People who are in the process of purchasing a home might also consider purchasing title insurance. While it is not a requirement, title insurance may be very beneficial to potential homebuyers. The coverage can protect the property owner from potential losses associated with the ownership of the title and typically ends only when the title is transferred to another person.
The importance of title insurance in Ontario
Professionals needed during a home purchase
Purchasing a new home in Ontario is a process that can rarely be done alone. Before signing an agreement to purchase residential real estate, a buyer will need to consult various professionals to ensure that the deal goes smoothly.
Co-buying arrangements growing in popularity
Rising housing costs are causing home buyers in Ontario and across Canada to turn to unconventional ownership strategies; among the most intriguing of them is co-buying, which involves purchasing a home jointly with friends or relatives. Co-buying arrangements allow young families to pool resources and buy together, saving money or purchasing higher quality homes in better neighbourhoods than they could afford separately.
Enforcing rights of private mortgage lenders in Ontario
When you are in the business of lending borrowers money secured by their real estate purchase, it might seem as if borrowers who fail to pay are able to drag their cases out for a long time, making you lose money. Property owners might find that they are waiting months for the case to proceed through court, preventing them from selling the property during a peak in the market. In other cases, rental properties may not be leased out while a resolution is pending, which increases the owner's losses.