The Well Kept Secret Behind the New Four Seasons Hotel, Yorkville

 As the construction nears completion this fall and occupants of the Four Seasons Hotel and Private Residences start to move in, the residents of 40 Scollard St directly behind the Four Seasons are grateful they purchased their condo unit a while back. Granted there are no hotel services available at 40 Scollard but the location is identical. The purchasers who bought on the north side of The Four Season’s Residences are facing 40 Scollard and the residences living on the south side of 40 Scollard are facing The Four Season’s in other words ‘no view” no matter which building you live in up to the 16th floor. The Four Seasons Residences have sold in the range of $1,200 and $1,800 per sq. ft. whereas a one bedroom in 40 Scollard recently sold for $353,000 approx.  $500 per sq. ft.

So, if your'e ok without the hotel services and amenities of “The Four Seasons Hotel and are willing to settle for a little suite updating, a concierge, gym, sauna and squash court then, let me know and I will find you a suite at 40 Scollard St.

Please visit my You Tube Channel for my “Toronto Neighbourhood Tour of Yorkville and some home prices. 

You Tube Channel http://www.youtube.com/user/evagil31?ob=0&feature=results_main

Eva Bonomolo, Gossip Real Estate

• The Toronto Real Estate Board and it’s realtors are trying to maintain the professional status and privacy of MLS. A recent poll shows 75% of Ontarians believe that personal information such as name, final sale price and mortgage information should be kept confidential by REALTOR® professionals. Commissioner Aitken of the Competition Bureau wants to release this information publically on the internet.

What is your opinion?

Please visit http://protectyourprivacy.ca/

Gossip Real Estate, Eva Bonomolo

Buying a Newly Constructed Condo in Toronto? The Developer's Agreement of Purchase & Sale Must Be Reviewed By a Lawyer

Please take the Developer’s Agreement of Purchase and Sale and Disclosure Statement to your Lawyer for Review within the 10 day rescission period.

Just A few Questions to ask your lawyer regarding the agreement;

• How is the parking structured and is it in the building? Will it be owned or exclusive use?
• Who decides which parking spot and locker room the buyer gets?
• Is the condominium covered by the Tarion Warranty Program?
• What is included in the purchase price?
• Is the HST included in the purchase Price? Does the buyer qualify for the rebate?
• What additional costs does the buyer have to pay? For Example;
• Tarion Enrolment Fee,
• Utility Meters and Connection Charges
• Development Charges
• Tree Planting
• Park Levies
• Cost of Status Certificate
• Law Society Levy
• Developer’s Lawyer’s legal fees for administering deposits, for obtaining partial discharges of mortgages and Common Expenses as a Reserve Fund Contribution
• Is there a lease re HVAC or hot water tank?
• What is the occupancy closing date and procedure? And, what is the outside occupancy date?
• What are the developer’s rights to extend the closing date?.
• When do you pay for the upgrades?.
• Where is the clause explaining altering, square footage, features and materials? How is the area measured?
• What is a Pre-Delivery Inspection Procedure?
• What is included in the common expenses?
• What is the permitted use?
•  When do the buyer`s obligations end?
• What remedies does a buyer have in the event of the developer`s default?
• Can the buyer assign or transfer the Agreement of Purchase & Sale before the final closing?
• Can the buyer lease out the unit before the final closing?

Eva Bonomolo, Gossip Real Estate

Ready for Condo Living,

No More Snow Shovelling,

No more Leaf Blowing,

No more trying to clean out the garage in the spring,

No more trying to do handyman repair work around the house,

No more trapping the raccoons and squirrels from getting into the attic,

No more arguing with the neighbour about the trash blowing over onto your property,

No more trying to convince the neighbour to take care of the curb appeal of his property,

No more leaking roofs and

No more frozen pipes because you decided to spend one month in Mexico.

Just, step into a world of relaxation, take the elevator down to meet your personal trainer, and then release tension in the hot tub and retreat to your indoor swimming pool. Close your condo door, and fly away for your 6 month winter getaway, without a worry about your property.

 Welcome to your new lifestyle.

Regards, Eva Bonomolo

Gossip Real Estate

Yorkville Plaza, The Conversion of The Four Seasons Hotel

Yorkville Plaza the soon to be conversion of the old Four Seasons Hotel has been selling quietly for the past few months, especially the studio and one bedroom suites because there are so many throughout the building. Having just visited the presentation centre and learning that their is an application to build a phase 2 beside the existing Four Seasons structure, I realized phase 2 was the project to watch.

BeThe south tower (phase 2) could be as little as 16 metres between the existing tower and the new tower. Perhaps the archiects should go back to the drawing board. My guess is the existing Four Seasons building will have many units with obstructed views especially if the buildings are that close together. The best investment would be to purchase a suite from phase 2 with at least the corner south west views, looking towards the museum and Queen's Park.

The conversion will change the the entire Yorkville and Cumberland corner. Yorkville Plaza will feature a glass podium on the street level which rumor has it, has 3 world class restaurants, one from Los Angles, New York and Europe bidding for the street level space within the newly renovated building.  

Toronto is continuing the journey of holding on to the status of world class city.

Regards,

Gossip Real Estate, Eva Bonomolo

Psst! Gossip Real Estate

Brekland Realty Group of Mississauga, the Registrar of the Real Estate Council of Ontario (RECCO) issued an immediate suspension of registration of Brekland Realty Group. The suspension means that all real estate salespersons who are employed with Brekland Realy Group are currently unable to trade in real estate. RECCO has charged Brekland with failing to disburse trust funds in accordance with the terms of the trust account. It was revealed that a large sum of money was missing from the brokerage's trust account.

Caution! Always research the brokerage you will be working with. Make sure they are members of the Toronto Real Estate Board. Go to the office of the brokerage and check what kind of support administration staff they have. Have a meeting at the office with the agent and observe the level of professionalism in the office. Purchasing and selling a property has many financial and legal implications. Make sure your Brokerage has been in business for many years. Contact RECCO http://www.reco.on.ca/ and check for issues with brokerages and sales representative.

Eva Bonomolo, Sales Representative

 RECCO is responsible for administering REBBA 2002 on behalf of the provincial government. In order to trade in real estate in Ontario, brokers and salepersons must be registered with RECCO.