Thank you again to everyone who voted us the Readers Choice Platinum Award winner for the best law firm in Durham Region for 2011!

If you are a real estate agent, I encourage you to read the article below in the Toronto Star by Bob Aaron. As Bob perfectly puts it, “An Agent’s responsibility doesn’t end with advice.” In summary, a recent court case just added a significant amount of potential liability to an agent if that agent does review an inspection report with the purchaser in detail. The details of the article might surprise you, and frighten you at the same time.

http://www.yourhome.ca/homes/newsfeatures/regulations/article/1004375–aaron-agent-s-responsibility-doesn-t-end-with-advice

If the above link does not work, please copy and paste it into your browser.

I remember a wise and great person once told me:

“A verbal agreement isn’t worth the paper it is written on””

Never rely on verbal representations when completing an Agreement or considering an amendment to an Agreement of Purchase and Sale. Always get it in writing to avoid any confusion on closing.

Mark Woitzik is a Real Estate Lawyer in Whitby, and his practice is focused on Real Estate Law, Wills and Estates, and Corporate Law.

If you are selling your property, remember to advise your real estate agent and lawyer of any rental contracts that exist for your hot water tank, furnace, or any other chattel or fixture at the property. There are clauses that can be included in your agreement of purchase and sale that will ensure that the buyer of your property will be responsible for future rental payments of any rental items following closing. If you do not advise your real estate agent and lawyer you may be responsible for payments of rental items at the property following the closing of your sale.

Mark Woitzik is a Real Estate Lawyer in Whitby, and his practice is focused on Real Estate Law, Wills and Estates, and Corporate Law.

While doing a minor renovation at our house, we found the business section of the Globe and Mail from July 19, 1969 stuffed in one of the walls. Interestingly enough, one of the main articles was about interest rates on mortgages being increased to 7.5%. People who owned homes in the early 80′s will remember rates skyrocketing well past 15%.

Why is this relevant? Most people with a mortgage today have interest rates on their homes that are less than 5%, at historically low levels. These rates will eventually go up. People should be reminded of the prepayment options in their mortgage. Mortgage companies will usually allow you to prepay 10% to 20% of the balance owing without any penalties. It would be wise for people to take advantage of the prepayment options, because eventually, interest rates will rise. Making prepayments on your mortgage will make your mortgage payment more manageable if interest rates do rise in the future.

Mark Woitzik is a Real Estate Lawyer in Whitby, and his practice is focused on Real Estate Law, Wills and Estates, and Corporate Law.

Thank you to nexttree.ca for their assistance in updating our website. I have had many positive comments about the new design of our new site.

Mark Woitzik is a Real Estate Lawyer in Whitby, and his practice is focused on Real Estate Law, Wills and Estates, and Corporate Law.

For the past two years, we have been voted the gold-medal winner for the Oshawa Whitby This Week Reader’s Choice Awards for the best law firm in Durham Region. Thank you for all that voted for our office. We are committed to offering the best customer service possible. Call or e-mail if I can be of any assistance whatsoever.

Mark Woitzik is a Real Estate Lawyer in Whitby, and his practice is focused on Real Estate Law, Wills and Estates, and Corporate Law.