The Importance of Home Inspection
The Importance of Home Inspection:
As many of you know we have been in a Sellers’ market for a couple of years now. In multiple offer situations some buyers elect to purchase a home without getting a home inspection. Or they rely on some abridged version provided by the Sellers. Often there is sufficient time for the buyer to do their own inspection in advance of the offer date. It may be a shame to do an inspection on a property that you will not own, but that is better than buying a place without knowing for sure that there aren’t any major deficiencies.
You cannot rely solely on how nice a place appears to have been renovated. It’s the stuff that you don’t see that should be a concern.
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Questions & Answers about mortgage investment corporation (MIC) in Canada will clarify and provide you more precise details. Professional real estate investors can take full advantage of this creative way of financing to buy and hold or fix and flip. Since their lending criteria is very liberal and their main security is the value of the subject property. It is lot easier to fund a deal when you are running a business under a corporation.
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What is a Mortgage Investment Corporation (MIC) in Canada?
A mortgage investment corporation (MIC) in Canada as it is often referred to by, is a company given special designation by Revenue Canada, highlighted in Section 130.1 of the Income Tax Act. It is a corporation set up to enable investors to invest in a pool of mortgages, mostly residential properties. Canadian professional real estate investors intend to use them more frequently as well as general public through informed Canadian mortgage brokers.
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Top 10 tips to pay off your mortgage sooner
Top 10 tips to pay off your mortgage sooner:
Canadian homeowners and real estate investors may not have a clear understanding how the Canadian mortgages work. All mortgages in Canada are compounded semi-annually. Mortgage penalties and administration costs are mostly misunderstood or not being explained to borrower of the mortgage.
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