Investing in an income suite: Q&A with HGTV’s Lisa Colalillo

If you’ve been following our blog you already know that we’re huge HGTV fans.  Remember our PARA Blog Crew submission video??  Yea….it’s a problem.  On any given day you can pretty much guarantee there’s an episode of one of HGTV Canada’s many awesome shows providing the soundtrack to our household.

One show in particular that we’ve been enjoying in this season’s lineup is Critical Listing.  If you’re not familiar with the show, you really should get familiar! Read more

Closing day: Take 2

Every cloud has a silver lining…

As you know, our closing got delayed by one day. Boo right?  We thought so too.  The upside however, is that because of that ONE seemingly insignificant day, our first mortgage payment has now been delayed by ONE MONTH! Woo hoo!!! I guess it’s true what they say – everything happens for a reason.  

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Closing day??

Well today was closing day.  Sort of.  At least it was supposed to be.  As it turns out, however there was an error in the mortgage paperwork that caused a delay in the final release of funds between the bank and our lawyer’s office.  Despite everyone’s feverish attempts to rectify things, ultimately the clock just ran out before the issue could be resolved.

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Done and done!

It’s been a while since we blogged, and lots to update you on.   Specifically what happened with the seller after the inspection…

Well of course – he was anything but reasonable.  Essentially our agent Mike went to him with our inspection report of what could potentially add up to $25,000 in repairs – and his response was “I won’t come down one more penny.” That said, we know that the renovation plans we have will address most, if not all of the issues the inspector raised.  But the bottom line is, ultimately we’re buying THIS house, in it’s present state, and regardless of our future plans for it we shouldn’t have to absorb all the cost of any repairs that it needs going in.

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Home Inspection

It’s been a busy couple of days.  We got all of the offer paperwork signed and finalized, made a quick trip in to the bank to pick up our pre-approval letter to satisfy our financing condition, then topped it off with a road trip to Ottawa to visit a friend and celebrate the Canada Day long weekend. It was our first time spending the holiday in the nation’s capital and we had a blast!  Definitely recommended if you’ve never experienced it before – so much to do and the fireworks on Parliament Hill were a spectacular end to the trip!

Now after a little much needed R&R, we’re back and down to fulfilling the final condition of our offer – the home inspection.

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