Chattels and Fixtures What are they If you are thinking of buying by fanzhongqing


									                                     Chattels and Fixtures: What are they?
If you are thinking of buying, they are the window coverings, light fixtures, ceiling fans, etc. that are there at the time of
showing, unless it is stated specifically in the listing that they will be changed of are not included. Some sellers include
such items “chattels”—such as drapes and appliances—to be a selling feature or extra incentive for buyers.

Chattels are things that can be removed from a property because they are not attached to the walls or property.

Fixtures are things that are attached to the property—things like light sockets, a hot tub or electric wall heaters.

The law is not always crystal clear about what is considered a fixture, but Gary Klassen will help you decide and clarify
what is to be included in the purchase of your home.
                                            DEDUCTING YOUR MOVE
Generally, you can claim moving expenses if the move meets the following criteria:

       You have moved within Canada because the location of your business or employment has changed.
       The distance between your new residence and your new work location is at least 40 kilometers less than the
        distance from your old residence and the new work location. Revenue Canada previously measured the 40
        kilometers distance “as the crow flies” but the Courts have stated that it is to be measured using the shortest
        normal route available to the travelling public.
       The expenses were not paid on your behalf by your employer.
       You include in your income any reimbursement or allowance received in respect of the moving expenses.

Students may also apply moving expenses against income, including scholarships and bursaries, in excess of the $500
exempt amount, and research grants.

Moving Expenses Include:

       Reasonable travel costs, including meals and lodging for the members of your household.
       The costs of selling the former residence, including legal fees, advertising costs and real estate commissions.
        Penalties for cancelling a lease or discharging a mortgage may also be claimed.
       Transportation, and related storage, costs for moving all household effects from one location to the other,
        including boats, cars, trailers, etc.
       The cost of temporary lodging near either the old residence or the new residence for a period not exceeding 15
       Where the old residence was sold, legal fees incurred as a result of the purchase of a new residence and any
        taxes, other than GST, paid on the transfer or registration of title to the new residence.

The moving expenses must be deducted in the year of the move but are limited to the income earned from employment
or carrying on business at the new location in that year. If the expenses exceed the amount deductible in the year of the
move, a deduction may be claimed for the excess in the immediately following year, but again this is limited to the
employment or business income earned in that year.
                                      Straight talk about...PRIVATE TRANSACTIONS

Most real estate transactions are negotiated through real estate agents, such as Gary Klassen. As such, they are
generally “standard” transactions by the time they get to the lawyers. This means that the contract (offer to purchase)
has been written up, conditions such as financing, etc. have been followed up and, in general, all is ready for the lawyer
to take care of the final closing and conveyance of title.

Private transactions are different. Someone else has to do the work that Gary would normally do. There is not magic
about this. The work doesn’t disappear. All that changes is who does the work. Generally, that “who” is either you or a
lawyer or both.

Generally, lawyers come into the picture when the seller and a buyer have found each other. That’s when the “what
happens now” starts. And what happens now is almost never as standard or easy as when Gary is involved. So if you
are going to go down the private transaction road, here’s the bumps you should prepare yourself for. Some people
handle these fairly well. Others do not. Some have bad experiences and almost everyone goes through some degree of
frustration that they did not anticipate. So think carefully before you proceed. Here’s a few “rules” to keep in mind.

Rule 1 – Lawyers are not realtors. Yes, they can write up an offer to purchase (and whatever you do, don’t think you can
do this properly on your own). What they CANNOT do, is return your telephone call within minutes (or sometimes even
the same day), or be available day or night to deal with an offer, or drop everything to check out an important detail,
etc.. The economics are obvious. At any time, a lawyer is working on 10, 20, 30 or more files than a realtor. As much as
we would like to, we simply cannot come close to providing you with the almost instant service and access that most
realtors can.

Rule 2 – Private transactions are filled with uncertainty. They never follow a set pattern. Who is writing the offer? How
is it being delivered Who is communicating what to the other party WHAT HAPPENS NOW! You explained it! We
forgot. Could someone just walk us through this.

Rule 3 – Lawyers work on time. Realtors work on commission. If we give you our time and advice on your private
transaction and it doesn’t finalize, you still pay us. You pay realtors only if the transaction goes through.

Rule 4,5,6 – We haven’t a clue about whether you’re getting a ”good deal”, we aren’t very good ‘salesmen’, we don’t
know which lender is offering what deal this week, we can’t tell you anything about the sales history of this house or
others like it, and so on.

Lawyers find that many private sellers or buyers start out with their “eyes wide shut”. We hope this has helped open
them a little. If you still wish to proceed privately, lawyers are prepared to put their experience of having handled more
than 30,000 real estate transactions since 1981 (including numerous private ones) to work for you.
                                          Buyers Agreements, Why use theme

    1. Gary can help you get pre-approved for your home loan by setting you up to meet reputable lenders.
    2. Gary will send you regular updates of homes that match your Home buying criteria. With this information, you
       can pick the homes you like and drive by them to decide if you want him to arrange a private showing so you can
       see the inside.
    3. Gary will use his Specialized Knowledge to ensure you get the best home for the best possible price. He will
       discuss strategy with you regarding offer price, financing terms, possession date, etc. He will help you prepare
       the offer, present it on your behalf, and then negotiate in your best interest.
    4. Gary will continue to serve your needs even after you have purchased a home by showing you where to find the
       best services, such as legal expertise, home inspection, survey, movers, etc.

                                    IN RETURN FOR HIS SERVICES, YOU WILL AGREE:

    1. To make your house hunting process easy by obtaining written pre-approval.
    2. To allow his to represent you whenever you see a home that you want to view. This means that you will let him
       know when you are ready to view any home(s), and advise all other agents, and “For Sale by Owners” that he is
       your agent. If you want to make an offer, you will do so through Gary.
    3. To give Gary six months, for the commencement of this process, to represent you as your agent. Because the
       Seller or builder pays our fee, you don’t pay Gary anything for all the services he has outlined above, and you’re
       under no obligation to buy or build a home.

                                              CANCELLATION GUARANTEE

If you’re not completely satisfied with his service as promised, you can cancel your agreement with him. He is so
confident that his real estate system will work for you, that Gary guarantees you the right to cancel your buyers
agreement at any time prior to accepting an offer to purchase a home, with no obligation, if you feel his service doesn’t
live up to his promise.

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