Page 16 - Sports Energy News, Cornwall, Issue No 105

16 Issue #105 October 2021 www.sportsenergynews.com

Local Pr
ofessionals
Neighbourly
Neighbourly Advice From Our Local Professionals
Advice Fr
om Our

if you are aware of deficiencies, you are roofs, or anything else that you know
By Michael VanderMeer still under obligation to disclose. These has occurred or continues to occur that
Real Estate Agent
deficiencies do not include minor ones may not be found on a visual inspection.
that are visible upon inspection of a home. Failing to disclose a deficiency that you
DISCLOSURE - IT’S THE LAW The deficiencies that need to be disclosed are aware of could lead to litigation and
When selling a home, you must are ones not visible and a buyer would cost you thousands of dollars. Instead,
disclose any deficiencies that you are not have any way of knowing such as, if you disclose the fact up front then the
aware of. Some people think that if you but not limited to, leaky basements, past buyer has a choice to buy the home “AS
are selling the home “AS IS” that they do problems that may have been corrected, IS” without any further repercussion to
not have to disclose known deficiencies. This is not the case - mold that is not visible, occasional leaky the seller.

some that are worth remembering when ridiculous and sometimes dangerous.
Max Ming P.Eng. CFP ® investing:
Financial Planner Hindsight shows that 1929, 1972, 1999,
1- Common sense is not so common. 2 and 2008 were not different, they were
Laws of Investing to Remember
- Greed often overcomes common sense, just the peak of their speculative frenzies.
Over the years we’ve referenced
historical lessons of investing, many of and greed kills. 3- Being right or wrong The next down-market cycle will come,
is not as important as how much you it is not a question of ‘if’ but ‘when’.
which are at the backbone of our guiding make when you are right and how much Successful investors can learn from past
principles and proven practices that have you lose when you are wrong. 4- Operate mistakes and capitalize on them for the
served our clients so well for over 25
only in your area of competence. 5- future.
years.
History is a great teacher. 6- In investing,
Seeing how the last 18 months have gone in the financial what is comfortable – especially at the So, when markets fall next, it will likely
markets, it is a good time to revisit them. Why? For investors, beginning – is most often not profitable not be different this time; but perhaps you
getting drawn into the speculative hot topic of the year under the will be different this time. Our team works
at the end. 7- Be patient and learn how to
assumption that ‘this time it’s different’, has never served well. alongside you to make sure you have the
sit on your hands. 8- Maintain a healthy
Earlier this year, investor Doug Kass wrote out his 50 ‘laws’ level of skepticism. Though doubt is knowledge and emotional discipline to be
of investing. While his ideas certainly are not new, there are uncomfortable, the feeling of certainty is successful.

By Brian Johnston • You are working with a mortgage reported? Percentage utilization can have a
Mortgage Specialist broker who is arranging a mortgage with significant impact on your personal credit
a B-lender for you. She tells you that your score. Equifax Canada states utilization has
FIVE TIPS TO INCREASE YOUR interest rate will be lower if your Equifax a 30% weighting on your personal credit
CREDIT SCORE QUICKLY Fico score is over 680. score. One scenario: maybe a furniture store
To qualify for certain mortgage and or a home improvement store offered you
And it’s not just about homeownership…
loan products, a minimum credit score is “don’t pay for one year.” The balance you
essential. Even if your score is sufficient • You are preparing your pitch to are carrying on this card might be relatively
to qualify, you might find the rates being prospective landlords. These days, that small, but if it’s at or over the actual card
offered will be lower than if you had a often includes your credit report. Your limit, this is dragging down your personal
chances will be better if your score is in the
higher credit score. credit score. Consider paying it off now!
700s or even 800s.
Having worked with thousands of personal credit histories over Another scenario: suppose you have three
• You want to apply for a personal line credit cards, each with a limit of $10,000.
the years, we have developed some strategies that sometimes give
you that much needed quick score boost - sort of like jumper cables of credit or a high-end personal credit card, And let’s say one card has a balance owing
but your score is too low. of $9,900 and the other two have zero
for credit! Here are a few scenarios this might help with:
1. Use The Optimal Utilization Strategy: balances. This might happen because you
• You are being pre-approved for a mortgage, but your bank or
When maximizing your personal credit are trying to earn rewards on one card, or
broker remark your score is too low and you don’t qualify. maybe you said yes to a balance transfer
score, you should look at your utilization
• You want to qualify for a mortgage AND a home equity line of of available credit for each individual credit promotional offer. Chances are your credit
credit (HELOC), but your lender says you need a higher score to facility. By this I mean what percentage of score is lower than if the usage was spread
get both. your available credit is the balance being Continued on page 17

With our 2021 “Just Homes Listing Program”, Homeowners will never pay more than

3 3/4%+ HST commission which includes full weekly local newspaper

Owned and Operated by M. Jean Cameron Real Estate Limited advertising until sold, internet promotion and even an open house program when needed.
Serving the Community since 1959
613-933-3283 The savings may not stop here. When we sell your home directly to a buyer
check us out on the web at: without another real estate brokerage involved in the sale, we further reduce our
www.soldsmart.ca
sandy@homesnet.ca commission to only 2% + HST
“Not intented to solicit properties already listed for sale”