The Department of National Defence (DND) provides comprehensive funding assistance to you in the purchase of a house when you are posted (provided that you are going to live in the house), however, these benefits are not payable if you are posted for a ‘tour of duty’ or ‘course of instruction’ for one year or less, unless your posting authority verifies that you will remain at the same place following the original tour of duty for a further period of more than one year.
Your choice of a Realtor is very important – select an experienced Realtor who is active in the area in which you are purchasing. Your House Hunting Trip is brief and you want to make sure that you find a house that will suit you and your family. The Lawyers at Gilmore and Gilmore know the realtors in the area surrounding CFB Borden (Angus, Alliston, Lisle, New Lowell, Barrie). If you are posted to Borden and do not know who to use as a realtor, we can assist you.
You should have your new house inspected by a qualified Home Inspector. Your new house represents a big investment – you will want to know if there are any problems with the house before you buy it. Make your Offer conditional on a satisfactory building inspection. If there are problems revealed by the inspection that you are not prepared to accept, you can terminate the deal. Alternatively, you can negotiate a reduction of the price to compensate you for costs that you will incur in repairing the house. The cost of your Home Inspection will be covered by IRP provided that the charge does not exceed the Tariff. If additional inspections (furnace inspection for example) are needed they may be paid for out of your Enhanced Core or Customized Funding Envelope.
Legal Fees (and expenses) are reimbursed provided that your lawyer does not charge more than the IRP Tariff. Brookfield Global Relocation Services (BGRS) can provide you with a list of the lawyers who have agreed to accept the Tariff fees. You can select one of these lawyers, or you can select any lawyer you wish. If you select a lawyer not on the list who charges more than the Tariff, you will have to pay the amount of the fees over the Tariff. The Lawyers List maintained by BGRS lists lawyers by their addresses. This does not mean that you have to select a lawyer whose name is on the list for the City in which you are buying. A lawyer whose name is on the list has agreed to the Tariff of fees in the Province in which your house is located.
If you decide to build a house at your new posting location (instead of buying a house), you will generally be reimbursed the same expenses that you would be reimbursed if you bought a home.
To be eligible for reimbursement of your Purchase expenses, you must purchase a home within two years of being posted. If you take the rental incentive ($1,000.00) you will not be entitled to be reimbursed for your Purchase expenses even if you buy a house within two years of being posted.
There are ‘costs’ that you might have to pay on closing that you are not entitled to be reimbursed for such as: property tax adjustment, oil adjustment, utilities etc.
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Feel free to contact us at any point for assistance or advice with respect to Real Estate law. We may be reached at 705.435.4339 or contact us via email .