Eco-Friendly Cleaning Tips

Switching to green cleaning products not only positively impacts the environment, but it can also improve your family’s health. In today’s eco conscious culture, we have a substantial selection of eco-friendly cleaners to choose from. Why not give some a test run and if you’re really feeling adventurous, try your hand at making some homemade solutions.

These cost-effective ingredients are likely already in your kitchen and can be easily transformed into grime and grease fighters:

White vinegar – The high acidity level makes vinegar effective for killing mould, bacteria and germs. Use it to clean your dishwasher, coffee pot and to remove soap scum in the bathroom. Window cleaning with vinegar will make your windows gleam and leave them streak-free.

Baking soda – This inexpensive ingredient cuts grease, deodorizes, lifts dirt and whitens. Use it to combat food odours in the fridge, soak up the grease in your oven, clean hairbrushes and as a solution to prevent your drains from clogging up.

Lemon juice – Known for its bleaching properties and its ability to work as a natural disinfectant, use lemon juice to clean your cutting board, disinfect the inside of your microwave and clean hard water stains on glass shower doors.

Olive oil – This little gem is best known as a natural wood polish, but consider these other uses: combine with salt to clean your cast-iron pans, pour onto a cloth to shine your stainless steel, or massage a small amount into your leather furniture to help repair scratches.

Salt - An excellent cleaning agent, either on its own or in combination with other natural ingredients. Rub in some salt to remove stubborn tea or coffee stains on cups, or restore your sponges by soaking them in cold saltwater after washing them.

For more homemade cleaning suggestions, visit the David Suzuki Foundation website where you can download a handy reference sheet on how to whip up green cleaning solutions like laundry soap, all-purpose cleaner, furniture polish, glass cleaner and stainless steel cleaner. www.davidsuzuki.org

If making homemade eco-friendly products isn’t your cup of tea, be sure to check out some of these popular green-cleaning brands at your local retailer:

·         Simply Clean 

·         Citra-Solv

·         Seventh Generation

·         Nature Clean

·         Ecover

·         Method

·         Soak

When choosing a cleaning product, it’s best to go fragrance-free since the fragrance can trigger allergies and asthma. It’s also best to avoid dyes because most dyes are derived from chemicals. 

Bridge financing can ease closing day stress

Mark Weisleder

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart.

When a bank pulled the financing from one buyer at the last minute, it caused all the deals to fall apart because each one was contingent on the previous seller getting the money to close their own sale. This is what real estate lawyers refer to as a train wreck.

If bridge financing had been used, it is likely that this could have all been avoided. In a typical bridge situation, the buyer closes their purchase a few days before their sale. They go to their bank and ask for a loan, to pay for the entire purchase, with the understanding they will repay the loan as soon as their sale closes. The interest is usually prime plus 3 or 4 per cent per day. By closing a few days early, the interest cost is typically $100 to $200.

One of the benefits of closing a few days early is that you can slowly move into your new home. I have heard plenty of stories where buyers are moving out and moving in on the same day and while they are packed up at 1 p.m., they cannot get into the new home until after 6 p.m., resulting in additional moving costs, since you typically pay by the hour.

In my client’s situation, we were fortunate to be able to extend their purchase agreement because our seller did not need the money on closing to buy another property. Still, the sellers could have cancelled the contract and sued for the deposit and any losses that they may have incurred in any resale of the home. In order to extend the closing, my clients had to pay interest on the money owed to the seller during the period of the extension. They also had to pay extra moving and storage costs because their furniture had already been picked up from their home when they found out that the deals could not close.

You might wonder how a lender can cancel a loan at the last minute. You would be surprised how often this happens. When a buyer is pre-approved for financing, or even given a commitment from a lender on a specific purchase, it is still conditional on the buyer satisfying all of the lender’s conditions before the closing. This could include providing proof of income, employment letters, as well as proof that they have the entire down payment from their own resources, and are not receiving it from third parties. If there is any suspicion on the part of the lender that their conditions have not been properly satisfied, they have the right to cancel the loan, even at the last minute.

If you are considering selling and buying on the same day, first ask your seller whether they need the money to buy another property. Ask the same question of the person buying your home. If the answer to either question is yes, consider closing your purchase a few days earlier and obtaining bridge financing so that you do not become involved in your own train wreck.

Buying and selling on the same day is normally a stressful experience even if it all works out, but by taking extra precaution, you can avoid unwelcome surprises later, provided that everyone is properly prepared in advance.

www.teambluesky.ca

Rent-to-own works....but

by Mark Weisleder

The concept of rent-to-own can be a very effective way for a home buyer who does not have enough of a down payment, or the right credit score, to buy a home. It allows you to make the purchase over time at a set price.

But you have to be careful. Without due diligence, problems can occur for everyone involved.

In a typical rent-to-own arrangement, the owner and tenant sign an Option to Purchase agreement, where, for a fee, the tenant acquires the right to buy the home two or three years later, at a set price. The fee is usually 2 to 2.5 per cent of the purchase price. The tenant pays the rent each month, plus another amount towards the down payment.

Ideally, this comes up to 5 per cent of the purchase price by the end of the contract. Hopefully, by then the tenant has improved his credit score and qualifies for an insured CMHC mortgage, and the deal closes. A benefit for the landlord is that most tenants who have this option will take better care of the home, since they expect to become the owners.

Problems can arise when a middle man offers to get between the home owner and the rent-to-own tenant. The middle man offers to manage the arrangement for the owner for a fee and may also guarantee the owner a sale if the tenant doesn’t buy it.

If the middle man is a scam artist, he disappears with the fee leaving the home owner and tenant wondering who owes what to whom and their rights.

An Ottawa company is facing lawsuits from tenants, owners, lenders, investors and contractors involving a rent to own business.

Golden Oaks Enterprises, and its owner, Jean-Claude Lacasse, acquired 48 properties in the Ottawa region using the rent to own method. As reported by CBC, in one case, Golden Oaks agreed to buy a home but couldn’t find a tenant and backed out of the deal. The seller had already purchased another home and then had to carry two homes.

In another case, a tenant who made the down payment was evicted when an investor with a second mortgage took over the property. Meanwhile, investors put money into Golden Oaks after being promised a 30 per cent return by investing in rent to own properties.

The allegations have not yet been proven in court, but a receiver has been appointed to administer Golden Oaks affairs and it appears most of the investors will lose everything. Lacasse‘s own home is up for sale as well.

Many tenants who cannot qualify for a mortgage might be excellent candidates for a rent to own contract. But they should remember these arrangements require the same due diligence and protections as any real estate contract, to avoid problems later.

Here are some suggestions:

•Any deposit sum paid towards the final purchase price by the tenant should be held in trust, similar to a normal real estate deal. It should not be paid to the landlord or a third party, until the deal closes or terminates.

•Do your homework. For a small fee, go to the county registry office and get a copy of the owner’s title records, showing who actually owns the property and the amount of any mortgages registered against title. Now you know you are dealing with the correct owner. You should also ask for a mortgage statement showing how much is owing on the property.

•Register the lease and option agreement against title. This will protect the tenant from future dealings by the owner with the property. In most cases, the tenant will have to pay land transfer tax in order to do this, but it should not be more than $100, so long as the option agreement is kept separate from the lease, since land transfer tax is only payable on the price paid for the option, not the final purchase price.

Or just use a lawyer to protect everyone involved by doing the proper due diligence in advance.

Be suspicious of a middle man who wants to buy an option on your home. Rent-to-own can work for landlords and tenants, if everyone is properly prepared before signing anything.

www.teambluesky.ca

Still a seller's market locally, realtors in Hamilton-Burlington say

courtesy of The Spec

It's still a seller's market locally, according to numbers released Wednesday by the Realtors Association of Hamilton-Burlington.

There were 1,288 sales in the region in July, up 3.9 per cent over July 2012. The average sale price grew 10.7 per cent over the period to $387,108.

"We are still experiencing a seller's market in our market area," said RAHB CEO Ross Godsoe. "We thought earlier in the year we might see a more balanced market by this point, but that hasn't been the case."

Listings were up 5.4 per cent year over year, to 1,852. End-of-month inventory is 3.3 per cent lower than last year.

On a seasonally adjusted basis, which removes the normal variations of seasons, sales were down 0.6 per cent compared to July last year, and 4.5 per cent and 4.6 per cent compared to June and May of this year.

The seasonally adjusted sale price grew 12.5 per cent over July last year.

According to the data, freehold sales were up 5.7 per cent while condos sales were flat.

Commercial listings were up 20.1 per cent over July 2012 but sales were off 8.9 per cent.

During the year so far, listings are down less than one per cent over last year and sales are down 2.4 per cent. Average sale price is up 8.1 per cent.

www.teambluesky.ca