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For Sellers
For Buyers
Listings
Meet Our Team

Neighbourhoods
Testimonials
Blog
Get a Home Evaluation

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1678 Bloor Street West,
Toronto ON, M6P 1A9

COMING SOON! 📍8 Armadale Ave We’ve got a clas

COMING SOON!
📍8 Armadale Ave
We’ve got a classic detached family home coming up on the market soon! Here’s a sneak preview for you! 👀
Want more information about this home or to book a private showing?
Contact us!
𝙍𝙚𝙣𝙚𝙚 𝙋𝙧𝙤𝙪𝙡𝙭
Smith Proulx Real Estate Team
☎️ 416-826-4787
📧 info@smithproulx.ca
#swansea #comingsoon #swanseahome #torontorealestate #torontohomesforsale #torontorealtor #torontorealestateagent #westtoronto #westtorontorealestate #homeforsale

🎪Join us for a day of fun and excitement at the

🎪Join us for a day of fun and excitement at the Annette St. Public School Fun Fair.🎉🎈

We're proud sponsors of this worthwhile event. Come visit the Smith Proulx Team and Panda at our booth.🐼

Date: Sat, May 25th
Time: 11am - 3pm
Location: Annette St. Public School

Mark your calendars and get ready for exciting games, delicious treats, bouncy castles, face painting, musical jars and lots more.

We can't wait to see you there!🎠🍿🎪

#smithproulxteam #schoolfunfair #communityevents #funfairfun

𝙍𝙚𝙣𝙚𝙚 𝙋𝙧𝙤𝙪𝙡𝙭
Smith Proulx Real Estate Team
☎️ 416-826-4787
📧 info@smithproulx.ca

Estate sales bring unique financial nuances compar

Estate sales bring unique financial nuances compared to traditional real estate transactions. Key distinctions include:

Capital Gains Taxes: While both types of sales incur capital gains taxes, estate sales benefit from a reset to fair market value at the time of the original owner's passing, potentially reducing tax burdens significantly. Always consult with a tax advisor to navigate these specifics.

Estate Taxes and Inheritance Laws: These taxes apply to the total value of an estate above a certain threshold, affecting the final proceeds from a property sale. Inheritance laws also play a crucial role in asset distribution, essential knowledge for executors.

Additional Costs: Estate sales might involve probate fees, executor’s compensation, debt settlements, and ongoing property expenses while the estate is settled.

Understanding these differences ensures a smoother transaction and legal compliance.

Get the complete guide on our website (link in comments and bio)
#smithproulx #TorontRealEstate #estatesales

Estate sales involve a legal hurdle not present in

Estate sales involve a legal hurdle not present in typical real estate transactions: probate. Probate is a court-supervised process that validates the will, identifies and values all assets in the estate (including the property), settles any outstanding debts and taxes, and finally distributes the remaining assets to beneficiaries as outlined in the will. This process can be complex and time-consuming, with several key differences from a standard sale:

Executor’s Role: In an estate sale, the executor appointed in the will takes on the legal responsibility for overseeing the sale. This includes ensuring the property has a clear title, managing any repairs or maintenance needed before the sale, and handling all legal paperwork. A real estate agent experienced in estate sales can be invaluable in guiding the executor through this process.

Creditor Claims: Before the property can be sold, the probate process ensures all creditors of the estate have the opportunity to make claims against the estate’s assets. This can delay the sale if outstanding debts are significant.

Court Approval: Depending on the complexity of the estate and local laws, court approval might be required for the sale, adding another layer to the legal process.

In contrast, a regular real estate transaction involves a simpler legal process. The seller (or their authorized agent) holds the clear title to the property, and there are no outstanding claims or debts associated with the property itself. The focus is on transferring the title from the seller to the buyer once a purchase agreement is reached.

Get the complete guide on our website (link in comments and bio)
#smithproulx #TorontRealEstate #estatesales

JUST LISTED! 📍4 Markhall Ave An attractively re

JUST LISTED!
📍4 Markhall Ave
An attractively renovated bungalow situated on a 40x125 foot lot!
✔️ 3+1 Bedrooms
✔️ 3 Full Bathrooms
✔️ Attached garage with parking for 5 cars
✔️ Finished basement with tons of storage
✔️ 2 backyards! One large deck off the living room and another backyard with green space and a deck on the other side of the house!
✔️ Close to Sherway Mall, Coverdale Mall, easy access to the airport and downtown as well as the lakefront!

Want more information or to book a private showing?
Contact us!
𝙍𝙚𝙣𝙚𝙚 𝙋𝙧𝙤𝙪𝙡𝙭
Smith Proulx Real Estate Team
☎️ 416-826-4787
📧 info@smithproulx.ca

The term “estate sale” can sometimes cause con

The term “estate sale” can sometimes cause confusion. It’s important to distinguish between estate sales that focus on selling the property itself and content sales that deal with selling the personal belongings within the property.

Estate Sales (Property):

An estate sale, in the context of real estate, is the process of selling a property that is part of an estate, typically after the passing of a loved one. The executor of the estate, appointed in the will, oversees the sale to settle financial obligations and distribute proceeds according to the will’s direction.

The primary objective is to sell the real estate itself, including the land and the structure. The property may be in its current condition or may require some repairs or renovations before being listed for sale.

Content Sales (Personal Belongings):

A content sale, also known as an estate sale or household sale, focuses on selling the personal belongings found within a property. These sales are often conducted by professional estate sale companies who handle the entire process, from appraising and organizing the items to marketing and conducting the sale itself.

The primary objective is to liquidate the personal possessions within the property, such as furniture, appliances, artwork, clothing, and collectibles. This allows the estate to convert these items into cash while potentially finding new homes for cherished belongings.

Get the complete guide on our website (link in comments and bio)
#smithproulx #TorontRealEstate #estatesales

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