John Zinati is a veteran experienced real estate lawyer and partner at Zinati Kay Barristers & Solicitors. He holds a Bachelor of Arts from the University of Toronto and a Bachelor of Laws from Osgoode Hall Law School.
With the ever-changing landscape of the real estate industry, it's important to stay informed on the latest developments and regulations. One such change is the introduction of “open bidding” in Ontario, which has left many hopeful and also doubtful.
The recent resurgence of vendor take-back (VTB) mortgages has grabbed the attention of those in the pre-construction industry. With the right financing terms, both the buyer and the developer may benefit from this mortgage option.
VTB mortgages first became popular in the late 80s as an incentive for buyers to purchase a home during a time when lenders proposed high-interest rates and severe conditions. From the 90s until 2018, VTB mortgages were put on the sideline.
... How Lower Pre-Construction Appraisals Lead to More VTB Mortgages
When it comes to successful real estate transactions, having a real estate lawyer to help you navigate the complexities of transactions can save you money and time.
A real estate agreement is a legally binding document between the potential buyer and the seller of a home and/or property. This transaction requires a proper understanding of the intricacies of several different documents which will be formally signed by both parties. A real estate lawyer has the knowledge, expertise, and experience to provide information for their client's best interests.
A post-closing dispute between a buyer and a seller of a property can happen for numerous reasons—but buyer withdrawals are the most common reason. These housing disputes can be drawn-out and costly, and almost always lead to a cloud of ambiguity over the closing purchase price. Here’s what you need to know about buyer withdrawals.
If you’re looking to buy or sell your home in the upcoming months, you’ve probably heard the phrase “buyer’s market”. But what exactly is a buyer’s market and how can it impact your home purchase or sale?
A buyer’s market occurs when there are more houses on the market for sale than there are potential buyers. This surplus gives buyers several advantages when looking for their dream home, including financial savings.
... Common Mistakes to Avoid When Buying a Home in a Buyer’s Market
If your closing date has been delayed by a building corporation, you’re likely feeling frustration and anxiety. While there are many viable reasons for builders to push back closing dates, there are also several “unacceptable” reasons.
Regardless of the cause of the delay, this situation can have major impacts on the local housing market and on a homebuyer’s financial future.
When completing a real estate Agreement of Purchase and Sale, there are key areas where having the knowledge of a real estate lawyer can help save you money and time. A misspelled word, incorrect pricing, and vague details can delay or halt a real estate transaction, costing the buyer a significant amount of money.
... Real Estate Agreement: The Do’s and Don’ts of Negotiating Terms
Real estate lawyers are legal experts in the home-buying process. They can be your guide to protecting one of life’s biggest investments while ensuring your legal responsibilities are safeguarded.
The cost of buying a home is much more than just the asking price on the real estate sign. There are various municipal, provincial, and federal fees and hidden costs that can stretch your house budget to the sky.
Are you ready to sell your condo and move on to the next chapter in your life? It's an exciting but daunting prospect, especially in today's competitive housing market. Luckily, with a few smart steps you can make sure that your condo sells quickly and for top dollar. In this article, we'll walk through how to do just that! From preparing for sale, setting the right price, listing your property strategically and more…here is everything you need to know about selling a condo.
Selling or buying a home? Protect yourself from any liabilities or obstacles during the closing process by ensuring the property has a clear title. Addressing any title defects early can help pave the way for a smooth real estate transaction.
... Why a Clear Title Is Important in Real Estate Transactions
Rising interest rates are a point of concern for all Canadians, especially for homebuyers. As the real estate market continues to surge across the country thanks to high demand and low supply, interest rates continue to increase as well. Below, we explore the impact rising interest rates have on homeowners.
Real estate title defects costs Canadians millions of dollars every year. A reputable real estate lawyer can help protect a seller’s and buyer’s interests by performing several tasks, including the common title search.
In January, a new by-law under residential real estate laws was implemented by the Canadian Federal Government to reduce the number of homes that are flipped in the country. Canadians who purchased residential property with the intentions of “flipping” the house may want to take note of the new law.
Flipping a property entails a purchase of a house, completing renovations or improvements, and increasing the purchase price to make a profit as a resale. In some cases, the property is “resold” before an official available sell date.
... New Anti-Flipping Rules for Residential Real Estate in Toronto
Real estate litigation is a multifaceted legal practice that encompasses several different areas of the law. Typically, it involves disputes between property buyers, sellers, or investors. While the process of real estate litigation may seem complicated and intimidating, it offers an essential means for resolving disputes and upholding legal rights in real estate matters.
... How Real Estate Lawyers Can Help You with Real Estate Litigation
Real estate lawyers are the gurus of the home buying and selling process. With their knowledge, training, and experience, these lawyers focus on protecting their client’s financial futures. Buying or selling property takes a massive amount of time, research, and negotiations. Plus, it’s likely one of the biggest transactions you’ll ever make in your life! You want to make sure you are in good hands.
In the process of managing all the steps in the buying and selling process, a real estate lawyer helps to maximize your investment in the deal. They will review all documentation including the Agreement of Purchase and Sale and the mortgage documents that may be needed. They can even help you draft if necessary.
Are you planning to buy or sell real estate in Toronto but aren't sure where to start? Don't fret! Choosing the right real estate lawyer is a critical step that can make all the difference. Our comprehensive guide will provide you with everything you need to know about selecting the right real estate lawyer in Toronto for your situation and ensuring your transaction moves ahead smoothly. From what questions to ask prospective lawyers, understanding their fees, and knowing when it's time to move forward, we'll cover it all!
... Choosing the Right Real Estate Lawyer in Toronto: A Guide
Navigating the Toronto real estate market might seem like it takes several science degrees and a law degree to ensure all your investments are protected. Buying a home is an exciting time but it can quickly become overwhelming and uncover challenges such as bidding wars, hidden defects, title issues, and expensive closing costs.
This is why it is imperative to enlist the help of a reputable lawyer to act as a Toronto real estate guide. To understand the potential pitfalls that can be seen in Toronto’s 2023 real estate market, this article looks at the foundation of the local landscape.
Condo disputes of any form may require the assistance of a knowledgeable and expert real estate lawyer. In this article, we discuss the common condo disputes you might find yourself in and how you can resolve them.
... How a Condo Lawyer Can Help in Navigating Condo Disputes
Potential home buyers excited about the future may be facing challenges during the closing process thanks to recent economic changes.
John Zinati of Zinati Kay – Real Estate Lawyers has been helping home buyers and sellers navigate the closing process across the GTA for 25 years. As a leading real estate contributor to CTV and CFRB, Zinati has been offering sound legal advice through his Toronto real estate office and his newsletter Title Tips.
Recently, he spoke to the Toronto Star about the challenges buyers may be facing with the closing process in the current housing market.
Buying a house in a buyer’s market offers a wide range of benefits for buyers. In Toronto, while we might not be there quite yet because of tight supply, now may be the perfect time to begin the search for your dream home in a prime location that suits your unique needs.
A buyer’s market occurs when there are more homes on the market compared to the number of buyers, thus giving a variety of advantages to buyers who are looking for a place to call home. We now mostly have a shortage of inventory but spring is often at times when people start to list. If this occurs things will get better for buyers. Maybe then we’ll have a Buyer’s Market. Below we list some of the top benefits of buying a house in a buyer’s market.
... 8 Advantages of Buying a House in a Buyer’s Market of Toronto