Real Estate FAQ for Toronto and Muskoka Buyers and Sellers

These two get mixed up all the time. The deposit is a good faith payment, typically about 5% of the purchase price, delivered within 24 hours of your offer being accepted and held in a trust account. The down payment is your full up front contribution to the purchase. If you are putting 20% down, your 5% deposit counts toward it, and the remaining 15% is due on closing along with your mortgage funds.

In Ontario you pay a provincial land transfer tax on a marginal scale, and if you are buying in the City of Toronto you pay a second, municipal land transfer tax on top of it, calculated the same way. Together they can add up to a meaningful closing cost, so we factor them into your numbers from the start. First time buyers can qualify for a rebate of up to $4,000 on the provincial tax, and Toronto offers its own separate first time buyer rebate on the municipal portion, so ask early, since these need to be claimed properly to apply.

A pre approval, from a mortgage broker or lender, tells you your maximum purchase price, your likely monthly carrying costs, and the interest rate held for you, usually for 60 to 120 days. Just as important, it signals to sellers that you are a serious, qualified buyer, which matters a great deal once you are competing for the right property.

I build a full comparative market analysis using three data sets, homes currently for sale near you, homes that sold in the last 12 to 18 months, and homes that were listed but expired without selling. Sold prices are the strongest evidence of true market value, and I will walk you through the comps in person before we settle on a number together.

Yes, and it protects you as much as it protects the buyer. Sellers in Ontario are generally required to disclose known material facts, meaningful issues with the condition or legal status of the property, so buyers can make an informed decision. A clear, honest disclosure form also reduces your risk of a dispute after closing.

The main cost is commission, which we will confirm together and put in writing before you list. On top of that, most sellers budget for HST on the commission and, where it makes sense, staging or light preparation costs. I walk every seller through a full estimated net proceeds breakdown before you sign anything, so there are no surprises at closing.

In a lot of Muskoka and Ontario cottage country, a strip of land along the shoreline was historically reserved for road access and was never automatically part of the private lot beside it. That means a property can look like it reaches the water in photos while the dock, boathouse, or shoreline technically sits on land the owner does not hold clear title to. Before you make an offer on waterfront property, I make sure your lawyer has reviewed the survey, title, and any shore road allowance closure records, so there are no surprises later.

Yes, generally a more thorough one than a typical city home. Beyond the usual structure and systems, we are also looking closely at the septic system, the well and its water quality, the shoreline and any retaining structures, and whether the property is on a private or seasonal road. I coordinate inspectors who specialize in exactly this kind of property.

It can be. A true four season, fully winterized cottage with year round road access typically appeals to a wider pool of buyers and lenders, since it can be used and financed more like a primary residence. A three season property is not a problem to buy or sell, but it is worth understanding upfront, since it may affect financing options, insurance, and resale demand down the road.

They can involve a few extra steps. Lenders and insurers often ask more questions about septic systems, well water, flood risk, shoreline stability, and, as mentioned above, shore road allowances. None of this should scare you off a property you love, it simply means we build extra time into your conditions to confirm financing and insurance before the deal becomes firm.

Ask who maintains it, how it is funded, whether there is a formal road association, and what your share of the cost looks like each year. Some private roads are maintained informally by neighbours, others have a legal association with fees and bylaws. Either way, it is worth understanding before closing, not after your first winter.

Our roots are actually in Muskoka. Before CV Real Estate existed, our team spent over two decades managing some of cottage country’s most exceptional waterfront properties, from Muskoka to Georgian Bay, handling everything from maintenance and renovations to rental performance. That hands on experience with waterfront ownership is exactly what we bring to every Muskoka buyer and seller today.