r/TorontoRealEstate

From the story:

• Ontario’s financial regulator increased enforcement actions to 100 in the 2024-2025 fiscal year, up from 65 the previous year.
• The mortgage sector accounted for 21 of 32 total investigations undertaken by the Financial Services Regulator Authority of Ontario.
• The regulator applied $1.2 million in monetary penalties after maximum fines rose to $100,000 for individuals.
• There were 25 orders to revoke and refuse licences in the mortgage and insurance sectors.

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Please don’t hate me redditors I’m just trying to be unbiased, can’t only post doomsday articles. Even though it’s a small uptick still a good sign.

As a FTHB, should I focus more on pre-construction or resale houses when it comes to cheaper prices, considering the rebates now?

I’m a first-time homebuyer and ran into a clause in an Agreement of Purchase and Sale that I hadn’t seen before.

My offer included two standard conditions: financing and home inspection for 5 business days. The seller accepted the price but added the following clause:

"Provided further that the Seller may continue to offer the property for sale and, in the event the Seller receives another Offer satisfactory to the Seller, the Seller may so notify the Buyer in writing by delivery to the Buyer personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto. The Buyer shall have 48 hours from the giving of such notice to waive or remove this condition by notice in writing delivered to the Seller personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto, failing which this Offer shall be null and void, and the Buyer’s deposit shall be returned in full without deduction."

From what I’ve read, this looks like a 48-hour escape clause allowing the seller to continue marketing the property while my offer is conditional.

I’m trying to understand a few things from people who’ve actually dealt with this:

1. Is this clause common when sellers accept conditional offers?
2. In practice, is it understood that this clause only applies during the conditional period (until the buyer waives conditions), or could it theoretically be used later in the transaction?
3. From a seller’s perspective, why add this clause if the house has already been on the market for 40+ days? What happens, when Seller recieved a better offer than mine?

Would appreciate hearing from anyone who has accepted or added a clause like this and how it played out.

P.S Used AI to formulate my thoughts.

In short YOY:

Sales volume flat (slight uptick of 1.7%).

New listings down 16.7%.

Active listings down 8%.

Average price down 6.7%, biggest drop in 416 condos, smallest drop in 416TH, but a drop everywhere.

mw2603.pdf

I have a condo townhouse in Oakville which seems to have some issues every once in a while (equipment is old). I will be travelling for work extremely frequently and may be moving out of province later in the year, was looking into property managers companies to manage new tenants. I only see positive reviews online and would love real peoples opinions.

Currently looking at Buttonwood as they seemed to be the most legit, open to any others that people have used and have had positive experiences with.

I likely won’t be able to actively manage this property and can’t sell due to the market situation, this seems like an OK solution for the next year or two as I believe this is also tax deductible for a rental.

Any advice / real world recommendations would be GREATLY appreciated, thanks all 🙏

I’m looking for recent reviews and feedback on 370 Dixon Condos in Etobicoke, specifically.

While searching online, I’ve come across quite a few negative reviews, with many people advising against moving there. However, most of these seem to be from 2020–2021.

I’d really appreciate any updated insights. Have conditions improved over the past few years? How is the overall safety and living environment now, especially for families with young children?

First-hand experiences from current or recent residents would be especially helpful. Thank you in advance!

Hi,

I’m looking at the King Terrace Condos by Zancor and I’m wondering if anyone had any experience with the purchase process at this project or if anyone who lives here can share any feedback (good or bad) with this condo? Would appreciate any advice at all.

Thank you

I have a project for my sons house and need someone with a knack for this kind of work.

I have a design for a fourplex in Halifax that is 9,000 SF total living area. I'm considering converting one of the units into two units. So, building a 9,000 SF fiveplex.

My understanding is this would no longer be a part 9 residential building but a part 3 commercial building so would need a sprinkler system, increased fire separation, etc. Does anyone have a rough construction number as to what the additional cost would be for moving from a fourplex to a fiveplex?

Hey everyone, looking for some advice/experiences from those who have bought pre-con detached homes recently, specifically with volume builders like Mattamy.

Because freehold detached homes don't have the statutory 10-day cooling-off period that condos do, there is no conditional period for a lawyer review. You basically have to sign their standard Agreement of Purchase and Sale (APS) unconditionally on the spot, making it legally binding the second you sign it, or they just sell the lot to the next person in line.

My lawyer strongly advised against signing a binding contract without a review, specifically warning about the risk of deposit forfeiture and hidden clauses. However, the reality of the market right now, is that if you don't sign standard APS, you don't get the house considering high demand in precon after the rebate announcement.

For those who have signed an unconditional/firm APS with Mattamy or similar volume builders:

1. Closing shortfall: We have mortgage pre-approval for the exact base/net price. However, since the contract is unconditional, how do we handle the risk of a cash shortfall at closing?
2. Did you get hit with any insane hidden development charges or fees on the final Statement of Adjustments?
3. With the new $130k HST rebate for all buyers, Mattamy has added a "net pricing" disclaimer that shifts the legislative risk onto the buyer. Has anyone navigated this specifically, and what should I look out for?
4. Do they allow for any negotiations prior to signing APS on freehold? I can have my lawyer review but what if the terms/clauses are non-negotiable?

Just trying to figure out if we are taking a massive blind risk, or if this is just the standard playbook everyone has to swallow to get a detached home right now. Thanks!

Is there anything in specific to look for? I understand after i sign and builder does too, i get 10 days and the lawyer will review the agreement and highlight any discrepancies. However is there anything to look out for before i sign?

Hello all! I wanted to seek some clarification for the proposed 13% HST rebate for new homes for a first time home buyer. i am a first time home buyer and I signed the APS in February 1, 2026. From my knowledge, I believe that the 13% rebate can be claimed retroactively for any FTHB so that it aligns with the GST rebate which can be claimed for FTHB on new homes purchased after May 2025. I was wondering if anybody is able to confirm this.

If i sell my condo at 200k loss, i might be able to scrape together a total of 200k from my remaining life saings/worth, although i really do not want to sell my stocks, does it make sense to sell off 120k -140k to buy again, with todays prices i can get a bigger condo or keep my payments lower? Or do i just go rent something regular for 2400 (1b - 1b den with parking in Toronto) my current housing cost is 3k.