Anne Marie Lorusso, sales representative

The objective of this course, developed by OREA, is to inform, educate & provide for high standards of compliance & business ethics within the real estate profession. This seminar focuses exclusively on the sections contained in the Code.

• Have an understanding of the major changes to the practice or real estate;
• Be able to apply the legal, moral & ethical principles applicable to the real estate profession;
• Understand how to apply the Code in the day-to-day procedures;
• See how the Code has impacted the Standard Forms;
• Be able to describe your duties, obligations & responsibilities to clients, customers & other registrants

With the significant demand in pre-construction residential condominiums, clients are seeking the advice and assistance of their real estate sales representatives. These transactions raise many unique and challenging issues that salespeople must be cognizant of including the following:

• Different Types of Condominiums
• Pre-Construction Agreements of Purchase & Sale
• Developer’s Disclosure Statement
• 10 Day Cancellation Period
• Deposits & Interest on Deposits
• Occupancy Closings
• Final Closings
• GST & PST Rebates.

The objectives of this course are to understand:

1. Your rights in determining boundary and fence line issues between two  neighbours;
2. The impact of the conversion of lands into the Land Titles system on the legal concepts of adverse possession and easements by prescription;
3. The differences between a PIN Search and a GeoWarehouse Search.

By the end of this session you will:

• Learn about the Road Access Act, and how there may be rights of access when it appears that your property is landlocked;
• Understand what your rights are under the Line Fences Act with respect to boundary issues, when neighbours are disputing what kind of fence should be built on the property line;
• Learn what the conversion of property into Land Titles means and in particular, the difference between an Absolute Title and a Conversion Qualified title;
• Understand the case law on the requirements to prove adverse possession or easements by prescription;
• Know the difference between survey terminology and what constitutes a Real Property Surveyor’s Report;
• Learn who owns trees on or near the boundary line and the rights regarding cutting branches that overhang onto your property, under the provisions of the Ontario Forestry Act;
• Understand what the words “more or less” means when errors are made in the legal description of your property; and
• Learn whether title insurance will solve any of these potential boundary issues after closing.

Second suites in homes are a vital economic asset to many homeowners. All too often they constitute an “underground” activity as owners are uncertain over zoning prohibitions, building and fire code concerns.

This seminar addresses three central questions:

• When can a seller advertise a second suite as lawful?
• Can a buyer be assured that an existing second suite won’t be subjected to municipal prosecution?
• When can an owner obtain a permit to install or retrofit an existing second suite?

In addition, the seminar addresses student “lodging” houses (rooming houses, boarding houses, fraternity houses) and the challenges faced by owners seeking to use their residences for this purpose.

• What constitutes a second suite? How does it differ from a “granny flat”? How does it differ from having members of an extended family or perhaps one or two renters living with the owner in a house? How does a second suite differ from having numerous (student) renters living in rooms in a house?
• What makes one second suite lawful, while another is unlawful? When might a second suite or a lodging house be “grandfathered” under the existing zoning? What steps can be taken to attempt to revise the zoning by-law so that the land use can be lawful?
• What impact do building and fire codes, electrical and municipal property standards by-laws have on second suites and lodging houses? Why do some municipalities maintain a register of second residential units? Will new licensing by-laws affect lodging houses?

My mother helped co-signed on the purchase of this duplexed house when I was 27 years old.  The house was purchased for $248 000 and carried for approximately $1300 per month plus $193 per month in taxes and utilities with the downstairs apartment paid their half of heat and hydro.

I lived on the second and third floor (a 3-bedroom apartment) with a friend while renting out the ground floor apartment for $1500 per month. 

About 4 years later, I borrowed against this house and bought the 50 Russell St house.  The house is now rented out completely at $2600 for the upstairs apartment and $2200 for the ground floor apartment for a total of $4800 per month. 

Open the actual listing by clicking this link: 33 Granby St 

Here are some pictures of this house: