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What's happening: 


Town of Erin

https://www.erin.ca/newsroom/news-releases/covid-19


Town of Halton Hills

https://www.letstalkhaltonhills.ca/


Town of Milton


Ontario

This Act of God is No Out:

Buyer’s remorse from COVID-19 is no excuse to back out of a home purchase.  See this very interesting Financial Post article

https://business.financialpost.com/real-estate/mortgages/if-you-bought-a-house-before-the-coronavirus-crisis-hit-dont-expect-force-majeure-to-save-you


Income Interruption Before Closing:

In light of the current environment related to COVID-19. Where a lender has been advised that a borrower with a previously approved application is experiencing income disruption due to COVID-19 and the borrower still wants to move ahead with the application, the mortgage insurer may proceed with its previous mortgage loan insurance approval… Note: “each application is treated on a case-by-case basis and that it is up to the lender to decide if the application may move ahead or not.”


Appraisal Stop-gap:

Lenders have announced that they will accept “Modified Full Appraisals.”  That’s when an exterior inspection of the property will be performed but an interior inspection is not taking place.  The appraiser will take photos of the interior from the outside (through windows), where possible.  The appraiser may use video chat tools (i.e. Facetime, Skype, Duo, etc.) and ask the homeowner to walkthrough the home.  Gather information about the property and characteristics via a phone interview with the homeowner and/or listing agent and provide current interior pictures of the property from the MLS, the homeowner or listing agent.

Refined List of Essential Businesses

Following advice from Ontario’s Chief Medical Officer of Health, on April 3, 2020, Ontario updated the list of essential businesses that can remain open.

By 11:59 p.m. Saturday, April 4, 2020, businesses that are not identified on this list must close their physical locations.


Click here for a full description of the essential workplaces

How to apply for the government's $25-billion CEBA business loan program

Here's everything you need to know about the Canada Emergency Business Account

 https://business.financialpost.com/news/fp-street/how-to-apply-for-the-governments-25-billion-ceba-business-loan-program


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