Selling a home requires decisions about price, timing, repairs, offers and closing. During a separation, there is another layer. Before the property is listed, the spouses may also need to decide whether either of them wants to keep it, whether a buyout is financially possible, who will pay the carrying costs while the property is on the market and what will happen to the sale proceeds when the transaction closes. For married spouses in Ontario, there are also special legal p

After separation, one of the most practical questions is often: Can I qualify for a mortgage on my income alone? For some people, the answer determines whether they can keep the family home. For others, it determines what they can afford to buy next. Separation can change both sides of a mortgage application at once. Household income may drop from two incomes to one. Support payments may become a continuing financial obligation. An existing joint mortgage may still appear as

Saving for a down payment is only one part of preparing to buy a home. Before the property becomes yours, there are also legal fees, taxes, adjustments, insurance costs and other expenses that may need to be paid before or on closing. For first-time buyers, the important question is not simply: “How much is my down payment?” It is: “How much money will I actually need available to complete the purchase?” CMHC and the Financial Consumer Agency of Canada suggest budgeting appro

When one spouse wants to keep the family home after separation, agreeing on who gets the property is only part of the process. The spouse keeping the home may also need to qualify for financing in their own name, pay the other spouse the agreed amount, deal with the existing mortgage and complete a legal transfer of title. That brings two processes together: the family-law settlement and the real-estate refinance or transfer. The buyout has to work both legally and financiall

Buying a condominium means buying more than the unit itself. You are also becoming part of a condominium corporation with its own finances, governing documents, common expenses, reserve fund and obligations. For buyers of resale condominiums in Ontario, one of the most useful ways to understand that bigger picture is the status certificate. A status certificate can reveal information about the condominium corporation and the particular unit that may not be obvious from a show