema talks about it happens and gives advise on ways to prevent identity theft.

In today's episode Ema talks to her guest Saddy Ibrahim, a financial planner and member of the Bank On Yourself Organization. Saddy helps real estate investors, business owners, and full time employees grow safe and predictable wealth regardless of market conditions. Imagine a savings account where you can save and then borrow from it like in a loan.Well have a listen.... it's possible.

During these crazy times, your credit can be affected. Ema talks about how Covid-19 can affect your credit, what you can do to protect yourself, and where to go for more information.

Credit Scores are important, especially when we are looking for a mortgage. Today Ema talks about 10 things that don't affect our credit scores, things that can, but how to avoid them.

Today Ema talks about the Ontario Healthy Homes Renovation Tax Credit.The Healthy Homes Renovation Tax Credit is a permanent personal income tax refund for seniors and the family members who live with them.Those who qualify can claim up to $10,000 worth of home modifications ontheir tax returns and receive back 15 per cent of eligible expenses.

The quick facts about what it is, what it does, and how much it costs.Ema gives her opinion on how you can save money by not paying CHMC insurance.

With assignment sales are not your regular cup of tea. There are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. On the second closing (between the Builder and the Assignee), the Assignee pays the remaining amount to the Builder (usually with the help of a mortgage), and pays land transfer taxes. Title of the property transfers from the Builder to the Assignee at this point.Assignment sales require the services of an experienced real estate agent and a good lawyer.

Ema explains what is Tittle Insurance is.Why it's needed and how it works. Tittle Insurance is also part of your closing costs when you are purchasing a home.When you are buying a new home there are many details to consider. Tittle Insurance is something that usually no one things about.

Land Transfer Taxes are part of the costs when one purchases a home in almost every province in Canada. And in Ontario, the City of Toronto has their own land transfer tax.

Double representation or multiple representation in a real estate transaction in layman’s terms means representing but the buyer and seller at the same time, by the same real-estate agent.Most consumers are unaware that all Listing and Buyer Representation Agreements are with the Brokerage, not the individual Realtors (sales representatives/brokers) who work for the Brokerage. Double ending also known as multiple representation also occurs when the Brokerage has two or more clients on the same transaction – meaning both the buyers agent and the sellers agent work for the same brokerage, or in other words, the same real-estate office.And if this happens, that is ok, as each of the buyer and seller still have their own agent to represent them.Where there is a difficult line and one that may leave one of the parties, but in most cases, both parties, buyers and sellers feeling under served, not represented properly, unhappy, and in worst case scenarios, leaving the agent and brokerage open for legal liability.

All new home buyers should familiarize themselves with the Tarion warranty. Tarion formerly known as the Ontario New Home Warranty Program, was created by the Government of Ontario in 1976 to administer the Ontario New Home Warranties Plan Act. Its primary purpose is to protect consumers of new homes by ensuring that builders abide the provincial legislationThe level and amounts of compensation like in any insurance policy, vary and have stipulations. Today Ema provides a brief overview of the plan itself.

Why is this important. Covid-19 pandemic has made this essential. But aside from the pandemic and moving forward, it is both a great way for sellers to limit all those showings to potential buyers that house shop for long periods of time, its a great open to have open houses without all those out on a stroll that have no intention of buying a home, just drop in to see the home and for serious buyers, or house shopping affectionatos to view as many house as the want, when they want, from where they want!If you are selling your home, talk to your real-estate agent about creating a virtual tour of your home. And when i mean create a virtual tour I don,t mean a collage of pictures, or small videos, edited together to music. I meant an actually virtual tour of the home today! What it looks like today! The tour should include a walk thru of the whole house, with the agents comments, about each room, features, upgrades, showing characteristics, etc. The tour should also include live views from views, the back yard and of course a short tour of the street, and possibly the neighborhood.

Real estate is your business and your profession.An email with the agreement of representation should be signed before you start putting all the hard work into looking for a home for a new client buyer – and this should be done as soon as you gather all the the client is looking for.

Saving money for a home is not easy. Ema talks about 3 ways to consider to save money for a home.---BuffyThe most comfortable comforter on earth.Buffy offers a range of bedding products including the world's softest and coolest comforters, duvet covers, and sheets. They ship for free, don't charge you unless you decide to keep what you ordered, and have free returns if you decide to send it back.Buffy is seriously sustainable as well. Their products keep water bottles out of landfills, protect geese from live-plucking, and uses less water and land to produce than cotton.>> Get $15 Off a Buffy Comforter with code FLUFF15! Click below!https://shareasale.com/u.cfm?d=607762&m=81529&u=2236305&afftrack=---Visit Ema’s Website for Featured Listings and to search TREB's MLS® listings for the Greater Toronto Area.https://RealEstate.EmaDantas.com

The program was designed and aimed in making it easier for first-time home buyers to buy their first home by lowering monthly mortgage payments.But in reality it is not realistic to those looking to buy a home in Vancouver, GTA, or even the Peel Region and Halton Hills. Also the fact is that this program is a joint home ownership program with the government and the home buyer.

Ema in her Homes and Spaces series is gives her views on what you should be looking for in Real Estate agent when looking to work with one, when purchasing a home.You want your agent to be your assistant in this process.

The RRSP Homebuyers Plan (HBP) which allows first-time homebuyers to withdraw up to $25,000 from their RRSP, tax free can be a great way to safe for your downpayment and reap the tax benefits at the same time.---BuffyThe most comfortable comforter on earth.Buffy offers a range of bedding products including the world's softest and coolest comforters, duvet covers, and sheets. They ship for free, don't charge you unless you decide to keep what you ordered, and have free returns if you decide to send it back.Buffy is seriously sustainable as well. Their products keep water bottles out of landfills, protect geese from live-plucking, and uses less water and land to produce than cotton.>> Get $15 Off a Buffy Comforter with code FLUFF15! Click below!https://shareasale.com/u.cfm?d=607762&m=81529&u=2236305&afftrack=---Visit Ema’s Website for Featured Listings and to search TREB's MLS® listings for the Greater Toronto Area.https://RealEstate.EmaDantas.com

Development charges (also called development levies) are fees charged to the developer of any new home or condo by the local municipality. Developers of course transfer these costs to the home owners – you the buyer.Ema talks about this very important fee.

Why owning a home is a good financial decision

Using a Real Estate Agent – Ema talks talks about the 1st step in using a real estate agent to save big on your next new home build purchase

When is the best time to buy a new built home and other pricing information