Q: My friend just bought a rental property in Vancouver and she bought it with only five per cent down. How did she do that when CMHC changed the rules earlier requiring 20% down? A: Although CMHC will only finance a rental property with 20 per cent down, they’ll still finance a “second home” with as [...]
From now on you may want to reconsider paying $23.95 to Equifax for your credit score. You might be surprised to hear that what you get, may NOT be what you expect. You like me, probably believe that when you pay the additional $23.95 to Equifax, you’re getting the score that lenders rely on to [...]
Have you ever heard of the “Straw buyer” scheme? And it has nothing to do with farming.. It’s another term for mortgage fraud. The “straw” or “dummy” home buyer scheme. For example, a renter does not have good credit or maybe he/she doesn’t not have the income needed to get a mortgage, or sufficient down [...]
The quick answer is “Not Necessarily”. Before you rush out to pay off student loans, vehicle loans, visa’s and mastercards’s, you may want to call me first. Paying off your bills depletes your savings and may eat up the cash you were planning on using towards the down payment. Don’t get me wrong, being debt free is a great idea, but if it hinders your purchasing ability, it might not be your [...]
Lenders are in business to make (not lose) money. Consequently when a bank lends money it wants to ensure that it will get paid back. To maximize the possibility of being paid back, the bank wants to make sure that there is sufficient assurance that a person can and will pay back a loan. The [...]
So you’ve found the home of your dreams. Imagine buying it, only to find out that it was a previous Marijuana Grow-op. The Property Disclosure Statement DOES NOT protect you. Remember, the Property Disclosure Statement or PDS as it’s referred to in the industry, is simply a bunch of questions that the seller must answer [...]
The kitchen is the heart of the home, and it’s the most highly valued room by buyers, so you want to make it show its best. Here are some tips to create a captivating kitchen: You can cut down on visual clutter by removing items you normally store on the counter. This will help your [...]
That’s the question on every homeowners mind. There are two key survival strategies. The first is to think long term, have a plan and stick to it. History shows that this plan of action can pay off. The second tactic is to outperform the market. This means ensuring your property increases in value at a [...]
OUTSIDE: Trim all shrubs. Pull all weeds. Flowers planted. Leaves raked. Water lawn to keep green. Pick up and discard or store all implements, materials and debris that are not part of the lawn decor. All windows washed. Garage should be swept, neat and tidy. During the winter, all walks and drives should be shoveled [...]
Those of you who know me, know that athletics and fitness has always been a big part of my life. I was at the gym this morning with my wife and we were both observing one of the personal trainers with their client. Watching him train his client with obvious poor technique, made me think [...]
