Down Payment Assistance for Renters

Are you currenlty renting, and do not have the downpayment to buy a new home?  The City of Windsor has received funds from the federal and provincial government to assist  people with their downpayment requirements.  Provided you qualify, this means you may not have to wait to save for that down payment. The program started on April 1, 2013 and their were 30-40 spots avaialble.  As of April 19,2013 there were only 25 spots remaining.  This is a great program, that people should try to take advantage of if your renting and thinking of buying.  Their are several criteria that need to met to qualify, but it doesnt hurt to read further and submit an application if you feel you qualify. Historically this program sells out quickly. Enclosed is a link to the Investment in Affordable Housing Info provided from the City of Windsor, whihc describes the program in more detail. http://www.hollyvella.com/wp-content/uploads/2013/04/2013-Homeownership-Downpayment-Assistance-Program-Q-A.pdf  ...

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First-Time Home Buyers’ Tax Credit (HBTC)

  Source From Canada Revenue Agency http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html 1. What is the home buyers’ tax credit (HBTC)? For 2009 and subsequent years, the HBTC is a new non-refundable tax credit, based on an amount of $5,000, for certain home buyers that acquire a qualifying home after January 27, 2009 (i.e., generally means that the closing is after this date). 2. How is the new HBTC calculated? The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the credit will be $750. 3. Am I eligible for the HBTC? You will qualify for the HBTC if: you or your spouse or common-law partner acquired a qualifying home; and you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years. If you are a person with a disability or are buying a house for a related person with a disability, you do not have to be a first-time home buyer. However, the home must be acquired to enable the person with the disability to live in a more accessible dwelling or in an environment better suited to the personal needs and care of that person. 4. What is a qualifying home? A qualifying home is a housing unit located in Canada acquired after January 27, 2009. This includes existing homes and those being constructed. Single-family homes, semi‑detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify. A share in a co‑operative housing corporation that entitles you to possess, and gives you an equity interest in, a housing unit located in Canada also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify. Also, you must intend to occupy the home or you must intend that the related person with a disability occupy the home as a principal place of residence no later than one year after it is acquired. 5. Who is considered a person with a disability for purposes of the HBTC? For the purposes of the HBTC, a person with a disability is an individual who is eligible to claim a disability amount for the year in which the home is acquired, or would be eligible to claim a disability amount, if we ignore that costs for attendant care or care in a nursing home were claimed for the Medical Expense Tax Credit. 6. If I buy a house, can my spouse or common-law partner claim the HBTC? Either one of you can claim the credit or you can share the credit....

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Frequently Asked Buyer Questions

Buyers Frequently Asked Questions: As a buyer, you have to make sure to know how the market works before you step in, or you risk missing out on the property of your dreams when you find it. Here are the core questions most buyers have. Feel free to send me one of your own. If I’m interested in a property, how can I determine if the list price is fair? How do I know what price to offer for a property? Do I need to have a home inspection done on every home I’m interested in? What happens to my deposit while I await closing? How do I go about finding open houses? Can I get a lockbox key from you and just visit a house myself? What is your referral policy? Should I buy first or sell first? Can you tell me more about bidding wars? Should I buy new or re-sale When should I make my offer conditional Do you know any mortgage brokers or financing specialists How long should a closing take – how soon before I can move in I saw a great house on MLS.ca but when I drove by, it was already sold If I just want to get in to see some houses, why do I need a Buyer Representative Is a Buyer Representative’s service free to me Do I need a real estate lawyer if the offer documents are pretty standard How much do I have to put down on a property when making an offer What are homes selling for on a certain street Offers are being accepted by fax on a property I’m interested in. What does that mean, and how does that affect my chances of getting my dream home What happens if I buy a house and the sellers don’t deliver on their promises Do I get a better deal if I buy a house being sold by the bank What’s a CVA? What is an SPIS? If I’m interested in a property, how can I determine if the list price is fair? I will look at the property’s sales history and comparable recent sales to help assess true market value. How do I know what price to offer for a property?Based on comparable recent sales and my extensive experience, as well as any other relevant factors such as competing offers, I will recommend an offer price that will protect your best interests and give you your best chance to get your dream property. Do I need to have a home inspection done on every home I’m interested in?In some cases, the sellers might already have commissioned a recent home inspection by a reputable home inspector to...

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Willistead

Willistead Manor was built in 1906 for Edward Chandler Walker, the second son of Hiram Walker, founder of the world-renowned distillery. Willistead is the creation of Albert Kahn, a noted Detroit architect of the day. Kahn built three buildings on the 15-acre estate: the manor house, the coach house and the gatehouse. Designed in the 16th century Tudor-Jacobean style of an English Manor House, the main building was begun in 1904. No expense was spared in the materials or labour used. The exterior of gray limestone, quarried in Amherstburg, was hand cut at the Willistead work site by Scottish stonemasons specifically imported for the...

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City of Windsor Community Improvement Plan

I recently attended a WECAR Commercial Forum and several interesting recent City development incentive programs were described. I have enclosed the presentations for your information.  The two main items were: 1.       The entire City of Windsor is now designated as a Community Improvement Plan, so all properties being developed in the City may benefit from future property tax rebates  if they are being developed for the Target Sectors (industries). 2.       Brownfield Sites have a number of incentives being offered for redevelopment, including environmental assessment, tax rebates, and development charge rebates I beleive the City of Windsor is one of the first City’s in Canada to do a City wide Community Improvement Plan. City of Windsor Community Improvemtne Plan CIP Presention Target Sector: Eligible Use Definitions Compliments of...

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Kitec Plumbing and the Windsor Home

http://www.kitecsettlement.com/kitecphotos.cfm http://www.kitecsettlement.com/index.cfm http://www.kitecsettlement.com/completingform.cfm Source: The Windsor Star – June 29, 2011 A family rocked by a $13,000 plumbing bill is warning people to beware of potentially faulty plumbing lurking behind the walls of homes built or renovated in the last two decades. Frank and Annette Cappellino built their dream home in LaSalle, near Windsor, Ont., about 10 years ago. Last fall, the Cappellinos came home to a flood in their basement. “Water was just spewing out like a waterfall,” said Frank Cappellino. “A pipe had totally burst.” Cappellino said after a home inspection by a plumbing distributor and a representative of the Canadian manufacturer IPEX, the rep told him the cause of the leak was defective pipes branded under the name Kitec — pipes that were running throughout the house. “He said he had to take a part of it back to his company to get it tested but indicated that if it was his pipe, basically he would have it replaced,” Cappellino said. The Cappellinos contacted the company to find out the testing results, but said they were told they couldn’t have a copy of the report because a class action lawsuit was underway. IPEX provided the Cappellinos with the name of the Windsor law firm leading the suit. Cappellino said they joined the legal fight shortly thereafter. On Tuesday, lawyers for IPEX Inc. and IPEX USA LLC announced they had reached an agreement in the lawsuit, and that a $125-million US settlement fund has been proposed. Product used extensively Another family, whose home was built the same year as the Cappellinos, also ended up replacing all the pipes in their home at their own expense, after finding issues with their Kitec pipes, manufactured by IPEX. Plumbers in the region have been getting more and more calls about the Kitec brand of pipe, also known as PEX. According to Kyle Fowler, co-owner of Fowler Plumbing in Windsor, if you built or remodelled your home in the last decade or so, it’s likely Kitec pipes were used. He said he gets at least one call a week that turns out to be Kitec-related, and he said the plumbing system was used in most of the newer subdivisions. “I even have some in my house,” Fowler said. “Because we didn’t know. We thought it was good.” Cappellino shows the Kitec hot water pipe that burst last fall. Karen Brady/CBCThe Kitec plumbing system consists of blue and orange flexible piping and brass fittings, used to carry cold and hot water through a home. Kitec products were also used in radiant heating systems. The pipes were made from polyethylene and a thin inner layer of aluminum, and plumbers considered them to be...

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What to Do if You dont Agree with your Property Asssessment in Windsor Real Estate

http://www.mpac.ca/pages_english/pdf/request_for_reconsideration.pdf If you don’t agree withyour Assessment Please review your Notice carefully to make sure the information is correct. If a factual error has been made, we will correct it. 1. Ask MPAC to Review your Assessment through a Request for Reconsideration (RfR) If you feel your assessed value as of the legislated valuation date or property classification is not correct, we will review it free of charge. The deadline to file your RfR is April 2, 2012. There are two ways to file a RfR: • The preferred method is to submit a RfR form. Forms are available at www.mpac.ca, or call us at 1 866 296-MPAC (6722). You may also choose to file your RfR electronically through AboutMyProperty™ on MPAC’s website. You will be able to attach documents, pictures and reports to accompany your RfR. Your personalized User ID and Password for AboutMyProperty™ are included on your Notice. • Write a letter requesting a reconsideration. In your letter, please include the 19-digit roll number on your Notice; your full name, address and phone number; and the reasons why you feel your assessment is not correct, including any information you have to support your claim. 2. File an Appeal with the Assessment Review Board (ARB) You may also choose to file an Appeal with the ARB, an independent tribunal of Ontario’s Ministry of the Attorney General. Residential, Farm and Managed Forest Properties If your property, or a portion of it, is classified as residential, farm or managed forests, you must first file a RfR with MPAC before you are eligible to file an Appeal with the ARB. The classification of your property is indicated on your Notice. If you are required to, or choose to file a RfR first, you have 90 days after MPAC has notified you of its decision on your RfR to file an Appeal with the ARB. The ARB has its own Appeal process. For more information, please contact the ARB at 1 866 448-2248 or 416 212-6349 or visit their website at www.arb.gov.on.ca. To request that your property be eligible for the farm or managed forests classes or conservation land exemption, you must file a RfR with the respective program administrator. For more information, please contact MPAC or visit www.mpac.ca. Other Property Types For any other property types, you can choose to file a RfR with MPAC or file an Appeal with the ARB. The deadline to file your RfR and/or Appeal is April 2, 2012. MPAC’s Role at an ARB Hearing At an ARB hearing, the onus is on MPAC to prove the accuracy of our assessed value. MPAC will present comparable properties as evidence and will share that information with you...

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Mold and Water Damage in Homes – Windsor Essex Real Estate

Homebuyers often have concerns about mould, but are their fears justified? Although thousands of types of mould exist, only a few are actually harmful to people. Toxic varieties, such as moulds from the genus Stachybotrys, can produce chemicals linked to various health problems including sinus infections, asthma and certain respiratory infections. However, mould must generally be present in large quantities to have a noticeable effect on most people. Mould eats wood cellulose and can potentially affect the structural integrity of wood. Some insurance companies have excluded mould damage from both first party and third party coverage. Property owners may be able to obtain costly site-specific environmental insurance that specifically includes mould coverage. Mould is caused by water damage or excessive humidity, poor ventilation systems, wet construction materials or poor construction or design. Mould travels on air currents and is all around us, and so it is difficult to find a house that is completely mould-free. The smell should be the first red flag. Just because a house is nicely renovated and freshly painted doesn’t make it mold free, if there’s a musty, mouldy smell, and lots of plug-ins and potpourri, you should investigate further. The best advse is use common sense. During a home inspection, the inspector cannot open walls. Therefore, you may need to rely on your sense of smell. If moisture damage has built up in the basement over the years, the smell will reveal it right away, regardless of how nice it looks If there’s mould in their home, it can be a minor issue involving lack of circulation in the basement, or it could be a serious case of black mould coming through the drywall or baseboard, which probably needs to be ripped out. You can’t just wipe it off.  Either way, the issue causing the mould must be solved and the area has to dry out. Whether inspecting a home you should always look for signs of water damage. You should hire a home inspector or other mold professional  if there is a concern Be sure to inspect moisture-prone areas such as basements, bathrooms and kitchen cupboards. Mould behind a wall will not be visible to you, but signs of mould include: discolouration on finishes staining spotty patterns revealing visible mould growth (which may indicate a larger, unseen problem) musty smells. Mould issues can usually be resolved. The moisture or water source needs to be located and stopped, and then the mould needs to be removed. If the problem turns out to be widespread and remediation is necessary, it’s important to ensure that the entire problem area is remediated, otherwise the mould infestation could return. A proper home inspection may uncover indications of mould...

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