A recent listing in Toronto is offering a 25% interest in a home, being one storey in a three story house. This apparently is being done in Montreal and San Francisco. Please read the attached article, where I am quoted as to why I believe that this will be difficult to achieve. Besides the issues about repair costs and the fair splitting of property tax and utility bills, it will be extremely difficult for a buyer to get financing for this type of purchase.
Click here to read article: http://www.thestar.com/business/2013/07/25/selling_a_threestorey_victorianstyle_home_piece_by_piece.html
My Law Practice
I have received many inquiries about my law practice, providing legal services to real estate buyers, sellers and investors. Working with Real Property Transaction Centres, I am now able to close real estate transactions throughout the GTA. If you require any assistance on a transaction that you are working on, please email me at firstname.lastname@example.org
If you or your clients are looking for a written quote, please visit www.realproperty.ca and search under “How much does it cost” or contact Suzanne at 1-877- 219-9618, ext. 231.
About Mark Weisleder
Mark is a lawyer, author, instructor, Toronto Star columnist and keynote speaker for the real estate industry.