A title search, also known as a property title search, is conducted on homes to retrieve important details before a real estate transaction is completed. These details could include things such as whether the seller is the legal owner of the property, what restrictions or allowances apply to the use of the land, what payments and taxes still remain on the property, and any previous financial transactions linked to the property. A title search is typically performed by a real estate lawyer on a... [read more]

The Home Buyers’ Plan (HBP) allows first-time homebuyers to withdraw up to $35,000 from their RRSP without having to pay taxes. Afterwards, buyers are expected to repay the funds that were withdrawn under this plan. However, they don’t have to start repaying until 2 years after they took out the funds and up to 15 years to repay the full amount. First, find out what your account balance is and the amount owing by logging into your CRA account and selecting “Go to RRSP and... [read more]