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Ontario's Real Estate Regulation

The approaching height of summer brings a busy time for Ontario's real estate market. Ontario is providing information and resources to help protect all consumers when buying or selling a home. When buying or selling real estate property, being aware of all the 'do's and don't's' can help make an increasingly complex transaction less challenging.

Amongst the several things Ontarians should be aware of when buying or selling a property, include:

To help stay informed of what to know before purchasing or selling property, a good source of information is the Real Estate Council of Ontario. RECO has a dedicated Consumer Information section that provides helpful information about mortgage fraud, title fraud, marijuana grow houses and much more.

"Buying or selling a home is an important, emotional milestone in our lives. Real estate transactions have become increasingly complex, so we encourage all Ontario consumers to get the facts and protect themselves in any real estate transaction," said Ted McMeekin, Minister of Government and Consumer Services.

Before signing a representation agreement with your real estate broker or sales person, make sure you know how long the agreement will be in effect. RECO is responsible for regulating trade in real estate, in the public interest, on behalf of the Ministry of Government and Consumer Services.

Before you begin working with a real estate broker or salesperson, you should use the Real Estate Council of Ontario's (RECO) online search feature to confirm if he or she is registered.

The information available includes the registration status, the current expiry date of registration and regulatory activities related to the brokerage, broker or salesperson.

RECO's website, at www.reco.on.ca, includes a dedicated Consumer Information section, which provides consumer-focused information about mortgage fraud, title fraud, marijuana grow houses and much more.

If you have a general question or concern about the conduct of a broker or salesperson, you may contact the Office of the Registrar at 416-207-4800 or 1-800-245-6910.

June 2, 2008 in Real Estate Regulations | Permalink

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Comments

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Posted by: FCI Exchange | Nov 17, 2011 4:11:25 PM

A professional can guide someone the best. That's what I believe! I think people should be aware of everything where they are indulged into. Since, in case of real estates they are investing their maximum so, people must know the norms! Thanks!

Posted by: New York Properties for Sale | Jan 11, 2011 5:50:44 AM

brampton real estate

One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.

Posted by: torontohomeandhouse123 | Jun 11, 2010 5:07:05 AM

brampton real estate

One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.

Posted by: torontohomeandhouse123 | Jun 11, 2010 5:07:05 AM

brampton real estate

One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.

Posted by: torontohomeandhouse123 | Jun 11, 2010 5:07:04 AM

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