Ontario house hits the market as two halves. This is how it works

  • 📰 CP24
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 67%

Business News News

Business Business Latest News,Business Business Headlines

Looking to go all-in and purchase a home in Ontario but can’t quite afford the hefty price tag that comes with it? A home that just hit the market in the Greater Toronto and Hamilton Area (GTHA) could be what you’re after -- even if it’s just half a property.

Real estate broker Bob Van de Vrande said he came up with the idea to sell the four-bedroom farmhouse-style home in Lynden, Ont. as two parts after he listed the property back in May for roughly $1.5 million.

“I thought, maybe there are people who are looking in the 600s or 700s and would be interested but they have to sacrifice a bit by doing it jointly with someone else.” Both parties would get a chance to meet each other before signing off on what’s called a co-ownership agreement drafted by a lawyer, which spells out who is responsible for what aspects of the property, how decisions are made, and -- most importantly -- what happens if one party wants out of the arrangement.As for the types of people he sees living in the home, Van de Vrande said the property is “ideally suited” for two families.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

What about...oh idk a duplex? Fucking hell

Disaster waiting to happen. Hope no one goes for it

Want to make housing more accessible? Pause immigration. All this does is help speculators...

I've co-owned with family in the past and that was a nightmare. No thanks. Realtors just have to face the facts that their juicy commission fees are gonna thin out real soon if not already.

No one should have to co own a house with strangers to afford a house... this just proves house prices are out of control and the government needs to stop the outrageous prices

This will end well…🧐

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Survey: Pandemic’s changes to travel and other business practices appear permanentMore than half of British Columbians feel good about their current working arrangements.
Source: PGCitizen - 🏆 65. / 51 Read more »