It is critical for a home buyer contemplating the purchase of a home with oil heating that they have a clear understanding of their responsibilities and liabilities under laws that have been implemented to protect our environment. It is also important to note that Mortgage Companies may not advance Mortgage funds and Insurance Companies may decline Insurance Coverage if the property does not meet the new regulations. The Ministry of Consumer and Business Services recently amended Ontario’s Technical Standards and Safety Act (TSSA) to include new regulations with regard to fuel oil. Inspections One component of the new regulations involves
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Buying a home that was once a Grow House has some advantages as they can usually be purchased below market value. Usually the owner has done all necessary work using professionals to ensure that the property is safe for human habitation. However in recent months one of the growing difficulties with purchasing a residence that was once used as a grow house is that there are limited companies that will provide mortgage funding. If you are considering purchasing this type of home, first consult with your Royal LePage Team Realty Representative to ensure that Mortgage Funding will be available. Grow
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The home insurance market has changed dramatically over the past years especially in the aftermath of 9-11 Gone are the days when a buyer could simply call their insurance brokers and arrange for insurance on their new home within 24 hours of the call. Standards Are Tougher Today the insurance companies are not only looking at the home to be insured but they are also taking a close look at the homeowner as well. When considering the home to be insured, the insurance companies are looking at age and condition including structural components, electrical, plumbing, roof, windows, heating etc. and
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  When purchasing a home with an auxiliary dwelling unit i.e.: a basement apartment or in-law suite or area in the home or garage that contains kitchen and bathroom facilities that are intended to be exclusive to the unit, as the home buyer it is imperative that you obtain a Fire Retrofit Certificate to ensure that the area meets safety and fire codes if the area in question is to be used futuristically as rental income or is to be occupied by family members. Strict laws have been put in place to ensure human safety and if the area is
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Careful attention needs to be paid to what type of wiring exists in the home you are contemplating on buying. If your chosen home insurer finds that Aluminum Wiring is present in the home, they may refuse to insure the property causing delays on closing or failure by the mortgage company to advance mortgage funds. All mortgage companies prior to the advancing of mortgage monies need evidence and undertakings that the property has insurance coverage. Not addressing the issue of Aluminum Wiring prior to closing could result in a litigious situation with a claim for damages from the seller. It
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With the volatile nature of stock markets in previous years a great alternative to investing is purchasing income producing properties and becoming a landlord. Real Estate historically has always been a sound investment in the Ottawa area as evidenced by steady increases over the years. While real estate is a great investment and always increases, there is a negative side to this type of investment. Real Estate is a tangible asset and needs time to liquidate, while on the other hand, stocks, an intangible asset, can be sold within the same day. However, if you have the staying power to hold
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It’s really never too soon to begin planning for a move, and veteran movers have found that a comprehensive timetable and checklist is the best strategy to ensure a smooth relocation. It’s also a great way to involve the entire family in the move and to spread some of the responsibilities to each person, including your children You’ll feel a sense of accomplishment as items are checked off. Moreover, as the weeks roll by, your checklist will help ensure that nothing has been overlooked or omitted from your planning, and that alone will go a long way toward relieving some
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With the exception of Rockcliffe Park, the City of Ottawa now allows secondary   suites. So a home owner can build one (with a building permit) or get the city’s stamp of approval on an existing one, provided the home owner brings it up to building and fire code standards. This is often a basement apartment, but the more correct description is “secondary suite” or “secondary dwelling unit”. If not built in the basement, a secondary suite can only take up 40% of the overall upper floors. A suite can be built in a garage, and each half of a semi-detached can have its own secondary suite. Also, each (legal) duplex is allowed one secondary unit – effectively making it into a triplex.
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When purchasing rural property it is critical that your Offer to Purchase contain provisions for the testing of the property’s water supply to ensure that it is safe for human consumption and usage. Your Royal LePage Sales Representative will advise of areas around the Ottawa Region that are known for water problems and will ensure under all circumstances that the proper clauses needed for the testing of well water are included in your Agreement of Purchase and Sale. How Can Ground Water Become Contaminated? Any addition of undesirable substances to groundwater caused by human activities is considered to be contamination. It
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Health and Fire Safety When buying a home with any type of wood burning appliance, including a wood burning fireplace, wood stove, forced air furnace etc., it is critical that you have the appliance inspected to ensure that there is not a build up of creosote. This inspection will also identify if any liners or chimneys have been violated which could possibly cause dangerous toxic gases to escape into your home environment. Insurance companies and mortgage lender will require that these appliances have a W.E.T.T. Inspection, (Wood Energy Technology Transfer).       Your Royal LePage Representative will help guide
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