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Subject Free Offers; Still Risky!

Subject Free Offers; Still Risky!

This week we discuss writing a Subject-Free offer, or perhaps not doing so.  Specifically we look at why you may want to cool your jets and have a detailed conversation about your plan with your Mortgage Broker well in advance of writing such an offer. As it turns out...
Subject Free Offers; Still Risky!

Clarity Re Portability

Many clients ask what they think is the right question when it comes to moving their mortgage to a new property and all too often it leads to an incomplete and sometimes devastating answer. Ask better questions, get better answers. Don’t ask ‘is my...
Subject Free Offers; Still Risky!

Why So Many Documents?

Why does the Mortgage Broker want so many docs? – we actually don’t.   Why does the Mortgage Lender want so many docs? – they actually don’t.   Who wants all these docs? Who is it that does not trust what you are saying? That would be...
Fixed Vs. Variable – Two Bets, One Choice

Fixed Vs. Variable – Two Bets, One Choice

An age old debate, but why? Click Here for the Video Explaination   If you are still wondering about fixed vs. variable – it’s pretty firmly all about the variable, even with the July 11, 2018 Bank of Canada 0.25% rate increase factored in. Click...
Fake-ish News

Fake-ish News

Fake(ish) News: ‘Mortgage Rates Went Up Last Week   Real News: On April 27th TD increased their ‘posted rate’. What’s a posted rate? It’s the list price, the MSRP — you know that price that nobody actually pays…’rack...
Vacant Possession

Vacant Possession

DISCLAIMER: This post is written for buyers, in other words people who do not currently own a tenanted property. This post is not suggesting in any way that the rights of an existing tenant be infringed upon.   For sellers reading this post, and perhaps realising...

The Most Important Question This Spring

Short Version:   The most important question a home-seller must ask their Broker or their banker this spring: ‘Do I QUALIFY to port my mortgage?’   You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new...
Vancouver Real Estate; Candy For The Kids

Vancouver Real Estate; Candy For The Kids

Housing & Smarties   All levels of government are trying to control a situation akin to that of 22 kids that want a Smartie, and there are only six-and-a-half Smarties to be had.   As authority figures tend to, they are creating all kinds of rules about...

An Ineffective BC Budget

Let’s look at the impact, or lack thereof,  of one piece of the newly announced BC budget; The Foreign Buyers Tax.   Short Version   It was implemented poorly last time, and it’s being implemented poorly this time.   Both political...
Are you in a Variable Rate Mortgage? Me too.

Are you in a Variable Rate Mortgage? Me too.

Are You in a Variable-Rate Mortgage? Me Too. If you’re in a fixed-rate mortgage, this news has no impact on you. Mind you, ‘impact’ is too strong a word for the subtle shift that occurred Jan 17, 2018.   Short Version The math is as follows: A payment increase of...