Questions we get asked

To become our client, yes. Under the Trust in Real Estate Services Act, 2002 (TRESA), a brokerage acts for you as a client only under a written representation agreement. You can also deal with us as a self-represented party, without an agreement, but then we can't give you advice or advocate for you. Before we provide any service, we give you RECO's Information Guide and explain your options.

A client has signed a representation agreement, and the brokerage owes them duties such as advice, confidentiality and acting in their best interests. A self-represented party has not; the brokerage can give them factual information but not advice, and anything they say may be shared with the brokerage's client.

Yes. Commission is not set by law; it is agreed between you and the brokerage and written into your representation agreement.

Federal anti-money-laundering rules (FINTRAC) require every real estate brokerage to verify the identity of the people in a transaction and keep a record of it.

Search the Real Estate Council of Ontario's public register at registrantsearch.reco.on.ca. It shows each registrant's status, brokerage and any discipline history.

Not yet. Frank is a real estate student and is not registered with RECO, so he can't trade in real estate or give real estate advice. For anything about buying, selling or leasing, contact Robin Kirstein, our Broker of Record.

Text 416-828-7000. You'll hear back from the broker.

At least 5% of the first $500,000 of the price, plus 10% of any part between $500,000 and $1.5 million. Homes priced at $1.5 million or more need at least 20% down.

If you put down less than 20%, your mortgage must be insured (by CMHC or a private insurer). The premium, from 0.60% to 4.00% of the loan depending on your down payment, is usually added to the mortgage. Ontario sales tax on the premium is paid at closing.

Lenders check that you could still afford your payments at a higher rate: the greater of your contract rate plus 2% or 5.25%. Our affordability calculator uses the same test.

With 20% or more down, yes, if your lender offers it. With less than 20% down, a 30-year insured mortgage is available to first-time buyers and to buyers of newly built homes.

Buying in the City of Toronto means two taxes: Ontario's land transfer tax and Toronto's municipal land transfer tax. On a $1,000,000 home each is $16,475, so $32,950 in total before any first-time buyer rebate. Our land transfer tax calculator works out any price.

Yes. Ontario refunds up to $4,000 and Toronto rebates up to $4,475. You must be at least 18, a Canadian citizen or permanent resident, never have owned a home anywhere (and neither has your spouse while married to you), and move in within 9 months.

A package from the condominium corporation describing the building's finances, reserve fund, fees and any legal issues. The corporation must deliver it within 10 days of the request and fee, and the fee is capped at $100. Buyers usually make their offer conditional on reviewing it.

Your deposit is held in the brokerage's real estate trust account, not by the seller. The brokerage must deposit it into trust within 5 business days of receiving it, and it is credited to you on closing.

Your deed or transfer, a survey if you have one, your latest property tax and utility bills, a mortgage statement showing the payout amount, permits and renovation records, and warranties. For a condo, the buyer will usually ask for a status certificate. We give every seller a private checklist to work through.

Only with your written consent. Any advertising that identifies your property needs it.

Only with the written consent of both the buyer and the seller. Without it, no one can publish the sale price or other terms of the agreement.

That is multiple representation. It can only happen if every client consents in writing after it has been explained to them.