FAQs

The right time to sell depends on a combination of market conditions and your personal circumstances. While a seller’s market might give you an advantage, your readiness to move is just as important. At Compass Realty, we provide personalized insights to help you make the best decision on your timeline.

Niagara offers diverse neighbourhoods, from family-friendly communities to vibrant city centres and peaceful rural properties. Factors to consider include proximity to schools, parks, amenities, and your lifestyle goals. With our local expertise, we can help you find a home that truly fits your needs.

Closing costs in Ontario include expenses such as legal fees, land transfer taxes, title insurance, and adjustments for property taxes or utilities. Buyers should budget approximately 1.5–4% of the home’s purchase price for these costs.

A home evaluation determines your property’s current market value based on factors like recent sales in your area, market trends, and unique features of your home. It’s a key step in understanding your property’s worth, whether you’re planning to sell or simply curious.

Niagara offers a unique blend of natural beauty, cultural attractions, and thriving communities. From the stunning waterfronts of Port Colborne to the lively downtowns of Niagara Falls and St. Catharines, there’s something for everyone. Whether you’re drawn to wineries, hiking trails, or a relaxed pace of life, Niagara has it all.

Property taxes are based on the assessed value of your home, as determined by the Municipal Property Assessment Corporation (MPAC). These taxes fund local services like schools, roads, and emergency services and are typically paid annually or in instalments.

Land transfer tax is a fee paid by the buyer upon purchasing a property. In Ontario, the tax is calculated as a percentage of the home’s purchase price. First-time homebuyers may qualify for rebates to help offset this cost.

A conditional offer is an agreement to purchase a property, but the sale depends on specific conditions being met—such as securing financing, completing a home inspection, or selling an existing property. If the conditions aren’t met, the deal can be cancelled without penalty.

  • Pre-Qualification: A quick assessment of how much you might be able to borrow, based on basic financial details.
  • Pre-Approval: A more detailed process where the lender verifies your financial information and gives you a written commitment for a loan amount. Pre-approval is stronger when making an offer.
A home inspection is a thorough examination of a property’s condition by a certified inspector. They evaluate key areas like the roof, foundation, plumbing, and electrical systems, providing a report that helps buyers make informed decisions.
A multiple offer situation occurs when more than one buyer submits an offer on the same property. Sellers often review all offers and choose the most favourable one. As a buyer, working with an experienced realtor is essential to crafting a competitive offer.
  • Freehold: You own the property and the land it sits on, with full responsibility for maintenance.
  • Condominium: You own the unit but share ownership of common areas, such as lobbies or pools, and pay monthly condo fees for their upkeep.
A home equity update provides you with a snapshot of how much equity you’ve built in your home, considering its current market value and your remaining mortgage balance. It’s a great tool for tracking your investment.
The closing process in Ontario typically takes 30 to 90 days from the date an offer is accepted. This timeline can vary depending on factors like financing and conditions in the offer.
Title insurance protects buyers and lenders against potential issues with the property’s title, such as liens, fraud, or ownership disputes. While not mandatory, it’s highly recommended for peace of mind.
A deposit is an upfront payment made by the buyer when an offer is accepted, showing their commitment to the purchase. A down payment is the larger amount paid at closing, representing a percentage of the home’s purchase price.
Seller representation is when a real estate agent represents the seller in a transaction, ensuring their best interests are prioritized. This includes pricing the home, marketing it effectively, and negotiating with potential buyers.
Seller concessions are financial incentives offered by the seller to help the buyer with closing costs or repairs. While less common in Canada, they can be negotiated in certain situations to make the transaction more favourable for the buyer.
A local realtor knows the market trends, neighbourhoods, and unique features of the area. This expertise ensures accurate pricing, targeted marketing, and the ability to find homes that truly fit your needs.
Strategies like getting pre-approved for a mortgage, offering a larger deposit, or including flexible terms can make your offer more appealing. Working with an experienced realtor ensures your offer is strong and competitive.

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