Is Redfin available in Canada?

Redfin is an online brokerage platform that aims to make the buying and selling process more efficient. Redfin offers sellers the option to list their properties for as little as 1% commission, and buyers have access to agents who can help them find the newest listings, tour properties, and submit offers.

Redfin is actually a US-based online residential real estate brokerage company that operates in some American cities. However, a lot of people are curious about its accessibility in Canada. Let's find out if it is available in Canada or not.

Is Redfin available in Canada?

Yes, Redfin is available in Canada. In 2019, the company launched a national Canadian real estate search site, began offering full-service agents to homebuyers and sellers in the greater Toronto area at a one percent listing fee, and gradually expaning to cover Canada's major cities.

Customers can browse every home for sale listed online by agents in most Canadian provinces using the company's website and mobile application. Additionally, Redfin's Book feature allows homebuyers to schedule a home showing with an agent with just a few taps on a smartphone.

Where does Redfin find listings?

Redfin gets its listings from the Multiple Listing Service (MLS), an online real estate database that is frequently updated by real estate agents to guarantee the highest level of accuracy. This data is also used to compare listings in your preferred neighborhood and locate the most precise pricing predictions.

Is the Redfin Estimate available in Canada?

No, the Redfin estimate is not yet accessible in Canada, but this feature is anticipated to arrive there soon. However, many other features, including Redfin Hot Homes and Search by School, will also be accessible soon. Redfin buyers can use these features to learn when to act quickly by learning whether a home is likely to sell in two weeks or less based on the proprietary algorithm. They can also search all homes for sale served by a specific school.

Redfin is available in Canada

Redfin offers brokerage, rental, lending, title insurance, and renovation services to assist people in finding housing in Canada. The company keeps launching new features to provide more comfort to its customers. It has recently introduced a new feature that shows zoning details on home detail pages. As of now, more than 70 million homes' zoning information is available on its platform, making it the first real estate website to do so.

Last Updated:

2023-01-04

Real Estate Canada

canada real estate

redfin

real estate

zillow canada

real estate website

Is Zillow available in Canada?

Zillow is one of the most popular real estate databases in America. It connects users with real estate agents, displays publicly available for-sale and rental listings, as well as information on homes that aren't currently on the market. The platform is committed to providing information, inspiration, and knowledge to consumers about the area they call home as well as connecting them with the most qualified local agents who can assist them. However, a lot of people are curious about whether Zillow is accessible in Canada as well or not. We will therefore find out today whether Zillow is available in Canada. ## Is Zillow available in Canada? Yes, Zillow is available in Canada. In fact Canada became the first country outside of the United States to have its real estate listings on Zillow in 2018, when the company began listing Canadian properties there. It gives users access to a database of houses that are up for sale and rent, as well as information on REALTORS and real estate reviews, and it also allows owners, listing agents, and landlords to use it for free. Zillow helps potential buyers to connect directly with the listing agent of a property. It is benificial for both buyers and sellers as it provides a more user-friendly home search experience and presents listings using photos, a thorough description, prices, and neighborhood information. The data available on Zillow is reliable because it obtains its listing data directly from the MLS, which enables the website to automatically update with regard to new listings, price changes, and sales. ## Is Zillow a real estate broker? It is important to understand that Zillow is a media company that sells advertising rather than real estate. It is not a real estate broker because it does not represent either buyers or sellers, nor does it hire real estate agents. ## Zillow available in Canada Zillow offers free listings of houses for sale, profiles of real estate agents, and customer reviews. Even though Zillow is free, some of the largest brokerages in Ontario have chosen to keep their listings off of the site because doing so would require the seller's brokerage to sign a data sharing agreement, which they avoid doing.

Is Zestimate available in Canada?

Zestimate is a model for home valuation that gives customers an estimate of the base value of any property. It is an essential service offered by the popular online real estate marketplace Zillow. The feature is widely used by the people searching for real estate property. But now that Zillow is accessible in Canada, many people are curious about whether the Zestimate feature is offered there or not. So let's find out today if Zestimate is available in Canada or not. ## Is Zestimate available in Canada? No, Zestimate is not available in Canada due to the country's less open access to property information than the USA, which makes it very challenging to carry out automated home valuations. However, officials claim that in cases where the Zestimate is unavailable, soon a licensed Zillow employee will review comparable listings as soon as a listing is active and provide a Zestimate Market Analysis. To ascertain a home's potential market value, these licensed workers will assess its specifics, such as its square footage and number of bedrooms, before comparing it to recently sold or comparable homes that are currently on the market. ## Zestimate not available in Canada Currently, Zestimate is not available in Canada. This is due to the fact that we have less access to sold data. Zestimate has also generated controversy because, despite not being an appraisal, many consumers use it as such, which may cause them to overestimate the value of their property. If consumers overprice their homes, these misconceptions may have real-world repercussions. However, Canada has the Zillow Home Value Index that captures both the level and home values across a wide range of geographies and housing types.

Which Real Estate app is best in Canada?

It may be lengthy and challenging to rent a house, purchase a property or sell a home in a country like Canada. There will be numerous things that can be done and relevant information that you must remember throughout the process. Real estate apps help renters, buyers, sellers, and homeowners seeking to rent a property, recently purchased a home, or even have ended up selling their property. ## Best Real Estate App in Canada Realtor.ca seems to be one of Canada's most trustworthy and finest real estate apps. The Canadian Real Estate Association (CREA) manages and controls it and offers up-to-date details on discovering properties. It is geared toward purchasers, sellers, and prospective tenants. Realtor.ca is an excellent place to begin if you're unfamiliar with the real estate market, regardless of where you live. This app offers the most extensive collection of households in Canada. Individuals can rapidly and effortlessly polish up on one of the must-have qualities thanks to its user-friendly interaction and personalized browse filtration. Viewers can bookmark their favourite listings, make a note, or even contact a real estate broker. ## Benefits of Using the Realtor.ca App There are some of the Benefits of Using the Realtor.ca App: ### 1. Updated Information: Using the realtor.ca app, we receive up-to-date details about housing, commercial, and rental homes in Canada. ### 2. Multiple Filters: You can use Realtor.ca to refine your search and also to include features that meet your criteria, such as cost, type of housing, area, amount of bedrooms and bathroom facilities, and many more. ### 3. Mortgage Calculator - It also has a payment calculator, mortgage availability calculator, and property transfer tax calculator from Realtor. ### 4. Discover A Real Estate Agent: Individuals can search for real estate representatives on Realtor.ca by destination, title, or office. Furthermore, you could even search the real estate agents by language, which includes English, French, Mandarin, Cantonese, Punjabi, and Hindi. One can consider using this app only for discovering, as the current version is among Canada's most popular real estate apps. We can now recognize core concepts, legislation, and real estate principles. You'll have security in knowing what and how to search for red flags and exactly how to pinpoint a trustworthy estate agent. You may also like to explore [Best Handyman Services Apps in Canada ](https://getnewhouse.ca/blog/best-handyman-services-apps-in-canada) ## Real Estate Apps in Canada - Popular List 1. Zolo Canada 2. Zillow 3. Real Estate Dictionary 4. Zoocasa 5. AroundMe Real estate apps make buying and selling homes much easier for house hunters in Canada. You will find a whole lot of Canadian real estate websites and applications. Which real estate app is your favourite?

Is Ajax in Ontario (Canada) a Good Place to Live?

Are you thinking of moving to Toronto suburbs? You might have you heard about Ajax, a popular town in Durham region in Ontario. Are you looking for a house, and wondering, **Is Ajax in Ontario, Canada a good and safe place to live?** Let's find out the answer while discussing the pros and cons of living in this area. Ajax (Southern Ontario) ----------------------- Located in the eastern part of the Greater Toronto Area(GTA), **Ajax** has become one of the most-sought for families and millennials. This is not surprising as this [**Toronto suburb area**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) has experienced the fastest growth over the years. It depicts a true reflection of rich cultural diversity, which makes it a melting pot of different cultures and cuisines. Another plus to it is that it has a lower crime rate than the Ontario average. This alone is enough to make it an appealing place for anyone escaping the hustle bustle of the city for a quieter life in the suburb area. Planning to move to Ajax? Here is a definitive guide containing the pros and cons of living in Ajax to help you make informed decisions. Advantages of Living in Ajax, Ontario ------------------------------------- Let's have a look at some of the advantages of living in Ajax, Ontario: ### 1\. Surround Yourself with Nature If you are looking for a place to get lost in nature, Ajax is the right one. Ajax boasts of picturesque lake with a wealth of green views. For ones, the Greenwood conservative area has beautiful scenery with a mix combo of grasslands, coniferous forests and a number of hiking trails. Whether you want to go hiking, fishing or skiing, this park is enough to get your weekend fun-filled. Moreover, you can decide to take a walk along the Paradise beach and enjoy a lazy afternoon with your family. ### 2\. So much to Enjoy Synonymous with great gaming, horse racing, electronic table games, Ajax is one-stop-shop for all things entertainment. Ajax has been known for its Quarter horse racing since 1969. It hosts Canada's high-ranking quarter race track annually and it's one of the biggest attractions Ajax takes pride in. Aside from that, there is an Ajax casino where you can spend the evening trying your luck and enjoying the whole electronic game. Need a beautiful kids day out? Children can have some adrenaline-pumping games at Endless fun. ### **3. Appreciate the Arts** Ajax is remarkable for its rich history and culture. You can get immersed in various shows at St Francis centre that houses different varieties of performances, artists throughout the year. Visit one of the gallery spaces to take in the unique, beautiful work of art. Explore the many memorials, and art pieces showcased at the council chambers lobby of town hall. Art enthusiasts have got a lot to enjoy. Also, don't miss to learn [**7 Reasons to Live in Stoney Creek, Ontario, Canada**](https://getnewhouse.ca/blog/reasons-to-live-in-stoney-creek-ontario-canada/) ### **4\. Great Neighbourhoods** Ajax is not just along the side of lake Ontario, there are other great neighbourhood options that have garnered homeowners attention over the years. Duffin Bay, Riverside, Discovery Bay are among the many well-established regions. They feature a wide variety of home styles and prices, amenities, shopping malls and restaurants and many other perks to make your stay a good one. ### **5\. A Safe and Secure Environment** According to areavibes.com, Ajax crime rates are 38 percent lower than the average and it's considered safer than 80 percent of other cities in Canada. This makes it safe and secure for families and individuals to live without fear of becoming victims of crimes. ### **6\. Affordable Real Estate** When compared to other GTA places, Ajax housing and real estate is affordable. With inflation at its peak, and [**high mortgage interest rates**](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) little wonder why many people keep flocking from the city to this suburb area. Many who are looking to have a place they can call a home are betting on Ajax because of its affordability. ### 7\. A Welcome Place for All People from all walks of life are welcome to make a home in Ajax. The residents make this a priority by organizing events and programs that promote cultural diversity and love. Not only is it a great way to have fun, it also brings people together and helps them connect on a deeper level. Disadvantages of Living in Ajax, Ontario ---------------------------------------- Few drawbacks of living in a sub-urban city like Ajax are: ### 1\. High Property Tax Not everything is greenery and roses in Ajax and it's sure has its own downsides. One of them is the high property tax which is one of the highest in Toronto. Because of the less population as compared to the metropolitan cities, this has make the town's tax rate to be on the increase. Although the properties are less expensive, the tax rate is one disadvantage to consider before moving in. ### 2\. High Traffic Congestion Ajax has been notorious for difficult commutes as many struggle with trafficblockage especially during the rushing hours. The Highway 401 contribute to Canada's worst traffic bottlenecks. It runs through the eastern and western towns. This means it's the only route many people from Pickering and other communities passed through to and fro Toronto. This is one important aspect policy makers should look into in order to reduce congestion. The intersection at the Westney south of Kingston is also worst especially during the morning rush. Residents have complained it has make them miss their GO train which isn't all fun. ### 3\. You sure need a Car No matter where you are in Ajax, you need a car for your daily conveniences. Whether you have to go shopping, visit plazas, dining out, groceries, you need a car to get you going. Besides, Ajax run on a rudimentary transit system and it isn't as robust as Toronto transit. If you plan to visit any city nearby, there aren't no transit system that runs frequently. It's also a hassle if you stay out late in downtown except you have a car. Hence, ensure you have access to a car in order to have a hassle-free stay in Ajax. Do remember to explore the [**Best 10 Cities to Live in Ontario, Canada**](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada). Living in Ajax, Ontario (Canada) -------------------------------- Overall, Ajax is a **good place to live** to live with a lot of benefits to avail of. While some love the diversity, arts and culture and praise the housing affordability. Others find the limited transit system a big deal and couldn't cope with the heavy traffic. It all stems down on your needs. Despite the downsides, Ajax still remain many favorites and it's better if you take the plunge and come find out everything it has to offer. Now, whether you are [**renting or buying a house in Ontario (Canada)**](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better/), the above details will be surely help you. A perfect guide to take an informed decision and ensure you have a successful stay in the town. _After knowing the pros and cons of living in this city, what do you think? Is Ajax, Ontario a good place to live? Do share your views and experiences thereon._

Top 10 Largest Real Estate Companies in Canada

Are you interested in learning more about the real estate topics? Here we will be highlighting the **Top 10 Largest Real Estate Companies in Canada**. Grab useful information on the best performers in the dynamic real estate world. Real Estate in Canada --------------------- Real estate has and will continue to be a great investment especially in an immigration friendly country like Canada. The exciting part about this business is that the risk is very low. To invest in real estate, you will need a credible, knowledgeable and skilled agent. There are several real estate agents in Canada but the fear of not falling into the wrong hands can be a hindrance. Canada has in store some of the **largest real estate companies**, and their real estate sector has contributed immensely to the economic growth in Canada. To be a good real estate agent requires you to have good knowledge of the business and also great skills. For these reasons, we have taken enough time to compile a list of the **top real estate companies** in Canada. Top 10 Real Estate Companies in Canada -------------------------------------- Take your time to read through this interesting list to have more knowledge about the top real estate companies in Canada. And yes, these are not in any sequential order. We just picked the most popular and the largest Canadian real estate companies. **1\. Onni Group** ------------------ This well-known real estate company has maintained being on the top list of best real estate companies for over five decades. They are greatly known for their unprecedented condo homes and commercial properties. Their development of residence so far is more than 15000 and they own various properties in different parts of North America, places like Vancouver, [**Ontario cities**](https://getnewhouse.ca/blog/category/ontario-cities/), etc. Onni offices are situated in various parts of Canada, Seattle, Toronto, British Columbia, Los Angeles, and other areas. Their goal is to develop top-notch urban towns in the world coupled with great sustainability and innovative designs. One thing that has made them stand out is their ability to develop principles on green architecture. Also, the materials and equipment used by this company are native and energy-saving respectively. Their great teams are also worth mentioning as they are well trained and skilled in this field. Some of their record-breaking projects are Gilmore Place, Cambie Gardens, Riva, Fortunate at Fort York, Atria west and lots more. 2\. Westcorp Property Management Inc ------------------------------------ This company has been around for over three decades which has made them more conversant with the needs and tastes of their clients. Their services include commercial, residential, retail, office and hospitality real estate. Westcorp Property Management Inc is well known in the commercial sector of real estate in Canada for its exceptional sales. Whitehall Square, Victoria Plaza, The Milner, Downtown Hotel, and Baywood Park are some of their projects in Canada. Over the years this company has been able to enhance its service which has made them become one of the best in Canadian real estate. 3\. Mattamy Homes --------------------- When referring to some of the privately-owned real estate development firms in Canada that make the most profit, Mattamy is one of them. Mattamy owns real estate assets in different parts of the country like the [**Greater Toronto Area**](https://getnewhouse.ca/blog/pre-construction-condo-vs-resale-investment-better-gta-canada/) and Calgary as well as certain parts of the United States of America. Some of Mattamy's projects include 360 condo and Vita on the lake. This business has been able to provide jobs to many and has also offered real estate services to different clients in various areas of Canada. One of their goals is to provide an eco-friendly home, and green building material and to motivate the use of smart technologies. 4\. Westbank Corp ----------------- The company headquarter is located in Vancouver and is one of the top real estate development companies in Canada which also have an international footprint. The company has luxury assets in both commercial and residential skyscrapers. Its reputation in the commercial real estate business, particularly in Calgary, is still being built. Westbank Corp dares to be different from other real estate companies with their exceptional artistry projects. That's one of the things that has grabbed the attention of many towards this real estate company. They are known to be the largest LEED Platinum developer in the world. Some of their projects are Shangri-La, Bank of Italy, Telus Garden and The Butterfly and 188 Keefer St. 5\. Pinnacle International -------------------------- It is one of the leading real estate companies in Canada known for developing luxury commercial, hotels and residential buildings. Over the years the company has been able to create thousands of residences and help to improve different areas in the country. With each of their projects, they have provided great design in terms of architecture and interior as well as deluxe amenities. This has helped them remain one of the best in the real estate market. 33 Bay, Pinnacle Grand Prix, The Prestige and The Sorrento are some of their projects. 6\. Tridel ---------- It is one of the largest and oldest real estate companies in Canada with its headquarter in Toronto. The company was founded by Jack DelZottto in 1934. This company has developed thousands of houses in Canada as well as wonderful communities. The Westerly, Queen & Church and Aqualuna are part of their projects. 7\. Canadian Brookfield ----------------------- This is a company that provides infrastructure solutions, private equity, management, credit and real estate investment which is globally recognized. So, it has landed in our list of top real estate companies in Canada. 8\. The Daniels Corporation --------------------------- This reputable real estate company has more dominance in Thornhill, Toronto, Mississauga and Brampton real estate markets. Their commitment to quality construction, innovative design and sustainability has been their hedge over others in the industry. Kilgour Estates, Artworks Tower and High Park Condos are some projects from them. 9\. Sorbara Group Of Companies ------------------------------ This is a real estate company that also provides property management, investment and construction. Their focus on growth has helped them to penetrate the real estate market. 210 Simcoe and 400 Wellington are some of their previous projects. 10\. Firstservice Corporation ----------------------------- For more than 20 years this real estate company has provided excellent experience and service to their clients. The satisfaction of their client has been their goal and concern which has helped with revenue generation and building reputation. You may also like to discover [10 Steps to Build a Successful Home Renovation Business in Canada ](https://getnewhouse.ca/blog/steps-to-build-successful-home-renovation-business-in-canada) Real Estate Companies in Canada ------------------------------- Whether you want to invest in real estate or planning to get your dream home in Canada, you will come across the company names added above. They have proven to be reputable companies with their various projects and contributions to the real estate market. May it be detached homes, semis, or other [**new constructions**](https://getnewhouse.ca/blog/things-to-know-before-buying-pre-construction-condo-in-gta-canada), these companies have made a strong hold in different Canadian provinces. This collection of **largest real estate companies** can help guide you through the real estate market in Canada. _**What do you think? Any other top real estate companies that we missed to include here? Do share with us.**_

20 Real Estate Terms in Canada - List for Canadian Home Buyers, Sellers & Agents

Are you ready to conquer the Canadian real estate market, but feeling a bit daunted by the abundance of jargon and complexities? Don't worry, you're not alone! The real estate industry can be a minefield to navigate, but with the right knowledge, you'll be able to understand the ins and outs of the market and make informed decisions. So, whether you're a first-time home buyer, a seasoned seller, or a budding real estate agent don't let the jargon hold you back- let's unlock the secrets of the Canadian real estate market with the ultimate 20 real estate terms that you need to navigate the minefield of the Canadian real estate market and come out victorious. ## 20 Real Estate Terms in Canada - A Comprehensive List Knowing real estate terms is key to being a pro in the Canadian market. It's not just for first-time buyers or sellers; it's also for sellers and real estate agents who work here but are unaware of these terms. Because understanding the lingo is what sets you up for success here. For this reason, we have words ranging in complexity from simple words to complex terms. ## **20 Basic Real Estate Terms & Concepts to Know** So buckle up and let's dive in deep into the real estate world. ### **1. Amortization**: The length of time it will take to pay off a mortgage, calculated by dividing the total mortgage amount by the annual mortgage payments. It is the period over which the loan is planned to be paid off, usually in a range of 15-30 years. ### **2. Appraisal**: An evaluation of a property's value by a professional appraiser. Appraisals help to determine the fair market value of a property, which is used to help set a fair price for the property. ### **3. Closing Costs**: The expenses associated with purchasing a property, such as legal fees, land transfer taxes, and home inspection fees. These costs can add up to thousands of dollars and are typically paid at the time of closing. ### **4. Conditional Offer**: An offer to purchase a property that is contingent upon certain conditions being met, such as the successful completion of a home inspection. It means that the offer is made on the condition that certain things happen, such as financing or home inspection. ### **5. Equity**: The difference between the market value of a property and the outstanding balance on the mortgage. It is the portion of the property that the owner fully owns, and it increases over time as the mortgage is paid down and the property increases in value. ### **6. Fixed-Rate Mortgage**: A mortgage with an [interest rate](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada) that stays the same for the entire term of the loan. It means that the interest rate will not change for the duration of the loan, providing predictability and stability for the borrower. ### **7. Home Inspection**: A comprehensive examination of a property's condition by a professional home inspector. Home inspection is an important step in the home buying process, as it can help identify any potential issues or defects with the property. ### **8. Interest Rate**: The percentage at which the lender charges interest on a mortgage. It is the cost of borrowing money, and it can have a significant impact on the overall cost of the mortgage. ### **9. Land Transfer Tax**: A tax paid by the purchaser when a property is transferred from one owner to another. It is a government tax that is paid on the transfer of property ownership and varies by province. ### **10. Listing Agreement**: A contract between a property owner and a real estate agent that outlines the terms of the agency relationship. It outlines the services that the agent will provide, the length of the agreement, and the commission that will be paid to the agent. Also, know the truth behind a [home listed for 1$ in the [Canadian Housing Market](https://getnewhouse.ca/blog/what-it-means-when-home-listed-for-one-dollar-in-canada). ### **11. Mortgage Broker**: A professional who acts as an intermediary between borrowers and lenders to help them find the best mortgage product. They can help borrowers find the best mortgage rate and product that suits their needs. ### **12. Mortgage Pre-Approval**: A conditional commitment from a lender to provide a mortgage for a certain amount, subject to the buyer meeting certain conditions. It is a letter from a lender that states that you are pre-approved for a mortgage up to a certain amount, subject to certain conditions. ### **13. Multiple Listing Service (MLS)**: [MLS or Multiple Listing Service](https://getnewhouse.ca/article/what-is-mls-in-real-estate-canada) is a database of properties for sale by real estate agents. It is a system used by real estate agents to list properties for sale, and it is a valuable resource for buyers and sellers. ### **14. Power of Sale**: A legal process that allows a lender to sell a property in order to recover unpaid mortgage debt if the borrower defaults on the mortgage. It is a provision in the mortgage agreement that gives the lender the right to sell the property in case of default. ### **15. Property Condition Disclosure Statement**: A document that outlines any known issues or defects with a property. It is a statement provided by the seller that discloses any known issues or defects with the property. ### **16. Real Property Report (RPR)**: A legal document that shows the boundaries, dimensions, and location of a property, as well as any improvements or structures on the property. It is a detailed survey that shows the property's boundaries and any structures or improvements on the property. ### **17. Title Insurance**: Insurance that protects the buyer and the lender against any issues with the property's title or ownership. It protects against any hidden issues with the property's title, such as outstanding liens or encumbrances. ### **18. Underwriting**: The process of evaluating a mortgage application to determine whether to approve the loan and what terms to offer. It is the process used by lenders to evaluate a borrower's creditworthiness and ability to repay the loan. ### **19. Zoning**: Set of regulations established by local governments that determine how land can be used in a particular area, by dividing the municipality into different zones and regulating the development, density and allowed uses of the land. ### **20. Lease**: A lease is a legal agreement between a landlord and tenant outlining the terms and conditions of renting a property, including the rental amount, length of the lease and responsibilities of both parties. ## **20 Advanced Real Estate Terms & Concepts to Know** Now, let's get an idea on some of the advance terms used in the real estate industry. ## **1. ‘As Is’ clause** Let's learn about this real estate concept from both a seller's and a buyer's point of view. #### **For sellers** "As-Is" clause means property is sold in current condition, with no promises or guarantees from the seller. - It can be a quick and cost-effective option for sellers. - But, it also means that the buyer will have to take on any necessary repairs or renovations. - Legally required to disclose all issues with the property, including providing a detailed statement of condition, prepared by a professional, and based on an inspection. #### **For buyers** "As-Is" properties may come at a lower price, but they can also end up costing more if extensive repairs are needed. - It's crucial to do a thorough inspection of the property to reveal any potential issues. - Consider including a "subject to inspection" clause in the contract, which allows the buyer to back out if the inspection reveals more problems than initially disclosed by the seller. - Important to proceed with caution and have a solid team of professionals, including a real estate agent, home inspector, and attorney, to minimize the risk. For more details, refer [What does As-is clause mean in real estate?](https://getnewhouse.ca/article/what-does-as-is-where-clause-mean-real-estate-canada) ### **2. POA (Power of Attorney)** POA is a legal document that allows you to give authority to another trustworthy person(s) to manage your property or money on your behalf. - The person you appoint is called your attorney, and they do not have to be a lawyer. - It is required that a person be ‘mentally capable’ at the time of signing a POA for it to be valid. - Laws, requirements, and definitions of POA vary across provinces and territories in Canada. - Real Estate and POA In real estate, your attorney can manage buying or selling of real estate in your name, pay bills on your behalf, and even collect money owed to you, unless restricted to do so. Your attorney does not become the owner of your property, they can only manage it on your behalf. ### Types of POA - **General Power of attorney**: Allows your attorney to manage all or part of your finances and property only while you are mentally capable of managing your own affairs. Becomes invalid if you become mentally incapable. Can be limited to a particular task or time period. - **Continuing power of attorney**: Allows your attorney to continue managing your finances and property even if you become mentally incapable to do so. Can start immediately or come into effect when you become mentally incapable. ### **3. MLS (Multiple Listing Service)** MLS (Multiple Listing Service) is a database of properties for sale or rent, maintained by real estate agents and brokers. - It allows agents to share information about properties with other agents in their area, increasing the chances of a sale or lease. - MLS data is only available to real estate agents and brokers who are members of the service. - It includes detailed information about properties, including photographs, prices, and descriptions. - MLS can be a powerful tool for buyers, sellers, and real estate professionals to find and market properties. ### **4. CCIM (Certified commercial investment member)** CCIM (Certified Commercial Investment Member) is a professional designation for commercial real estate professionals. - It is awarded by the CCIM Institute after completing education and demonstrating experience. - Recognized as mark of expertise in commercial and investment real estate. - Only held by a select group of professionals. - CCIMs are trained to analyze investment opportunities. ### **5. CPM (Certified Property Manager)** CPM (Certified Property Manager) is a professional designation for property management professionals. - It is awarded by the Institute of Real Estate Management (IREM) after individuals complete a rigorous education curriculum and demonstrate their experience in property management. - The CPM designation is recognized as a mark of expertise in the property management industry. - Only held by a select group of professionals. - CPMs are trained to manage and maintain properties effectively and efficiently. ### **6. CMA (Comparative Market Analysis)** CMA (Comparative Market Analysis) is a report that compares a property to similar properties in the same area. - It is used to determine a property's estimated value, and to help with pricing decisions when buying or selling a property. - A CMA includes information about recent sales and current listings of similar properties. - It also includes information about market trends, such as average days on market and sale-to-list price ratios. - CMA is a helpful tool for both sellers and buyers to have a better understanding of the market and make informed decisions. ### **7. CRE (Commercial Real Estate)** CRE (Commercial Real Estate) refers to properties used for business or investment purposes. - It includes properties such as office buildings, retail centers, industrial warehouses, and multifamily apartments. - CRE transactions are generally more complex and involve more money compared to residential real estate transactions. - CRE professionals such as brokers, investors, and property managers have specialized knowledge and skills to navigate the market. - CRE can also include special purpose properties such as hotels, hospitals, and self-storage facilities. ### **8. CAC (Central Air-Conditioning)** CAC (Central Air-Conditioning) is a type of air conditioning system that cools a building or home by circulating chilled air through ductwork. - It typically uses a central unit, such as a furnace, to cool the air and distribute it throughout the building. - CAC systems are often more efficient and can cool larger areas compared to individual room air conditioners. - It can also improve air quality by filtering and circulating air throughout the building. - CAC systems require regular maintenance to ensure they are functioning properly and efficiently. ### **9. COI (Certificate of Insurance)** A Certificate of Insurance (COI) is a document that verifies that a specific insurance policy is in effect and provides details on the coverage provided. - COIs are typically issued by insurance companies or their agents and are used to provide proof of insurance to third parties, such as lenders or landlords. - COI includes: insured name, policy number, coverage type/limits, and insurance company/agent contact information. - Some COIs may also include additional information, such as endorsements or exclusions to the policy. - COIs are not the same as the insurance policy itself and do not provide all of the terms, conditions, and exclusions of the policy. ### **10. CMHC (Canada Mortgage and Housing Corporation)** Canada Mortgage and Housing Corporation (CMHC) is a Crown corporation of the Government of Canada. - Its primary function is to provide mortgage loan insurance to Canadian banks and other lending institutions. - This insurance helps protect lenders against losses if a borrower defaults on a mortgage loan. - CMHC also conducts research and provides information on housing markets and trends, as well as housing-related programs and services. - CMHC is funded by premiums paid by borrowers who take out mortgage loans that are insured by the corporation. ### **11. CMA (Comparative Market Analysis)** A [Comparative Market Analysis (CMA)](https://getnewhouse.ca/article/what-is-cma-in-real-estate-canada) is a report that compares a property to similar properties that have recently sold or are currently on the market. - It is used by real estate agents, appraisers, and homeowners to estimate the fair market value of a property. - A CMA typically includes information such as the property's location, size, condition, and features as well as information on comparable properties, including their sale prices and other relevant details. - It is based on recent sales data, it helps in determining the current market value of a property - It is used to set the price for a property that is for sale or to be appraised. - A CMA can also be used to evaluate the potential return on investment for a rental property or a fix and flip investment. ### **12. ARV (After Repair Value)** After Repair Value (ARV) is a term used in real estate investing to refer to the estimated market value of a property after any necessary repairs or renovations have been completed - It is used to determine the potential profitability of a fix-and-flip investment or the maximum purchase price for a property being considered for a rental or rehab project. - ARV is calculated by taking the estimated market value of a property in its current condition, subtracting the cost of repairs and renovations, and then adding any potential value-adds such as an addition or a finished basement. - It is an estimate of the potential of the property in the future after the repairs are done - It helps in determining the maximum amount to be spent on the renovation and property purchase, so it doesn't exceed the potential value of the property after renovation. ### **13. LTV (Loan to Value)** Loan-to-value (LTV) is a ratio used in the mortgage industry to indicate the size of a loan compared to the value of the property being used as collateral. - It is calculated by dividing the loan amount by the value of the property. - It is used by lenders to determine the risk of a loan and the creditworthiness of a borrower. - A higher LTV ratio indicates a higher risk to the lender, as the borrower has less equity in the property. - LTV is used to determine the minimum down payment, interest rate, and maximum loan amount - Lenders usually have different LTV ratios for different types of properties and loans. - A high LTV ratio may require a higher interest rate or mortgage insurance. ### **14. Cap Rate** The Capitalization Rate, or Cap Rate, is a measure used in real estate investing to indicate the rate of return on a property based on its income and purchase price. - It is calculated by dividing the property's net operating income by its current market value or purchase price. - Cap Rate is a metric used to compare the potential returns of different properties. - A higher cap rate indicates a higher return on investment, and a lower cap rate indicates a lower return. - Cap rate is used to evaluate the performance of a property and its potential as an investment. - Cap rate can be used to compare the yields of different properties and areas, even though it is a ratio, it does not take into account the cost of debt. ### **15. GDS (Gross Debt Service)** Gross Debt Service (GDS) ratio is a measure used by mortgage lenders to determine a borrower's ability to afford the mortgage payments on a property. - It is calculated by dividing the total mortgage payments, including principal, interest, property taxes, and heating costs, by the borrower's gross income. - GDS is one of the two ratios used to qualify borrowers, the other being TDS (Total Debt Service). - It is used to evaluate the borrower's ability to meet the housing cost, it is usually expressed as a percentage. - Lenders usually have a maximum GDS ratio, typically between 31% and 39% - A high GDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments. - A low GDS ratio may indicate that a borrower has a lower risk of defaulting on the loan. ### **16. TDS (Total Debt Service)** Total Debt Service (TDS) ratio is a measure used by mortgage lenders to determine a borrower's overall ability to afford the mortgage payments on a property, as well as their other debts and expenses. - It is calculated by dividing the total monthly debt payments, including mortgage payments, credit card payments, car loans, and any other debts, by the borrower's gross income. - TDS is one of the two ratios used to qualify borrowers, the other being GDS (Gross Debt Service). - Lenders usually have a maximum TDS ratio, typically between 42% and 44% - A high TDS ratio may indicate that a borrower is over-extended and may have difficulty making mortgage payments and other debts. - A low TDS ratio may indicate that a borrower has a lower risk of defaulting on the loan and other debts. ### **17. JT (Joint Tenancy)** Joint Tenancy is a type of co-ownership of property where two or more individuals own the property together. - Each owner holds an equal and undivided interest in the property. - Joint tenants have the right of survivorship, meaning that if one of the owners passes away, their interest in the property passes automatically to the remaining owners. - In a joint tenancy, all parties have equal rights and responsibilities on the property - Each joint tenant has the right to use the entire property. - All the parties need to agree to sell the property or make any changes to it. - In case of death, the share of the deceased tenant automatically goes to the surviving tenant/s. ### **18. TIC (Tenancy in Common)** Tenancy in Common (TIC) is a type of co-ownership of property where two or more individuals own the property together, but each has a distinct and separate share of the property. - No right of survivorship, meaning if one owner dies, their share does not automatically pass to the remaining owners. - Allows multiple parties to invest in real estate together or pass assets onto beneficiaries. - Each tenant owns a specific percentage of the property and can sell or dispose of their share. - Tenants have right to use entire property, but cannot sell or make changes without agreement of other tenants. - In case of death, share is passed on according to will or testamentary disposition, not automatically to surviving tenants. - Different from Joint Tenancy which has equal shares and right of survivorship. ### **19. Lien** - A lien is a legal claim on a property that gives a lender or other creditor the right to seize the property if the borrower or property owner fails to fulfill their obligation. - Liens can be placed on property for unpaid debts, taxes, or other financial obligations. - Liens can be either voluntary, such as a mortgage, or involuntary, such as a judgment lien. - Liens are recorded in the public records, this means that they are visible to anyone who searches. the records. - When the property is sold, the lien must be paid off before the sale can be completed. - If the lien is not paid off the property may be foreclosed or seized by the creditor. ### **20. Ontario Agreement of Purchase and Sale** The Agreement of Purchase and Sale (APS) is a legally binding contract between a buyer and a seller for the purchase of a property in the province of Ontario, Canada. - Outlines terms and conditions including purchase price, closing date, and contingencies. - Prepared by a real estate agent or lawyer, reviewed and signed by both parties, and a copy provided to each. - Includes schedule of chattels and fixtures, closing date, and contingencies, if any. - Legally binding contract, both parties have legal obligations and rights related to the sale. - Buyer typically pays deposit held in trust until closing. - Starting point for completion of sale transaction and ownership transfer. ## Knowing the Canadian Real Estate Concepts The understanding of the real estate terms specific to Canada is essential for home buyers, sellers and agents in order to navigate the market and make informed decisions. Being familiar with terms such as CMHC, ARV, LTV, Cap Rate, GDS, TDS, JT, TIC, CMA, APS, and others, can help you understand the mortgage process, evaluate properties, and negotiate the terms of a sale. Whether you're a [first-time home buyer](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better), an experienced investor, or a real estate agent, having a solid understanding of these terms will help you make the most of the Canadian real estate market. Did we miss any important term here? Do you wish to include any other interesting concept on real estate in Canada, do comment and share your views.

Can a non-resident get a mortgage to purchase a house in Canada?

The Canadian real estate market is open to both residents of Canada and non-citizens who reside abroad. There are no restrictions on the kind or quantity of real estate that may be bought in Canada. As a result, a lot of people are interested in buying real estate in Canada but are unable to do so due to a lack of available funds because buying a home or piece of property can be very expensive. Therefore, the majority of people require bank financing or a mortgage in order to buy a piece of land or a house. So, today will determine whether a non-resident can get a mortgage to buy a home in Canada or not. ## Can a non-resident get a mortgage to buy a house in Canada? Yes, non-residents who want to purchase a home in Canada can apply for a mortgage there. Although the interest rates are very similar, Canadian banks frequently demand a larger down payment from non-residents than they do from residents. A **minimum of 35% of the home's value is typically required as a down payment** but these requirements may differ from bank to bank, with some being stricter than others. However, in addition to the down payment, non-residents will often have to show the following as well: - Employment verification letter (including income verification) - Bank statements as proof of deposit(at least three months) - Six months of financial statements or an international credit bureau report - A Canadian bank account from which mortgage payments can be made. There are several other lenders that offer mortgages. These lenders can offer a mortgage of up to 65% of the property’s value. You will also need a reference letter from your bank, bank statements for the previous three months, credit information, and tax returns to prove your ability to pay the mortgage. Additionally, these different lenders may offer comparable products with different interest rates and terms. To make sure you're getting the best mortgage product for your needs, speak with several lenders. Canada has substantial expat communities as well as many foreigners that visit for vacations, employment, or study for a short time. Anyone can purchase real estate in Canada, whether they are a citizen, a resident, or a non-resident. This means that you will be able to purchase land in Canada even if you are a non-resident who resides permanently in another nation. But a frequent query that many individuals have is whether they must travel to Canada in order to purchase real estate while they are non-residents. So today we'll find out if you have to be physically present in Canada to purchase a property or not. ## Being a Non-resident, do I need to come to Canada to buy a property? There are no restrictions on non-resident investors buying real estate or businesses in Canada. You are thus free to buy houses, businesses, commercial properties, or agricultural land. There is no requirement for residency or even physical presence in Canada. You can, in fact, look for properties online from anywhere in the world, work with an agent to do so, and even make a purchase. However, you will need to travel to Canada at least twice if you want to buy a property there. The first time is to open a Canadian bank account so you can get Canadian financing. The second time is to sign all of the necessary paperwork. Foreign homebuyers are not permitted to grant powers of attorney for the purpose of remotely signing real estate documents. **Important:** Until recently, anyone could purchase real estate in Canada. But, after the introduction of Foreign Home Buyer Ban effective from January 2023 any non-permanent residents and non-citizens won't be allowed to purchase residential property for a period of 2 years. ## Do you need to come to Canada to buy a property? You can virtually anywhere in the world see a property online or by working with an agent to do so, and even make a purchase. However, there are specific phases of this process where you'll need to visit Canada, such as when you have to open a bank account, which, as we previously stated, is required for the purchase of real estate. ## Non-resident can get a mortgage to purchase a house in Canada Yes, non-residents can get a mortgage in Canada to finance the purchase of a home in Canada. And as far as mortgage interest rates go, both Canadians and non-residents are subject to the same rates as long as they meet the requirements for mortgage eligibility.

What is the most prestigious real estate company in Canada?

When it comes to buying or selling a home, it's important to work with a reputed and experienced real estate company as they that you get the best deal in the local market. In Canada, there are many companies to choose from, but some stand out above the rest. So, to help you out we'll explore the top real estate companies in Canada, including their specialties and reputation. ## What is the most prestigious real estate company in Canada? Here are the two most prestigious real estate company in Canada- the first is known for its expertise in developing large-scale, master-planned communities. The second is known for its focus on helping buyers and sellers with the purchase and sale of properties. ## 1. Concord Pacific: Building High-Quality Properties Concord Pacific is a real estate development company that has established itself as a leader in the Canadian market. The company is known for building high-quality properties that are designed to be both functional and aesthetically pleasing. Concord Pacific has built numerous properties throughout Canada, with a focus on large-scale, master-planned communities. Their developments often include a mix of residential, commercial, and retail space, as well as public amenities such as parks and community centers. One of the key strengths of Concord Pacific is its commitment to sustainability. The company incorporates sustainable features into all its projects, such as energy-efficient building materials, green roofs, and renewable energy sources. This focus on sustainability has earned Concord Pacific numerous awards and recognition for its environmentally responsible developments. **Some Projects by Concord Pacific** - Concord Pacific Place - Central Condominiums - King’s Landing - Park George II ## 2. MaxWell Realty Canada: Providing Excellent Customer Service MaxWell Realty Canada is a real estate brokerage company that has built a reputation for providing excellent customer service. The company's team of real estate agents are knowledgeable about the local real estate market and work closely with clients to help them find their dream homes. MaxWell Realty Canada also offers a range of services to sellers, including property evaluation, marketing, and negotiation. One of the key strengths of MaxWell Realty Canada is its focus on technology. The company uses the latest tools and software to streamline the buying and selling process, making it easier and more convenient for clients. MaxWell Realty Canada also offers a range of online resources, such as property search tools and market reports, to help clients stay informed about the real estate market. ## Most prestigious real estate company in Canada When it comes to choosing a real estate company, it's important to consider what you're looking for in terms of services and expertise. If you're interested in investing in high-quality, sustainable properties, a company like Concord Pacific may be the better choice. On the other hand, if you're looking for assistance with buying or selling a property, a company like MaxWell Realty Canada may be the better option due to their focus on customer service and technology.

What are some common real estate investment strategies in Canada?

Real estate is a popular investment option in Canada, as it offers various opportunities for investors to make money. Whether you're looking for a short-term or long-term investment, there are several strategies you can use to invest in real estate in Canada. So, today we'll explore some common real estate investment strategies in Canada. ## What are some common real estate investment strategies in Canada? Here are the most popular real estate investment methods in Canada- ## 1. Rental Property Investing One of the most popular strategies for investing in real estate in Canada is rental property investing. This involves purchasing a property and renting it out to tenants. The rent you receive from tenants can generate a steady cash flow, and over time, the property's value can appreciate. To be successful with rental property investing, you'll need to find a location where rental demand is high and ensure that the rental income covers your expenses, including mortgage payments, property taxes, and maintenance costs. ## 2. Fix and Flip Investing Fix and flip investing involves buying a distressed property, renovating it, and then selling it for a profit. This strategy can be lucrative, but it requires a lot of work, knowledge, and capital to succeed. You'll need to have a good understanding of the local real estate market to know what types of properties are in demand and how much they can sell for after renovation. You'll also need to be able to manage the renovation process and have access to financing to cover the costs. ## 3. Mortgage Investing Mortgage investing involves lending money to other investors who are purchasing real estate. As a lender, you can earn interest on the loan, and the investor can use the funds to purchase a property. This strategy can be less hands-on than rental property or fix and flip investing, but it comes with its own set of risks. You'll need to carefully vet the borrower and the property they're purchasing to ensure that they're a good risk. ## 4. Commercial Property Investing Investing in commercial real estate can be another way to diversify your real estate portfolio. This strategy involves purchasing properties like office buildings, retail spaces, or industrial properties and renting them out to businesses. Commercial properties can generate significant rental income, and leases are often longer-term than residential leases. However, investing in commercial properties can require a more significant capital investment than residential properties. ## 5. Real Estate Investment Trusts (REITs) A real estate investment trust, or REIT, is a company that owns and manages a portfolio of income-generating properties. By investing in a REIT, you can own a small part of a diversified real estate portfolio without needing to purchase and manage properties yourself. REITs can provide a steady stream of passive income, and they can be traded like stocks. However, investing in REITs does come with risks, including market fluctuations and management decisions. ## Common real estate investment strategies in Canada There are several real estate investment strategies in Canada that can help you achieve your investment goals. The right strategy for you will depend on your financial situation, risk tolerance, and investment objectives. Whether you're looking for a short-term or long-term investment, rental property, fix and flip, mortgage investing, vacation rental, commercial property investing, and REITs are all viable options to consider.

How much commission do real estate agents make in Canada?

Real estate will probably be the most expensive purchase you ever make especially if you live in Canada. And the real estate commission you pay when you sell will probably be the largest fee you ever incur in your lifetime. Because both the buyer and the seller want a satisfying deal, the buyer wants to buy at a price that is very reasonable, while the seller wants to get the best possible price. So here come real estate agents, who set up real estate deals by bringing together buyers and sellers and negotiating on their behalf. These agents are typically paid entirely through a commission, so today we'll look at how much commission real estate agents make in Canada. ## How much commission do real estate agents make in Canada? The deal primarily involves two agents: the listing agent, who represents the seller, and the buyer agent, who aids in the sale of the property by bringing a buyer. The commission paid to a real estate agent in Canada is a percentage of the home's sale price, and it is typically paid by the seller, first to the listing agent, who then distributes a portion of the commission to the buyer's agent. Therefore, when it comes to commission, real estate agents in Canada are not subject to any mandated or fixed commission rates.**The commission rate in Canada varies by province and mostly ranges from 3% to 7% of the sale price**. The commission, however, is only paid once the property has been sold; prior to that, all of the services provided by the agent are typically provided free of charge. Strange but true! The top 10% of agents in Canada make more than 10 sales per year. **Real Estate Agent Commission in Different provinces of Canada-** ![Real Estate Commission in Canada.png](https://s3.amazonaws.com/assets.getnewhouse.ca/Real_Estate_Commission_in_Canada_4c56b76d26.png) ## Real estate agents Commission in Canada Real estate commission rates can be negotiated depending on the property and market. Some agents might consent to lower upfront fees while others might not. Therefore, the commission paid to agents is typically around 5% of the selling price, which is typically split equally between the listing agent and the buyer agent. Each agent will then give the broker's share, which is usually 30% of the agent's commission.