Last updated 2 days 9 hours ago
The Sotheby's International Realty network has over 11,000 sales associates located in 590 offices across 44 countries and territories and we are continually growing.
This week, Sotheby's International Realty Canada celebrates the opening of our new flagship office in Toronto. The new office has been highly anticipated and we are excited for our Toronto team to finally be moving into their new facility located at 1867 Yonge Street.
We celebrate with a video which captures the energy we love in Toronto. http://bit.ly/yQyEez
To learn more about the Sotheby's International Realty network, visit us at southernontariocollection.com
Last updated 9 days ago
Imagine, after months of searching and debating, you've finally found that perfect investment property. Your offer has been accepted by the sellers and you are anxiously awaiting a response from your lenders in order to waive that final financing condition. You are shocked to learn that you have been declined.
What happened? Why were you rejected? There are many reasons why lenders can reject your application. It's important to understand that not all lenders are the same, but they do look at similar factors. Here are just some of them.
* Each lender has their own evaluation criteria. For example, some of them accept higher investor debt load relative to overall income levels. In the same time, others will focus on the strength of the property over the applicant’s.
* The property type. Some lenders are not willing to lend against student housing or even rental properties.
* Geographical location. Some institutions are not willing to lend in areas where property value is unstable and where the economic conditions maybe unstable.
* The structure of the deal. Some lenders don’t finance deals set up under a corporate structure (owner is a holding company). They simply worry about additional costs in case of mortgage default and power of sale.
Don't despair, just remember it's crucial to send your application to the right lender, not only the one with the lowest interest rate, but also the one that will be right for your particular situation. A professional mortgage broker can help you find the "right" lender for your property.
To read a full article on the Top 7 Reasons Why Lenders Decline an Application, see The Canadian Real Estate Magazine. To find a great mortgage broker, contact one of our sales representatives and they'll be happy to recommend a good professional.
Last updated 16 days ago
If you’d like more information about selling or buying a new home in the winter see our links below. Do you have more questions? Ask the experts at Sotheby’s International Realty Canada by calling 888.413.0184 .
- Need some additional info on maintaining your home in the winter and managing ice build up? Check out the Canadian Mortgage and Housing Corporation website for great tips.
- Nervous about selling your home? Not sure if you should use a realtor? Find out more about the real estate industry and selling your home on the Canadian Real Estate Association’s website.
For general advice on navigating the home buying process in Canada, follow this step-by-step guide at the Canada Mortgage and Housing Corporation.
Last updated 23 days ago
A snow covered home with icicles hanging from the eves is the perfect picturesque winter scene, but you are probably hoping that it is not your home. As the winter weather begins to settle in we start to see more and more ice and snow appearing on our roads, in our driveways and on our homes. With yesterdays temperatures dipping to a chilly -14 degrees Celsius we need to make sure that our homes are prepared and protected from mother nature.
Icing in the winter can be a big problem and a very expensive one to fix. There are simple tips to follow to properly maintain your home; keep your driveway and walkways clear. Buy salt and spread it around when you know that snow is expected. Start shoveling as soon as there is some snow on the ground, better to shovel 3 times during the day than one time at the end and break your back because the snow has gotten heavy.
One of the most common problems on our roofs is ice dams. This can happen on sloped as well as flat roofs. It is caused when heat escapes from the attic and melts the bottom of the snow on your roof. Water begins to flow where the ice is melting but then freeze again as soon as it hits a cold spot, thus creating a dam. The best defense for ice dams is to reduce the temperature in the attic and stop any air leaks coming from inside the house. Adding sufficient insulation to the attic floor will also keep the heat inside. Heating cables can also be used to help melt the ice, but should be installed in the fall.
For additional information about ice removal, click here and read more from the CMHC website.
If you are interested in selling your home, speak to one of our sales representative for best practices in preparing your home for showings in the winter.
Last updated 1 month ago
As the New Year draws closer and closer we begin to think about how we are going to change and improve our lives. We start planning our new years resolutions, which usually relate to ourselves directly; I will stop smoking, I will exercise, I will be nicer and so on. Let's not, however, forget about our homes. Why not make a resolution about improving your homes. Whether in small ways or full out renovations here are some ideas for what you can do.
* Alarms and smoke detectors are very important especially at this time of year. If you don't have any, put them in. If you do, make sure the batteries are good.
* Plan to be more environmentally friendly. Waste less. Recycle and separate garbage into the proper bins.
* If you want to make improvements to your home make a list and start shopping now. Buy products while they are on sale. You can do the work later, but the sales won't always be around when you are doing the actual work. Paint a room to freshen it up. If there is furniture you've thought about moving around, do it. You can always change it back if it doesn't work, but sometimes its the perfect way to refresh your look.
* Save energy. Use energy efficient light bulbs, turn off lights when they aren't necessary, turn off your computer/TV when you aren't using it, don't open windows in the winter for too long as it takes lots of hard work from the furnace to heat a room back up.
* Along with saving energy consider new energy efficient appliances. Do your research and think about your options, don't just buy the first appliance you see. Shop around; there are often great sales to be had during boxing week.
* Keep your home in shape. Regular maintenance will prevent costly repairs later on.
Get a fresh start this New Years. Stick to your resolutions and follow thru, if you start to waiver do at least one thing, but do it well. It's better to do one thing great than a bunch of things with poor execution.
If your New Years resolution is to sell your home or purchase a new one, speak to one of our knowledgeable representatives and they'll be happy to help. Click here to contact us.
