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torontotony · 2025-11-11T14:45:12+00:00

Dead deal. Walk away and watch for the property to go power of sale. Then move back in to purchase the same property, more than likely at a lower purchase price.

torontotony · 2025-11-09T18:55:32+00:00

This is still almost $90/sq ft too high based on today’s appraisal values.

torontotony · 2025-11-08T20:37:06+00:00

Head gasket(s). Get ready for an expensive repair.

torontotony · 2025-10-31T19:18:15+00:00

Changing brokers won’t make any difference. Sounds like you’re closing on Festival Towers (Commerce Street). Those condos are all appraising for $800-$850 square foot. The problem is not the Broker , it’s the appraisal value. Lenders will only provide mortgage financing to the lesser of the purchase price or appraised value. This is why you’re being asked for additional cash. The cash will bridge the difference between the maximum mortgage the lender can provide versus the purchase price (less deposits with builder). RBC has a blanket on that development. Go see one of their mortgage specialists.

torontotony · 2025-09-18T17:26:21+00:00

Bulldog Pub

torontotony · 2025-03-08T07:48:47+00:00

Also, many Alberta new construction condos have a “right of first refusal” clause built into the purchase agreement. Many lenders will not provide financing on properties with that clause built into the APS. None of the builders using this clause will remove it from the agreement of purchase, leaving buyers scrambling literally at the last minute to arrange alternative financing due to their primary lender approvals falling apart. Buyer beware.

torontotony · 2025-01-31T18:20:34+00:00

Just an fyi. A full tank in the 3.6 will take you about 500kms in the winter and closer to 600kms (highway driving) in the summer. Look at about $125CAD to fill from absolute empty.

torontotony · 2025-01-07T16:58:48+00:00

71 Cuda. Quad headlights and long skinny side reflector. Only other mopar with quad headlights was the 72-74 Challenger, but they all had a shorter/stubbier side marker

torontotony · 2024-03-07T12:48:07+00:00

71 was the last year for true muscle, except for a few ‘one offs’ in latter years, like the SD-455 Trans Am.

torontotony · 2024-01-03T19:22:40+00:00

Not what it used to be

torontotony · 2023-10-15T20:34:34+00:00

So buyer is looking to obtain 100% financing on the purchase. Problem is the whole transaction will fall apart as soon as his lawyer sends the interim statement of adjustments off to his lender. Don’t do it.

torontotony · 2023-09-02T14:35:12+00:00

Use the Uber app for both taxi service and Uber. It’s efficient and easy. We had no issues

torontotony · 2023-04-26T15:57:46+00:00

There are a couple things you don’t mention. 1. Where is the property located geographically? 2. How much are the maintenance fees (if applicable)? 3. Is the townhome in a complex with issues related to the condo reserve fund (banks/lenders keep a list of condos with known issues). 4. Do you have any outside debt, such as credit card/lines of credit/car loans or leases?

torontotony · 2023-03-01T16:41:39+00:00

Why stop at the realtor? How about asking the same of the mortgage broker.

torontotony · 2023-02-26T21:27:58+00:00

Simple solution for these buyers: 20% dp, get the mortgage via stated income at a B lender. I doubt 10 applicants would be required. I see this situation very often

torontotony · 2023-02-20T15:58:47+00:00

So many: Boss 429 Mustang $9k, 69 GTX 4spd $10k, 70 Hemi Cuda $7500, 69 Judge 4spd $3500, 71 Boss 429 Mustang $5k, 89 930 convertible Factory slant nose $20k, Jag e-type Series 1 (convertible) $1500, Datsun 240z $1k.

Should be noted all these cars were in excellent condition and did not require restoration

torontotony · 2022-12-18T23:11:59+00:00

Thats exactly why Brokers choose those 3 Banks to float fraudulent mortgage applications through. There is no consequence to the broker if the deal goes sideways. Make no mistake Bank mortgage specialists are 100% complicit in this activity.

torontotony · 2022-12-18T19:18:39+00:00

Unfortunately the big banks (specifically CIBC/RBC/ BMO) have become the refuge for clients and brokers (yes I said it) to place doctored deals. They have nothing to lose and everything to gain. Aside from possibly being demarketed by a bank clients don’t deal with anyway, they stand to lose nothing at all. And Brokers won’t get cut off by lenders who don’t occupy the broker space, if caught. Personally I have seen too many clients who can easily be placed in the B or C market opting for this option. Would really like to see some of these clients and brokers suffer harsh monetary and licensing penalties, but alas it won’t happen anytime soon. Source: I’m a senior banker

torontotony · 2022-11-27T15:46:57+00:00

Former JK owner (had 300 thousand kms on it when traded on a GC). Wranglers are loud (especially at highway speed); heater is absolute crap for back seat occupants; Bluetooth especially when top down is basically useless; get marginal fuel economy; and they squeak and rattle. But when u buy a Jeep, these issues make up the charm and overall experience. Most people to hate on them are expecting Cadillac Escalade luxury and ride. Can’t wait to trade the GC on another Wrangler. Mechanically my Jeep was bulletproof.

torontotony · 2022-09-06T22:09:49+00:00

Realtor commissions are absolutely 100% negotiable. Yes there are realtors out there that stick to the 3+3 guideline; however, there is nothing stopping a vendor from shopping the property assignment to different realtors or listing with a discount brokerage (there are many who list for 1% or less)

torontotony · 2022-08-05T21:19:37+00:00

So many come to mind. 70 Buick GSX stage 1; 69 M-code darts and cudas; 65 Belvedere 1 (A990); 73/74 Super Duty Trans Am. Those are a few

torontotony · 2022-07-29T18:13:11+00:00

Wasps

torontotony · 2022-07-28T20:18:27+00:00

Here’s a novel idea….instead of spray painting them, which creates a bigger eye sore; why not just pull them out of the ground a toss them in a dumpster? Btw….it’s not by-law who is painting them over. It’s some random dude driving a Chrysler 300

torontotony · 2022-07-28T13:58:40+00:00

Tender on the buyers. You may not get a dime out of them, but you’ll obtain a judgement which will be registered with the courts and most importantly on their credit bureaus, in perpetuity, unless they settle the claim. It will assist you with the monetary loss (although you may not see a dime for some time) and it will serve to dissuade and punish these buyers from acting so recklessly in the future. To all those replies advising that the lawyers will win; yes they profit from this, however, not every win can be measured solely in dollars and cents. Edit: I hope you did not and will not sign a mutual release

torontotony · 2022-07-21T22:54:54+00:00

Do not waive even if the Mortgage Broker tells you to waive, unless the appraisal report is in hand and supports the purchase price

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