Toronto buyers - Your real estate questons answered!

If I change my mind about particular elements after I have signed an agreement of purchase & sale, can I still amend anything?

Depending on the agreement of the sale whether modifications can be made. If there were conditions placed within the offer signed or a cooling off period then there is a chance modifications can be dealt with, otherwise it is up to you to negotiate with the seller. The law is on the side of the seller if your offer hasn't been accepted with conditions. At the end of the day both legal representatives may have to become involved. If this is the case, then you need to be aware any fees you have paid out, including your retainer, could be lost.

For Bloor West Village, how much more do homes with finished basements sell for compared to homes with an unfinished or partially finished basements.

Excellent question - that is of course based on a lot of different scenarios. As a finished basement can range from dug out professionally done, with bathroom, maybe kitchen, fully wired for sound/stereo, well fitted laundry, bedroom and separate side entrance, all the way to an old panelled room that is low ceiling height, potentially damp etc. A finished basement is often where family will stay when they visit or a place for a teenager to have some independence, therefore even if the room isn't high quality at a family neighbourhood such as Bloor West Village, it certainly is an advantage. There is a not an exact science or monetary value as it can vary

I've heard there are distinctive types of parking in relation to apartments, what are they?

You can purchase a parking space along with or completely separately from your apartment unit or even a property purchase, this is seen as owned parking. Subsequently once you have bought it, you can do what you want with the area and you can sell it. When you purchase and sometimes rent a condo, there is frequently parking reserved for your personal only while you own or rent it and is classed as exclusive parking Rental parking is occasionally available for condos that don't come with owned or exclusive parking - query this with the property manager! Some condos in Toronto are famous because of existing problems with parking pads

What would 80,000 is cash buy me in the GT area?

If you're using that amount as a down payment, contact a mortgage expert and they can help you with what you can afford. We are happy to suggest some Mortgage experts if you would like to call us directly.