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TheKingEast said:
It's not a fine, you're on the hook for the difference. Not smart to walk away
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Yup. Many people don't realize it's contract law. Failing to stand up to their side of an Agreement of Purchase and Sale could see the potential buyer on the hook for owing the seller the lost difference, forfeiture of deposit or anything else the court decides if it gets that far. We don't really know what happened here.
 
lenaitch said:
Yup. Many people don't realize it's contract law.
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That's why when I sold my NB house I refused to sign a seller's disclosure form. AFAIK the house was in great shape, but there was no upside to signing that declaration, only downside in that I am assuming liability for things I may not understand, such as the wiring or plumbing, since I have no idea of its specification or condition, only that it worked fine for me. The buyer tried to push for the agreement but I was in no rush to sell. Instead I told them to send in their home inspector to check whatever they wanted to see, so that the inspector is liable, not me.
 
Admiral Beez said:
That's why when I sold my NB house I refused to sign a seller's disclosure form. AFAIK the house was in great shape, but there was no upside to signing that declaration, only downside in that I am assuming liability for things I may not understand, such as the wiring or plumbing, since I have no idea of its specification or condition, only that it worked fine for me. The buyer tried to push for the agreement but I was in no rush to sell. Instead I told them to send in their home inspector to check whatever they wanted to see, so that the inspector is liable, not me.
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I have never signed a disclosure (Seller Property Information Statement) and no lawyer worth their salt would recommend that you do. I'm not sure whether a home inspector could be held liable for a deficiency. Any report I have read had so many boilerplate caveats and disclaimers that they are probably pretty much protected. I've actually one used one once. It was for a house built in the 1890s and we wanted a second set of eyes. In the end, he didn't tell me anything I didn't already learn from my visits. If you can get one willing to do it, you are better off using a licenced general contractor.
 
When do we start seeing a mass exodus to Buffalo and Western New York?

Spotted this listing, below, in Downtown Buffalo, a short walk to the bustling Allentown neighborhood.

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yeap, developers will just pass on the cost to buyers , thanks government for making it less affordable lol...
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As much as I like having them close I will suggest to my two young adult children to seek their fortunes elsewhere other than Toronto. As a 25 y/o, recent uni graduate (studied int'l biz) back in 1996 I was able to get a decent $40k job as a global sales manager and by 1998 after steady pay increases, married and then bought our five-bedroom semi in Cabbagetown for well under $300K, or about four times our combined after tax income. My kids will graduate in 2025-26, and a similar job as mine will today start around $65-$70k, if they're lucky. If they marry or pair up a combined pre-tax household income of about $130k is probably reasonable. But at $1.5 million, a house like mine would be over sixteen times their after tax income! That's nuts. So, if they want to stay in the city and own their home they'll have to own a condo, or if they find work and leave the GTA they can afford land rather than a box in the sky. We'll see where they land.
 
Yeah, I love Toronto and we can afford it because we bought our first place in 2009, but I'm not sure I'd recommend Toronto to a young person these days unless they are coming for a specific well-paid job. Even the condos are pretty out of reach at most income levels. And I have nothing against renting, but that is pretty expensive here too.

Not that it's a whole lot better in other parts of Ontario, though.
 
evandyk said:
Not that it's a whole lot better in other parts of Ontario, though.
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Oh IDK about that. Here’s all the houses with 3+ bedrooms and 2+ bathrooms in Thunder Bay, Ontario under $350,000. Some of these look really nice. And here’s all the jobs in Thunder Bay paying $90k or more. Many look attractive to me. If you’re starting out in your career within a couple of years you’re making $90k and can afford a house. If it’s my kids I could fly from Billy Bishop to visit them throughout the year. Total airfare incl. tax Toronto-Thunder Bay return on Porter is $320. So, what’s the upside of Toronto?
 
My dad grew up in Thunder Bay, so I'm not particularly against living there, but it's pretty remote.
 
evandyk said:
My dad grew up in Thunder Bay, so I'm not particularly against living there, but it's pretty remote.
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True, it’s a different kind of life, but with direct passenger rail and air links to Toronto plus the TransCanada highway there are lots of options for whetting any appetite for urbanity.

Edit, am I wrong about VIA going to TB?
 
I always like Thunder Bay; it was 'the big city' when I lived in the northwest (it or Winnipeg). "Remote" is a state of mind and depends what you want out of life. It's remote from some things and close to others. The problem with Thunder Bay right now is some serious social problems and a high crime rate.

Yes you are. VIA (or perhaps CP pax rail - I can't remember) used to use the CP route around Superior. VIA now uses the CN northern route, which pretty much goes through very little. It's too bad - the portion of the line that hugs the lake, from Marathon westward, is quite scenic.
 
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lenaitch said:
The problem with Thunder Bay right now is some serious social problems and a high crime rate.
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Like every decent size city in Ontario. I travel a lot with my job across southern Ontario, it's scary how bad things are getting here.
 
gabe said:
Like every decent size city in Ontario. I travel a lot with my job across southern Ontario, it's scary how bad things are getting here.
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No doubt, and its not just cities. Thunder Bay is traditionally in the crime rate Top Ten (it's top of the charts in homicides), its relationship with its FN community is in tatters and it seems half the police service is under investigation or formally complaining about the other half.
 
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