Cash out 100% of your equity
without moving
out of your home.
SAVE YOUR KIDS
THE HEADACHE
– By Saskia Wijngaard
I recently experienced the pleasure that all Realtor® moms
have by helping their children find their first perfect starter
home. With my son and his wife being first-time home
buyers, and with market conditions changing rapidly,
they were worried about not being able to afford a home,
especially in downtown Toronto.
Hate the thought of moving? Sell your home
and lease it back! The perfect solution for
people who don’t want to pack and move.
Sell ‘n STAY – Safe, Simple, Private
alternative to the reverse mortgage
program, that allows you to “Age in Place.”
TM
No more property taxes, no more repair
issues, no more moving costs or headaches.
The perfect solution
when you love where you live.
Sell and Leaseback.
“Realtors for people who
don't want to move.”
THERESA BAIRD
[email protected] www.tbaird.com
BROKER
647-298-0997
SASKIA WIJNGAARD
www.sellnstay.com
SALES REPRESENTATIVE
647-216-4821
After months of looking, we found the perfect house: A
fixer-upper estate sale. It had 4 bedrooms and a huge lot in
a safe neighbourhood. They were very excited to find the
perfect fit for them. My son, being a Millennial, researched
all pertinent details online, even about the owner, who
had passed away on February 2017. The home was listed
in April 2017, with a notation about including a probate
clause, as all the details surrounding the estate were not
yet settled. On January 29th of this year, and after weeks
of negotiations, our “conditional” offer was accepted. The
process was exhausting as we had to deal with estate trustees
and multiple lawyers.
This became a very difficult transaction as the property
was registered under the seller’s married name, as well as two
adjacent properties – registered under her maiden name.
One of the adjacent lots was classed as a heritage property,
which she used as a 7-apartment rental. She shared ownership
of the other home with one of her sons. I discovered that
when you die, your land holdings bordering each other
amalgamate into one, which became a nightmare for the
lawyers who were attempting to separate the three lots.
The original land was severed in 1880 and again in 1958.
Those severances disappeared upon her death.
With no blue prints or records in Land Titles, began
the long process of dealing with city planners, architects,
lawyers, city clerks, heritage, severance and bi-laws. The
seller’s children had to hire an architect to recreate the
blueprints, while dealing with the numerous probate issues.
Eighteen months after the process began, the children
had to pay for probate, capital gains, property taxes, roof
repairs, raccoon removal, electricity, and additional legal
costs for all of these searches.
If a program such as Sell ‘n STAY™ would’ve been
implemented months before their mom’s death, the estate
would have saved the costs of probate, capital gains and
some of the taxes. They could have simply handed the keys
back to the landlord and cleared out the home – in this
case, they would have saved over $60,000 in unnecessary