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March 18th, 2019 
Lawrence Day
Sales Representative
ask the experts: current issue
QUESTION: What can you tell me about co-ops and co-ownerships as opposed to buying a condominium?

ANSWER:   If you have 25-30% as a down payment, I highly recommend considering co-ops and co-ownerships, both as an excellent investment and as a great choice of lifestyle. No longer Toronto’s best kept secret, the price of some co-ops and co-ownerships have risen 50% in the past 18 months, but in my opionion, they remain Toronto’s best value. Generally, co-ops and co-ownerships are about 30 – 40% cheaper per square foot than condos in similar locations, and have more generous room sizes than new condominiums. In addition, many co-ops and co-ownerships have period details which add warmth,character and charm to the apartments, as well as to the buildings which house them. Moreover, my Top Fifteen List of the Best Co-ops and Co-ownerships are in excellent neighbourhoods such as North Toronto, Rosedale, and Forest Hill. Unfortunately, these types of homes are in high demand and are seldom available in the marketplace. If you want to know more about co-ops and co-ownerships, please contact me for a consultation, or I can send you more information about co-ops and co-ownerships …
QUESTION: When is a good time to act on my intention to move up?

ANSWER:   Now! Following six consecutive record - breaking months , The Toronto Real Estate Board reported that Central core sales and prices have remained stable from the end of last year. I predict that current extremely favourable market conditions for first and second time buyers (fueled by low mortgage rates, stable prices, and pent-up demand, and an improving economic and political environment), will create new sales records during a strong Spring market. Traditionally, in a rising market, higher priced properties increase by a greater margin than lower priced properties, so, for those contemplating a move ‘up,’ the timing should be excellent. For a complementary market evaluation of your property, contact me for a consultation.
QUESTION: What is a Purchaser Agency Agreement? Why does the agent want me to sign it?

ANSWER:   The PAA is an agreement stipulating a period of time during which clients engage a specific Realtor firm to work exclusively on their behalf in finding a property. The agreement creates a win-win situation for both the purchaser and real estate agent. It is essentially a good faith agreement which helps build a foundation of trust and a healthy relationship which benefits both purchaser and agent; the purchaser knows he or she has an experienced professional committed to working solely to fulfill his or her needs, while the agent dedicates himself to producing results, knowing his efforts will eventually be rewarded. For further information, please contact me for a consultation. I will be happy to tell you about my Win-Win, Satisfaction Guaranteed, PAA.
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