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Buying a home? CMHC could soon kick in 10% of the cost - for a price...

  • By Sue Aitken
  • Posted Friday, Mar 29, 2019 1:28 pm

Buying a home? CMHC could soon kick in 10% of the cost - for a price...

TORONTO -- Ontario home buyers may soon be able to find out the prices and conditions of other offers in bidding wars.

The government launched a consultation Thursday looking at the Real Estate and Business Brokers Act, and that's one rule they're looking at changing. Currently, if there are multiple bids on a home, the seller's broker can only disclose the number of competing offers, but not the details of them.

Through this method in a hot housing market, buyers often can blindly offer more than what they initially planned on spending in hopes of beating their competitor ... [READ MORE]

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