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RE/MAX Balloon

David Schooley

September 18, 2020

Out-of-province downsizing, Paying capital gains tax on an investment property

There are small but significant differences in the way that real estate is practiced from one province to the next.
September 3, 2020

Is a “free market evaluation” the same as an appraisal?

Market evaluations are subjective. As such, they can be vastly different. If an evaluation sounds too good to be true, make sure the Realtor can back up their numbers.
August 28, 2020

Why sign a Buyer Representation Agreement?

Dear David, I want to buy a cottage. I’ve called about listings in a few different areas but am having a hard time getting local agents […]
August 21, 2020

Low rates & high prices, selling during divorce

In the last fifty years of sales data, there have been only a few months here and there in which average sale prices have declined, and they’ve always recovered quickly.
August 14, 2020

Open Houses during Stage-3 reopening

Many homeowners and Realtors, myself included, are not comfortable with the idea of scheduling open houses yet.
August 7, 2020

Still on lease after breakup, Selling a vacant duplex

I’m not sure what paperwork your daughter and her ex had to sign, but if it was a one-year lease two years ago, the term is up and she no longer has any obligation.
August 1, 2020

Financing turned down, Status for a POTL?

If you haven’t moved in the last few decades, you may be surprised by current financing procedures.
July 24, 2020

Selling a house in poor condition

Take a deep breath before you succumb to sticker shock. Repairs may seem expensive, but it’s important to put them into perspective.
July 18, 2020

Deal fell apart because of UFFI, can we sue?

In my last 16 years of real estate practice, I’ve never had a house with UFFI whose test readings weren’t close to nil. Despite a lack of evidence to support the notion that UFFI is problematic, there remains a pre-printed section of the Agreement of Purchase and Sale that speaks specifically to whether or not a house has UFFI.
July 10, 2020

What’s an escape clause? Final walk-through denied

We have an offer on our home that’s conditional upon financing for 10 days. Can we accept another offer in the meantime?
July 3, 2020

Can I bail on a deal? Fixtures vs. chattels

I bought a house with my longtime girlfriend. It’s supposed to close in six weeks. We just broke up, can we get out of this deal?
June 26, 2020

Winning at Multiple Offers

Dear David, We are first time buyers. We’ve been shopping for a while, and have made offers on three homes so far. We’ve been approved for […]
June 19, 2020

Buying with no financing condition, Moving in with adult kids

There are ways for buyers to hedge their bets and give themselves the best shot at receiving full approval once they find a home, even though the bank has the final word.
June 13, 2020

A Cautionary Tale

Social media strips away the level of protection that a Realtor offers. It's a tool -- not a negotiating strategy.
June 5, 2020
hand holding a paintbrush, painting finish on a wooden plank.

Trusting seller’s inspection, Pandemic moving plans

Inspection reports have inherent limitations. Inspectors can’t see through walls and must rely on exterior clues to reach their conclusions.
May 27, 2020

How is Waterloo Region real estate holding up in the pandemic?

In Waterloo Region, those with imminent housing needs may find that a “socially distanced” marketplace can be a good thing.
May 22, 2020

Discount for a dated kitchen?

Don’t be surprised when a seller bristles at the thought of subsidizing your dream kitchen.
May 15, 2020

Is our real estate bubble bursting?

Of the homes being sold right now, a larger proportion are in the affordable ranges, primarily because of who is moving.
May 7, 2020

Did my kids overpay for their house?

If you’re not currently active in the real estate market and keeping up with prices on a day-to-day basis, it’s understandable that the cost of the house may seem inflated compared to what you paid for your own.
April 29, 2020

Can a buyer bail because of COVID-19?

As an essential service, the real estate industry has responded quickly to address concerns brought on by the COVID-19 crisis.
April 27, 2020

Should I list during lockdown?

Dear David, We’ve heard that real estate is an essential service. If we planned on moving this year, should we get our house on the market […]
April 17, 2020

COVID-19 delays, Radon

Dear David, We’re building a new house. It’s supposed to close at the beginning of September. How do you think COVID-19 will affect our closing date? […]
April 10, 2020

Closing in a pandemic, moving to a smaller town

Dear David, I bought a house just before the outbreak and need to close in two months. Now what? – MID-MOVE DEAR MID-MOVE: Our industry is […]
April 3, 2020

Buying with a friend, Mortgage is paid off

Dear David, My friend and I want to buy a house together 50/50. I have a larger part of the down payment, but his income is […]
March 27, 2020

Historic designation, retirement affordability

Dear David, I’ve fallen in love with a century home in Kitchener. I don’t think it has an historic designation, but how do I find out […]
March 18, 2020

Retiring with parents, Fixing furnace before closing

Dear David, We’re building a retirement bungalow in our hometown. It’s 1600 square feet with a finished basement, so we’ll have lots of room. I want […]
March 13, 2020

Land lease vs. Life lease, Offer two deposits?

Dear David, What’s the difference between a “land lease” and a “life lease”? – LEASED OF MY WORRIES DEAR LEASED: In a typical freehold home purchase, […]
March 6, 2020

Stuck beside a run down semi, Secondary suites

Dear David, We own a semi in a modest neighbourhood. My husband wants to jazz it up with a concrete drive, new kitchen, new bathroom and […]
February 28, 2020

Parents co-sign mortgage, Replacing old carpet

Dear David, We are five years from retirement and our house is paid for. Our son just asked us to co-sign a loan so he can […]
February 21, 2020

Help for First time Buyers, Selling a rural property

Dear David, We’re ready to start looking for our first home. We want to purchase in next 3 to 6 months. We have a 5 percent […]