The page you are looking for is temporarily unavailable.
Please try again later

Money How well do you know homes? Take our real estate quiz

23:14  07 may  2018
23:14  07 may  2018 Source:   msn.com

Fire on Tsuut'ina First Nation prompts evacuation of Calgary homes

  Fire on Tsuut'ina First Nation prompts evacuation of Calgary homes A grass fire on the Tsuut'ina First Nation near the Grey Eagle Casino prompted the evacuation of homes in the southwest Calgary community of Lakeview on Saturday evening. The Calgary Fire Department said a slow-moving grass fire was headed east toward 37th Street, near 61st Avenue S.W., prompting the precautionary evacuation order shortly before 8 p.m. Homes were not believed to be in danger, but the evacuation was due to the large amount of smoke blowing east across the road. A portion of 37th Street S.W. was also shut down to respond to the blaze. The number of residents impacted was not immediately available.

Home u.s. Edition. Finance. Health Care. Real Estate . Wealth. Take our quiz . The IRS expects more than 155 million returns to be filed this year. See where you stand on this 10 question test. Created with Sketch. How well do you know your 1040?

Before the fest, take our quiz . 403 Forbidden. Search New Orleans area home sales in our real estate transactions database.

You and your family buy a house, live in it and a year later you sell it making a profit. Do you have to pay taxes on the profit?

  How well do you know homes? Take our real estate quiz © Getty/wastesoul  

Yes, on all the profit

No, you lived in it

No, you sold it a year later

Yes, on half of the profit

Who is responsible for paying the condo fees in a condominium unit that is tenanted?

  How well do you know homes? Take our real estate quiz © Getty/Volodymyr Kyrylyuk  

The landlord

The tenant

The management company

The developer

Assuming location, age, size, and condition are very similar, which property would likely be most expensive?

  How well do you know homes? Take our real estate quiz © Getty/jnnault  

Condominium unit

Townhouse

Semi-detached house

Detached house

When is the land transfer tax due on a purchase-sale transaction?

  How well do you know homes? Take our real estate quiz © Getty/ jnnault  

With the home inspection

When the transaction closes

At the end of the year

When they sign the offer

Which is part of the closing costs (disbursements) when buying a home in Ontario?

  How well do you know homes? Take our real estate quiz © Getty/Worawee Meepian  

Capital gain tax

Realtor’s commission

Property staging

Legal fees

Do you need to pay HST when buying a property?

  How well do you know homes? Take our real estate quiz © Getty/boonchai wedmakawand  

Yes, on all properties

No, HST is never applicable

Yes, on new properties

Yes, on resale properties

What is typically the minimum down payment you can give for a $500,000 home in Ontario?

  How well do you know homes? Take our real estate quiz © Getty/VichienPetchmai  

5 per cent

20 per cent

35 per cent

50 per cent

Is the seller or buyer responsible for paying the land transfer tax in a purchase and sale transaction?

  How well do you know homes? Take our real estate quiz © Getty/ mediaphotos  

The seller

Buyer and seller

The buyer

The seller - in new developments

What is the approximate land transfer tax amount for a $1,000,000 Toronto property (including local taxes)?

  How well do you know homes? Take our real estate quiz © Getty/wutwhanfoto  

There is no land transfer tax

$3,000

Less than $3,000

More than $30,000

A house that is attached to another house by only a common wall in the middle is considered a...

  How well do you know homes? Take our real estate quiz © Getty/ewg3D  

Detached house

Semi-detached house

Condominium

Townhouse

Which of the following is not part of the GTA?

  How well do you know homes? Take our real estate quiz © Getty/espiegle  

Hamilton

Mississauga

Scarborough

Markham

What is a major difference between owning a condo townhome and owning a freehold townhome?

  How well do you know homes? Take our real estate quiz © Getty/OliverChilds  

Ownership of the land

Amenities and security

Building materials

Parking availability

You are selling your tenanted property. How much notice should you give the tenant to show the property to potential buyers?

  How well do you know homes? Take our real estate quiz © Getty/Klaus Vedfelt  

2 hours notice

24 hours notice

One week notice

No notice is required

You want to buy a property and the selling agent says that offers will be held next week. Can you submit an offer anyway?

  How well do you know homes? Take our real estate quiz © Getty/joakimbkk  

Yes, it’s a 'bully' offer

Only if your lawyer agrees

Only if your realtor agrees

No

You can buy a house directly from your neighbour, but for the closing you will likely need:

  How well do you know homes? Take our real estate quiz © Getty/bernardbodo  

A contractor

An agent

A lawyer

An insurance broker

The land transfer tax in a purchase-sale transaction will be lower if you are:

  How well do you know homes? Take our real estate quiz © Getty/Westend61  

A lawyer

A millionaire

A realtor

A first time home buyer

Right before closing, can you take the dining room chandelier?

  How well do you know homes? Take our real estate quiz © Getty/TerryJ  

Yes, wasn’t included

Yes, it’s personal

No. it’s a fixture

No. It’s a chattel

Mortgage rules hit Calgary housing market with 'collateral damage': CREA .
Housing sales in Canada were down significantly this year, and Calgary was one of the cities leading the drop, according to a new report from the Canadian Real Estate Association (CREA). "This year's new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador," said Gregory Klump, CREA's chief economist, in a release Tuesday."This is exactly the type of collateral damage that CREA warned the government about.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!