GTA home prices & sales continue to soar…

An announcement made by the Building Industry and Land Development Association (BILD) this week reveals that demand for housing in the Greater Toronto Area is showing no signs of slowing down. The average price of new low-rise homes is up 22 percent from last year, reaching a new high of $992,231 in the month of September […]

Defaulting Buyers lose their deposit

Defaulting Buyers lose their deposit – even in a rising market One of the fundamental principles of contract law is that damages are based on the actual loss suffered by the innocent party when there is a breach of contract. Damages restore the innocent party to the position she would have been in if the […]

New rules for principal residence exemption

A seasonal residence, such as a cottage, cabin, lake house or even ski chalet can be considered to be “ordinarily inhabited in the year” even if you only use it during vacation periods “provided that the main reason for owning the property is not to gain or produce income.” As part of the new measures […]