22.04.25
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What Is a Settlement Date?
You’ve found your dream home; now you’re eagerly waiting for the big day—settlement day! What is a settlement date? It’s the agreed-upon day when you pay the property’s purchase price in full, ownership transfers, the seller hands over the keys, and your homeownership journey truly begins. How Is the Settlement Date Decided? During the contract…
What Is a Reserve Price? A Buyer’s Guide
When you’re gearing up for an auction, one number holds the power to seal the deal—the reserve price. What is a reserve price at auction? It’s the lowest amount a seller will accept for their property at auction. If bidding doesn’t hit this figure, the property won’t sell, and the seller can negotiate with interested…
Reverse Mortgage Guide: Unlock Your Home’s Equity
Did you know your home could do much more for you in retirement than just giving you a roof over your head? With a reverse mortgage, you can tap into the equity in your home—the portion of its value you’ve paid off over the years—to fund your lifestyle, cover unexpected expenses, or enjoy greater financial…
What is Mortgage Protection Insurance?
You’ve just signed the papers for your dream home. You’re picturing family dinners in the kitchen, lazy Sundays in the backyard, and the joy of finally calling this space your own. But then a nagging thought creeps in…what happens if life takes an unexpected turn—an illness, an accident, or worse? How would your family keep…
Other Insights from Pherrus
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Understanding the Exchange of Contracts Process
A lot of real estate and legal jargon gets thrown around when buying a property. If you’re buying for the first time, it can be confusing and overwhelming. Have you heard your real estate agent mention the “exchange of contracts”? This is one of the most crucial steps in securing your new home. What is…
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Bridging Finance: Bridging the Gap With Pherrus
You’re house hunting, and then it happens: you find THE house. But your current home hasn’t sold yet! In no time, excitement turns to stress. Do you let go of the perfect house and hope another will come along? Or is there a solution that will allow you to buy this house without the cash…
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What You Need To Know About Total Reportable Fringe Benefits
Are you considering a job that offers more than just a salary? Perks like a company car or gym membership can make a job offer much more tempting! Before signing the contract, you must understand the Total Reportable Fringe Benefits Amount (TRFBA). While you don’t pay income tax directly on your TRFBA, it can impact…