Monday, July 22, 2013

Should you know if it was a METH LAB or Grow OP?

If a Toronto Home you are considering as a purchase was a GROW house and forfeited their hydro meter, required a ESA re -inspection to have their occupancy permit reinstated then paid fines; Do you have the right to know?

HomeVerified Home and Neighbourhood History Reports
OREA has received member inquiries about privacy issues arising from HomeVerified home and neighbourhood history reports. These reports disclose the history of insurance claims and reported incidents of marijuana grow-ops and methamphetamine labs at subject properties. They are currently available for purchase by listing brokers through Teranet's GeoWarehouse.
In response to these member inquiries, OREA reviewed sample HomeVerified reports with outside legal counsel and met with HomeVerified and Teranet. After carefully considering the matter, we have concluded that use of these HomeVerified reports by our members raises significant privacy law concerns.
Specifically, we concluded that if a privacy complaint is made, Canada's Privacy Commissioner would most likely decide that the HomeVerified reports contain personal information under Canada's Personal Information and Protection of Electronic Documents Act. That law requires the consent of the individual before you may collect, use or disclose their personal information for commercial purposes. Despite our efforts, we received no assurances that the necessary consents are being obtained from the individuals whose personal information is provided in these reports.
As a result, OREA would like to advise its members that, at the present time, their commercial use of HomeVerified home and neighborhood history reports without the consent of each individual whose personal information is in the reports, places them at risk of contravening applicable privacy law. Complaints made to Canada's Privacy Commissioner could result in the member being ordered to cease this practice, and in some cases could lead to a court ordering the member to pay monetary damages.
To date our members' inquiries have been limited to HomeVerified's product. We understand there is at least one other provider offering home history reports to our members in Ontario. We will take similar steps to consider whether our members' use of other available home history reports also puts them at risk of contravening privacy laws.
OREA will continue to monitor this issue and will keep its members informed of any further developments. For further information, please contact Ontario Real Estate Association. 

In this instance deferring in favour of criminal activity seems wrong.   If you have a Criminal Charge but the charge was withdrawn or dismissed  I guess that the MOLD in the walls and ceilings will self repair.

I think that Buyers are entitled to this information

Sunday, July 21, 2013

So they lied about the flooding....

You bought it...   They said the basement was dry.  You have an SPIS.

Cellar flood among wave of lawsuits from disclosure formSeller Property Information Statement has prompted over 200 court cases since 1997 In the wake of widespread flooding in Toronto last week, I’ve had a number of phone calls and emails from people trying to sell their properties. They ask about their legal obligation to advise the buyers of a flood which occurred after the signing of a purchase and sale agreement, but prior to closing.
.... After inspecting the property, Adam and Olga Soboczynski submitted an offer which was prepared by an agent who was a friend of the Beauchamps — the sellers of the home. The offer was accepted with a price of $290,000.
Before the offer conditions were waived, the sellers delivered to the buyers a Seller Property Information Statement (SPIS) which was provided to them by the agent. The form is published by the Ontario Real Estate Association (OREA).

In the SPIS, the Beauchamps stated the property was not subject to flooding and they were not aware of any moisture or water problems. At the bottom, the form states that the sellers will disclose any “important changes” to the buyers before closing. 
After receiving a favourable home inspection report, the buyers waived the conditions making the offer firm and binding.   

Litigation  [suing people] is incredibly expensive. All of this could be avoided with the purchase of a Home Verified Report that we offer to all our home purchasers as part of their due diligence. 

Are you ready?   Lets get started or call 647 218 2414

Wednesday, July 10, 2013

We don't have this problem - Park Lake Residences

Toronto's recent experienced unprecedented  flooding that resulted in a loss of hydro power and flooding in many underground garages.  Additional Pictures and Photo Cred

Park Lake Residences has above Grade Parking on four levels ALL ABOVE GRADE.   The building has 230 parking spots for the 278 suite owners  and 30 parking spaces for visitors.   Additional parking is available at the Municipal Green P Parking along Lake Shore Blvd. 

Many of these new tower construction buildings have back up generator systems for lights in stairwells and common areas and to operate mechanical systems like the elevators. 

If you want to work with a Realtor who is intimate with buildings in west Toronto / Etobicoke  give us a visit at 

David Pylyp
647 218 2414

Cliff Dwellering - In the Digital Age

Photo Cred BlogTo
The hydro power (electricity) has been out for 10's of thousand of Torontonians for the last two days, going on 3 days a results of a large storm cell that brought rain and world wide attention to our plight on CNN.

The reliance of city living and the simplest things that we take for granted;

  • Elevators and underground parking
  • Diesel Power generators for backup power systems
  • The coffee machine
  • The electric razor
  • The Hot Shower in the morning before work
  • Charging your phone and ipad
  • Your TV in the evening
  • Food in your fridge and cooking
  • The internet connection
  • Laundry

A young mother lamented this morning in the elevator; "It's not just the food we're throwing away or the sleepless nights with the heat,  Our daycare center for our daughter is also without hydro and closed.  We just don't know what to do."

We could listen to the radio for Hydro One updates of rolling black outs in Etobicoke, but my radio plugs in and I'm busy cleaning out everything from my fridge today.

If someone had asked just a few weeks ago what the greatest achievement for our society was, I might have answered the ISS International Space station; Google glasses that placed a computer in your glasses, a medical marvel or mechanical heart.
Today, I say that single step in mankind was harnessing and generating electricity.

Toronto had deferred for too long the required improvements in infrastructure that prevent us from truly being considered a World Class City.

When we go looking at houses we need to request their insurance report for the drains backing up and flooding their basements in this rain storm #FloodTo 2013.   You will see its in the thousands.

Want to go looking at houses or condos?

Let's wait till the power is back on  ok ?

Friday, July 5, 2013

Are you really buying? There is a risk -

The Toronto Real Estate market just seems to defying logic and continues to increase in price [and competition] for single family homes.  Taking the average sale price in the 905 [ ring of homes around the 416]   Land Transfer Tax Calculator net of First Time Buyer Rebates.

Average Sale Price in 905          $598,708
Ontario Land Transfer Tax              8,449
Toronto Land Transfer Tax              7,699
Inspection Legals      +/-                 2,500

Mitigating Factors;
You are impacted by two land transfer taxes PLUS the legal fees to close.   I am assuming that CMHC Hi Ratio fees do not apply ( unless you are media where everyone is buying with 5 % down)   Average Mortgage in Toronto is $270,000.

Buyers have been reduced by the Bank of Canada reducing recommended amortization terms to 25 years. You will be taking a five year fixed rate because that is prudent with all the rhetoric about increasing interest rates.

Selling after 4 years of ownership will incur the following expenses;
  • Lawyer Fees      $ 1,600
  • Mortgage Penalty at 3 months differential  $3,000
  • Real Estate Fees   assumes 5% but we all negotiate  $30,000
  • Irrespective of the property taxes and living expenses of heat, hydro, water, insurance repairs gardening, repairs and improvements....
The Toronto Real Estate market would need to gain just shy of 10% accumulated over the next 4 years JUST to BREAK EVEN.

Real Estate is something to buy and hold for decades; raise a family. Plant roots in a community, Join volunteer Groups and Community Watch.  Worship, have christenings and weddings.  Graduations.

I appreciate the benefits and concepts of home ownership and building equity.  I do not believe in Buying to Flip with our Expense and legal structure of ownership.

What do you think?  Ready to Buy a house?   You're staying put, Right?

Tuesday, July 2, 2013

Mr Christie's Go Train Stop - Park Lawn and Lake shore

Why can't we have a MR Christie's Go Station PLUS the Mimico?  They serve two distinct and growing communities.

Mimico is established and HUmber Bay Shore is nearing 12,000 condo units immediately at Park Lawn Road and Lake Shore Blvd., West.

“Fundamentally the issue is because the Mr. Christie’s bakery owned by Mondelez is going to close, which creates the opportunity to acquire land for a new GO station at Parklawn.” 
Milczyn said the point of his original motion was to get Metrolinx, which is carrying out $44 million in renovations to the Mimico GO station, to provide feedback to the city on relocation. But according to the report presented at committee, the transit planning agency, which recently announced extended service for the entire Lakeshore GO Train line, didn’t respond to the city’s requests for consultation. 
“The key issue is engaging Metrolinx in a discussion on the potential opportunities to improve access to GO service routes for south Etobicoke,” he said. 
Spokesperson Vanessa Thomas said Metrolinx has had frequent conversations with city staff on the Mimico station renovations which includes constructing a pedestrian tunnel and expanding the north passenger platform to accommodate 12-car trains. 
“Currently, we have no plans to build a GO Station at the Parklawn location. Currently, we are working on upgrading Mimico Station,” 

The Mimico community is bountiful and thriving with Bake Shops, Grocers, Cafe and Restaurants.   Why relocate the station?   Better to create an additional station at Park Lawn Road and Lake Shore to serve a completely different community; being Humber Bay Shore.

What do you think?