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What expenses can you deduct when renovating a rental property? Jun 13th
Ask MoneySense
I am trying to understand if I am eligible to claim renovation expenses including property taxes, insurance, rental loss, etc. on an investment property I bought and completed renovations on.
I purchased a duplex that was rented and then vacated when final purchase went through. Th.... More »
How to make better financial decisions—without regret—in a crisis Jan 27th
How do you make no-regret decisions when you are in crisis? You follow the guidelines in what I call the Decision Crisis Playbook.
The Decision Crisis Playbook
In this book, a decision crisis means you have to make big decisions at a really difficult time but your basic needs .... More »
Analysts downgrade SVB Financial as uncertainty around tech-focused bank looms - CNBC Mar 10th
Analysts downgrade SVB Financial as uncertainty around tech-focused bank looms CNBCWhy Silicon Valley Bank's crisis is rattling America's biggest banks Yahoo Canada FinanceBanks tumble as SVB Financial Group's share sale ignites capitalization fears The Globe and Mai.... More »
U of W says student, faculty info stolen in cyberattack - Winnipeg Free Press Apr 4th
U of W says student, faculty info stolen in cyberattack Winnipeg Free PressUniversity of Winnipeg cyber attack affecting employees, students | CTV News CTV News WinnipegUniversity of Winnipeg says cyberattack stole employee, student financial info Global NewsPersonal.... More »
Why did Silicon Valley Bank fail and is a financial crisis next? - Al Jazeera English + MORE Mar 14th
Why did Silicon Valley Bank fail and is a financial crisis next? Al Jazeera EnglishCanada, other governments hustle to stop Silicon Valley Bank crisis from spreading CBC NewsSilicon Valley Bank Paid Out Bonuses HOURS Before Collapsing & Lobbied For Years To Deregulate .... More »
What happens when a buyer backs out of a real estate deal?
– moneysense.ca
When it comes to backing out of a real estate deal, the law doesn’t tend to side with the dealbreaker, says Ron Butler, a veteran mortgage broker and one of the founders of Butler Mortgage in Toronto. If you’re the buyer, “You should find a way to complete the sale—beg, borrow, do whatever you need to do—but close, because the case law overwhelmingly favours the seller,” he says, adding that the courts aren’t usually sympathetic towards the dealbreaker, no matter their reasons or motivations.
Julia Sebastian discovered this the hard way. She entered an agreement of purchase and sale for a $995,000 home on Glasshill Grove in the Erin Mills neighbourhood of Mississauga, Ont in May 2017. She seemed particularly eager. Not only did she offer $45,100 above asking, but she also waived the two conditions of adequate financing and a home inspection—a move intended to make her offer as attractive as possible.
Before the deal could close, the property was appraised for only $920,000, and as a result, Sebastian’s financing was denied…
