From the Mak Family…
This year, we celebrated the Chinese New Year with a large, hot pot dinner at home with family.
NTM is really growing up and we are so proud of how independent he has become: making his own lunches and biking to school by himself.
I’m sure he’ll make a lot of new friends both at school and with his soccer team!
House Sold Without Owner’s Consent
You may have heard about the recent couple who came back from overseas and found out that their house was sold without their knowledge!
Initially, there was scare-mongering from the Media, “If you go on vacation, you’d better have someone check on your home or else you might lose your house!”
Practically speaking, this was a professional, organized-crime group who targeted this house with fake ID’s and paid “actors” to pretend they were the owners.
I have the pleasure of interviewing Mary Nguyen, Account Manager for Chicago Title (Eastern Ontario) on January 31st to learn more about what title insurance protects and how to protect yourself as a homeowner.
A few interesting things I picked up at the last ZOOM meeting:
• Homeowners with NO mortgage are often targeted because the thieves don’t have to work around the banks
• Your title insurance often covers you for twice the amount of your purchase. So if you bought a home decades ago for $200k, you are covered for $400k but your house is now worth $1.5m.
• The reach of the groups is mind-boggling. The scammers may include: lawyers, realtors, mortgage agents, appraisers, tenants, relatives and even paid employees at the banks or the government!
Questions about your real estate situation?
Call me at (416) 276-4895.
JUST CLOSED
I was very excited to help an old friend, H, buy her first home!
We found a great house and offered a “fair” price based on similar houses in the neighbourhood. The Sellers thought it was a “low-ball” and we parted ways.
(It wasn’t a low-ball, but I don’t think they understood the current real estate environment)
A week later, the Sellers desperately wanted to re-open negotiations, but at that point, we already found another house that was better suited!
There are a lot of choices in the market now and I’m glad H wasn’t in a rush and eventually found an amazing home that works for her.
