About: John Zinati


John ZinatiJohn 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.

Avoid These Common Home Title Transfer Mistakes

When you’re doing a title transfer in Toronto, things can get complicated. Without the support of an expert lawyer for title transfers in Toronto, there’s a risk that a costly mistake could be made. That’s why you should work with a top real estate lawyer in Toronto to minimize the possibility of errors and to ensure that your title transfer goes smoothly.

Below, we’ll enumerate just a few of the title tips that’ll you can use to guarantee a successful, error-free transfer.

... Avoid These Common Home Title Transfer Mistakes

The Ultimate Checklist for Homebuyers before a House Closing in Toronto

When buying a home, it really pays to do your due diligence. Hundreds of thousands—if not millions—of dollars are on the line; it’s simply not worth rushing the process. As any top real estate closing lawyer in Toronto will tell you, there are several common oversights that buyers need to be mindful of when closing.

Whether this is your first home purchase or one of many, it always pays to make sure that the house and its major assets and installations (like appliances and piping) are in good-working order, so when you move in, you won’t be stuck with a huge surprise bill following your down payment. The time to check the condition of the houses before your lawyer turns over the money to the seller as this is the best time to try and get any matters addressed if you are able to under the terms of the agreement of purchase and sale.

As such, we’ve developed a comprehensive checklist to ensure that you’re fully ready to close on the house of your dreams.

... The Ultimate Checklist for Homebuyers before a House Closing in Toronto

Buying a House in Toronto: How a Real Estate Lawyer Can Help

Buying a house can be an exhilarating, life-changing process that results with you and your family finding the perfect home. But it’s also a daunting process—and likely to be the largest purchase you’ll ever have to make. It’s for that reason that many will turn to a good real estate lawyer in Toronto to ensure that they’re not missing any key steps or details when completing a home purchase.

While there is a difference in service you can expect when working with, say, the best real estate lawyer in Toronto versus an unproven one, overall, there’s a lot of added value that a real estate lawyer in Toronto can provide.

So, how exactly can a home-buying lawyer in Toronto help you during this time? Read on to find out.

... Buying a House in Toronto: How a Real Estate Lawyer Can Help

Title Tips – There is No Cooling-off Period on New Home Purchases

With the market as busy as it is, including purchases of new homes from builders, we thought it would be important to address a significant mistake we are seeing. Many people know that there is a 10 day cooling off period when a buyer buys a new build Condominium. Unfortunately, they also presume that this applies to new home freehold purchases. It does not. The 10 day cooling off period applies only to purchases of new Condominium units. It does not apply to the purchase of a new freehold home from a builder. If a buyer wishes to have a chance to review a new freehold home purchase agreement from a builder there must be a clause in the agreement making the transaction conditional on Solicitor's review of the new home purchase agreement. It is not automatic, like it is with the condominium. With all purchases of new homes we recommend the inclusion of a Solicitor's review condition, especially with all of the extra charges and other builder advantages we are seeing in these agreements. Even if it is hard to change these agreements in the current market, it is still helpful to know what is in them.

... Title Tips – There is No Cooling-off Period on New Home Purchases

Tips for Buying and Selling a Home during COVID-19

It goes without saying that 2020 was a year unlike any we had collectively experienced before. From little things like keeping hand sanitizer in your bag to big things like buying and selling a home in a safe and responsible way, COVID-19 has certainly made us adapt to a new way of life.

With that said, we’ll explore some things to keep in mind whether you’re buying a home during COVID-19 or selling a home during COVID-19.

... Tips for Buying and Selling a Home during COVID-19

What Are the Risks of Adding Someone to Your Property Title?

For many people, their homes will be the single biggest investment of their lives and their largest source of equity. As such, no decision regarding ownership of said equity should ever be taken lightly. As any experienced real estate lawyer in Toronto will tell you, you should consider the risks carefully before adding another name to your property title.

Remember that by adding a person to your property title, you are legally granting them a bundle of rights including control, enjoyment, possession, exclusion, and disposition of the property that were formerly exclusive to you. This is a major decision and requires careful thought and planning.

The best real estate lawyer in Toronto will advise you of all the risks that adding someone to your property title entails. These risks are no small matters either, and if ignored, can lead to significant consequences.

Here are some risks to consider.

... What Are the Risks of Adding Someone to Your Property Title?

3 Tips for Choosing the Right Closing Date

You’ve done the hard part: you’ve found a home you love and have made an offer. Congratulations! But the next step that people often overlook is extremely important: choosing the right closing date. As any good real estate lawyer that deals with house closings in Toronto will tell you, this date shouldn’t be selected at random.

While the seller may stipulate a closing date in the contract, let’s take a look at some helpful tips that will guide you in choosing the right closing date when the option is available.

... 3 Tips for Choosing the Right Closing Date

6 Things You Need to Know about Refinancing Your Mortgage

Finding your dream home is pretty exciting. The same cannot be said about qualifying for a mortgage. Many homeowners find refinancing their mortgage to be stressful, and for good reason—from different interest rates to amortization periods and penalties, there is a lot to consider.

But it can be worth it. Refinancing a mortgage with more favourable terms and conditions can save you thousands of dollars in interest charges. Refinancing a mortgage with a lower interest rate is also a great way consolidate and pay off debt and access some of the equity you’ve built up in your home.

If you’re thinking about refinancing your mortgage in Toronto, here are six things you need to consider.

... 6 Things You Need to Know about Refinancing Your Mortgage

Questions You Should Ask Your Real Estate Lawyer when Getting a Mortgage

If you’re thinking of buying or selling a home, make sure you talk to a skilled real estate lawyer. It doesn’t matter which side of the deal you’re on, an experienced mortgage lawyer in Toronto is invaluable.

A real estate lawyer can help you with all of the legal details associated with the transaction, including a title search, easements, zoning issues, the closing process, etc. But an experienced real estate lawyers can also go over other issues or concerns you might have.

Keep in mind, this is probably going to be the biggest transaction of your life, and you need to make sure you’re as informed and educated as possible. That’s why it’s imperative that you ask a closing lawyer any questions you might have.

Here are some questions you should ask your real estate lawyer when getting a mortgage in the Greater Toronto Area.

... Questions You Should Ask Your Real Estate Lawyer when Getting a Mortgage

Title Tips – It’s not what you make, it’s what you keep! – Is it time to set up your PREC?

Personal Real Estate Corporations (PREC)

Lawyers, doctors and dentists have long had the ability to incorporate for tax purposes. Finally, Tax Fairness for Ontario agents has come about with the passing of Bill 145, Trust in Real Estate Services Act, 2019, bringing long overdue Tax Fairness for Ontario real estate agents by allowing them to incorporate a Personal Real Estate Corporation (PREC) and enjoy the benefits of low corporate income tax rates.

ADVANTAGES  OF INCORPORATION: 1. Lower corporate income tax rates. 2. Wealth creation through tax deferral. 3. Lower effective personal tax. 4. Income splitting opportunities

... Title Tips – It’s not what you make, it’s what you keep! – Is it time to set up your PREC?

What Are the Characteristics of a Good Real Estate Lawyer?

Thanks to the Internet, it’s easier than ever to find a real estate lawyer in Toronto. Unfortunately, quantity does not translate into quality. That can make finding a good real estate lawyer in Toronto very difficult. Which can be disconcerting for those looking to close on the biggest financial transaction of their life. Many homebuyers looking for a real estate lawyer focus exclusively on price. And while the cost of a real estate lawyer is definitely something to take into consideration, it shouldn’t be the only thing you focus on. Below are some of the top qualities and traits that the most successful real estate lawyers in Toronto share. ... What Are the Characteristics of a Good Real Estate Lawyer?

Most Common Real Estate Title Transfer Problems

Finding your dream home is a milestone. But that doesn’t mean the home buying process is over. A common question we field is whether or not a property buyer should purchase title insurance. Title insurance is a form of insurance used to insure the buyer and their lender against loss or damage as a result of title defects. ... Most Common Real Estate Title Transfer Problems

Important Questions to Ask Before Closing on a Home

Searching for your dream home is exciting; finding the right neighbourhood, imagining where your furniture would go, having friends over, deciding if you’ll plant a garden. Actually, closing on the sale of the home, though—that can be stressful. This is the final decision in the home buying process, when money changes hands, you get the keys to your property, and take on all that extra responsibility.

Most of us don’t go through the home buying process very often, so it’s tough to rely on any past experience. That’s why it’s important to ask a lot of questions and understand what you’re signing and taking on. In fact, it’s essential. After all, you can never be too well-informed.

Here are some important questions your should ask before closing in Toronto.

... Important Questions to Ask Before Closing on a Home

How Lawyers Are Closing on Real Estate during the Coronavirus Pandemic

While it was thought that selling houses during the COVID-19 pandemic would have been a big challenge, and it was at the beginning, statistics have shown that the market is actually busier than it has ever been in certain circumstances. This is because demand for real estate is strong, interest rates are low, and many people have managed to keep their jobs during the pandemic. As such many transactions are being closed regularly and we are happy to advise that our procedures and systems, such as many of those across the industry, have been changed to allow the market to continue in its strength. ... How Lawyers Are Closing on Real Estate during the Coronavirus Pandemic

Home Selling Myths Debunked

If you’re a homeowner wondering whether it is worth selling your home, there are probably quite a few misconceptions about selling your house that you’ve heard. So, to keep you on track with the truths and myths about selling your house, here are the top home selling myths debunked. ... Home Selling Myths Debunked

Role of Condo Lawyer When Buying a Condominium in Toronto

Does a buyer need a lawyer? If you’re considering buying a house or condo in Toronto, you will need a real estate lawyer to help you through the process. What does a lawyer do when you’re buying a condo? Their primary responsibility is to protect your rights and make sure all the terms of the purchase and sale are met by the seller, so that you can obtain the title to the property. Here’s a more in-depth breakdown of what a condo lawyer does while buying a condominium in Toronto. ... Role of Condo Lawyer When Buying a Condominium in Toronto

9 Hidden Costs of Selling a House

So, you’ve decided to sell your home—congratulations! Whether you’ve chosen to upgrade to a larger home or downsize to a smaller, cozier property, selling your home is a big deal. Working with the right real estate agent and real estate lawyer can help make this exciting process as stress-free and smooth as possible; they can also help you prepare for all the necessary fees, especially the hidden costs of selling a house. How much does it actually cost to sell your home and what fees should you prepare for? Keep reading as we break down some of the hidden costs of selling a house. ... 9 Hidden Costs of Selling a House

Everything You Need to Know about Status Certificates

If you’re currently looking to purchase a new condo, it’s important to do your research as well as to work with an experienced real estate lawyer. The last thing you want to do is purchase a condo on a whim and later find out that there are maintenance fees or regulations you weren’t aware of. So, how do you ensure that you have all the important information you need about your prospective new home before you sign on the dotted line? That’s where a condo status certificate can help. You’ve likely heard the term “status certificate” before, but what exactly is a status certificate and why is a status certificate important? Here’s what you need to know about this invaluable document and the purpose of getting a status certificate. ... Everything You Need to Know about Status Certificates

Things to Consider Before Opting for a Mortgage Deferral

Over the last few months, there has been a lot of uncertainty surrounding the COVID-19 pandemic and the economy. Millions of people lost their jobs, businesses were forced to shut down, and Canadians coast to coast were required to isolate and social-distance. While the pandemic has certainly taken a toll on our social lives and on the economy as a whole, it’s also forced many homeowners to question whether they will be able to pay their mortgage. Luckily, the five largest banks in Canada—Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC)—have stepped up to offer mortgage deferrals in Toronto and across Canada. What is a mortgage deferral? And does a mortgage deferral hurt your credit? Here’s what you need to know about this new form of financial assistance from lenders and whether it’s the right move for you and your family. ... Things to Consider Before Opting for a Mortgage Deferral