FAQ Sections

Buying Process

Selling Process

Financing & Mortgages

Legal Requirements

Property Listings

Site Navigation

Customer Support

Frequently Asked Questions (FAQs)

Buying Process

How do I start the process of buying a property on Broko?
Create a free account, then search listings using filters like location, price, schools, property type and number of bedrooms. When you find a property you're interested in, you can request a showing or connect with a Broko Realty agent for help.
The documents required vary by location and property type but typically include proof of income, identification, a pre-approval letter for a mortgage (if applicable), and other financial documents. Working with a real estate agent or legal advisor can help ensure you have all necessary documents.
Besides the purchase price, budget for closing costs. These include Ontario land transfer tax (plus Toronto's municipal land transfer tax if you buy in Toronto), legal fees, title insurance, a home inspection, and adjustments for property taxes or utilities the seller has prepaid. Condo buyers should also budget for monthly condo fees. Closing costs are often 1.5% to 4% of the purchase price.
Yes, most property prices are negotiable. You can submit an offer below the asking price, but the seller may choose to accept, decline, or counter your offer. An experienced real estate agent can assist with negotiations to help you get the best possible price.
A home inspection is a professional evaluation of the property's condition. It helps identify any potential issues before purchasing, such as structural problems or repair needs. While not mandatory, it is highly recommended to avoid unexpected expenses after purchase.
It varies. Once your offer is accepted, closing is often 30 to 90 days later, depending on what you and the seller agree to.
You're not required to have one, but an agent can help you with pricing, offers, negotiation and paperwork. Broko can connect you with a Broko Realty agent. In Ontario, if you work with an agent, you'll sign a written buyer representation agreement first.
Most buyers make a down payment and take a mortgage from a bank or other lender for the rest. It's a good idea to get pre-approved before you start making offers so you know your budget.

Selling Process

Go to the Sell page and share some details about your property. A Broko Realty agent will contact you to talk about pricing, marketing and listing your home.
When listing your property, you’ll need to provide details like property type, location, square footage, number of bedrooms and bathrooms, amenities, and photos. A clear, accurate description helps attract the right buyers and speeds up the selling process.
Pricing is based on recent sales of similar homes nearby. Bestimate™ gives you an automated estimate to start with. It isn't an appraisal. A Broko Realty agent can prepare a comparative market analysis to help you set your price.
Common costs include real estate commission, legal fees, any repairs or staging, and, if you have a mortgage, any discharge fee or prepayment penalty charged by your lender.
Your Broko Realty agent handles inquiries from buyers and their agents, and arranges showings at times that work for you.
Properties are listed on Broko through Broko Realty Ltd., Brokerage. To list your property with us, you'll work with a Broko Realty agent, who will handle marketing, showings, offers and negotiation for you.
The time to sell a property can vary based on market conditions, property type, location, and pricing. On average, it may take a few weeks to several months. Proper marketing, competitive pricing, and well-staged listings can help shorten this timeframe.
Preparing your property involves cleaning, decluttering, and making any necessary repairs or improvements. Consider staging the space to make it look more appealing to buyers. High-quality photos and a clear description can also make a significant impact on your listing.
Your Broko Realty agent negotiates on your behalf and presents every offer to you. You decide whether to accept, reject or sign back an offer.
You and the buyer sign the agreement of purchase and sale, and the buyer pays the deposit. If the offer has conditions, such as financing or a home inspection, the buyer has a set time to satisfy or waive them. Your lawyer then completes the closing and transfers ownership on the closing date.

Financing & Mortgages

A mortgage is a loan from a lender to cover the part of the price your down payment doesn't. You repay it, with interest, over the amortization period, which is often 25 years and up to 30 years in some cases. Your mortgage term, commonly 5 years, is how long your rate and conditions are locked in. At the end of the term you renew.
Common options in Canada are fixed-rate mortgages, where the rate stays the same for the term, and variable-rate mortgages, where the rate moves with the lender's prime rate. If your down payment is under 20%, the mortgage must be insured (for example through CMHC).
In Canada, the minimum is 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million. For homes priced at $1.5 million or more, the minimum is 20%. A larger down payment lowers your payments and the interest you pay.
Mortgage interest rates are the percentage of the loan amount you’ll pay in interest to the lender. Lower rates mean lower monthly payments and less interest over the life of the loan. Rates can vary based on economic conditions and your credit score.
Lenders look at your income, job history, credit score and debts. They also apply the federal stress test, which checks that you could still afford your payments at a higher interest rate. Pre-approval shows you how much you may be able to borrow.
Mortgage pre-approval is an initial evaluation by a lender to determine the amount they’re willing to lend you. It gives you a clear budget and shows sellers that you’re a serious buyer. Getting pre-approved before house hunting can make the buying process smoother.
It may be more challenging, but some lenders offer mortgage options for buyers with lower credit scores. Expect potentially higher interest rates and a larger down payment requirement. Working to improve your credit score before applying can help you secure better terms.
Closing costs are paid on closing day on top of your down payment. They include land transfer tax, legal fees, title insurance and adjustments. They're often 1.5% to 4% of the purchase price.
Mortgage insurance is required when your down payment is under 20%. It protects the lender, not you. It's provided by CMHC, Sagen or Canada Guaranty. The premium is usually added to your mortgage balance. In Ontario, provincial sales tax on the premium must be paid in cash at closing.
Options include making a larger down payment, choosing a longer loan term, or finding a lower interest rate by shopping around. Refinancing your mortgage down the line may also help reduce payments if interest rates decrease.

Legal Requirements

To buy a property in Canada, you’ll typically need identification, a mortgage pre-approval letter (if financing), proof of income, recent bank statements, and tax documents. Additionally, a purchase agreement, property title, and insurance documents will be required during the closing process.
Yes. In Ontario, a real estate lawyer completes the closing, searches the title, handles the transfer of funds and registers the change of ownership.
A property title is a legal document that outlines ownership of the property. It is essential because it confirms that the seller has the legal right to sell the property and that there are no legal claims (like liens) against it. Your lawyer can perform a title search to verify its status.
Property taxes are charged every year by your municipality, based on your property's assessed value from MPAC. On closing, the buyer and seller split the year's taxes based on the closing date.
The buyer pays Ontario land transfer tax on closing. If the property is in Toronto, the buyer also pays Toronto's municipal land transfer tax. First-time buyers may qualify for a refund of up to $4,000 on the Ontario tax and up to $4,475 on the Toronto tax.
Yes. A federal ban currently stops most non-Canadians from buying residential property in Canada, with some exceptions. In Ontario, foreign buyers who are allowed to buy also pay a 25% Non-Resident Speculation Tax. Rules change, so speak to a lawyer before making an offer.
Freehold ownership means you own both the building and the land, while leasehold ownership means you only own the building but lease the land from another party. Most residential properties in Canada are freehold, but some properties (like certain condos) may be leasehold.
Yes, property insurance is typically required by lenders to protect their investment in the property. Insurance covers potential damages from natural disasters, fire, theft, and other risks. It’s a good idea to have coverage in place before closing on the property.
It depends on the issue. Most resale homes are sold "as is", which is why a home inspection before buying is so important. If the seller knowingly hid a serious defect, you may have legal options, so speak to your lawyer. New homes in Ontario are covered by Tarion warranty.
The closing date is the agreed-upon day when the property ownership is legally transferred from the seller to the buyer. It can be adjusted if both parties agree, but changes may affect costs or timelines. Your lawyer or real estate agent can help coordinate any changes to the closing date.

Property Listings

Explore a wide selection of residential properties, including houses, apartments, and townhomes suited for families, couples, or individuals. Perfect for finding a home that matches your lifestyle and needs, whether you're a first-time buyer or looking to upgrade.
Browse commercial spaces ideal for businesses, from office buildings and retail spaces to warehouses. Find the perfect location to establish or expand your business across Ontario.
Discover exclusive high-end properties that offer premium amenities, stunning views, and unique architectural details. Ideal for those seeking a luxurious living experience with top-notch features and locations.
Find the perfect getaway with vacation properties that include cottages, cabins, and beachfront homes. These properties are ideal for seasonal living or as investment rental properties in scenic locations across Canada.
Explore properties specifically suited for investment purposes, including multi-family units, rental apartments, and other income-generating options. Ideal for investors looking to build a real estate portfolio.
Browse available land and lots for sale, from urban plots to rural acreage, perfect for those interested in custom building, farming, or other unique property developments.

Site Navigation

To create an account, click on the 'Sign Up' button at the top of the homepage. You’ll be prompted to enter your email, create a password, and provide some basic information. Once registered, you can start browsing properties and saving your favorites.
Use the search bar on the homepage, then narrow your results with filters like location, property type, price and number of bedrooms.
When you're signed in, click the heart icon on any listing. It's added to your Wishlist.
Open your Wishlist from your account menu.
On any listing, request a showing or ask a question. A Broko Realty agent will get back to you.
Go to the Sell page and share some details about your property. A Broko Realty agent will contact you to get your home listed.
If you forget your password, click on the 'Forgot Password' link on the login page. Enter the email associated with your account, and you’ll receive instructions to reset your password.
To update your account details, go to your dashboard, click on 'Account Settings,' and select 'Edit Profile.' Here, you can update your personal information, change your password, and adjust notification preferences.
Yes, you can use the 'Compare' feature on Broko. Select multiple properties by clicking the 'Compare' button on each listing, then view them side-by-side to compare details like price, size, and features.
Email support@broko.ca with a short description of the problem and a screenshot if you can.

Customer Support

Email support@broko.ca
Our customer support team is available Monday through Friday, 9:00 AM to 6:00 PM (local time). For urgent inquiries, please use the support chat on the website for faster assistance during these hours.
Our support team aims to respond to all inquiries within 24 hours. For complex issues, resolution times may vary, but we’ll keep you updated throughout the process.
This FAQ page covers the most common questions. If you can't find what you need, email support@broko.ca.
When reaching out, please include details like your account email, a brief description of the issue, any error messages you encountered, and screenshots if applicable. This helps us resolve your issue more efficiently.
Email support@broko.ca with the listing address or user's name and what you noticed. Our team will look into it.
Yes. Your Broko Realty agent prepares and updates your listing for you. For anything else, email support@broko.ca.
Email support@broko.ca. We read every message.
If your account is suspended, please contact customer support with your account details. Our team will investigate the issue and provide instructions on how to restore your account if possible.
Reply to the email thread with our support team and we'll update you on where things stand.

Frequently Asked Questions

FAQ Sections

Buying Process

How do I start the process of buying a property on Broko?
Create a free account, then search listings using filters like location, price, schools, property type and number of bedrooms. When you find a property you're interested in, you can request a showing or connect with a Broko Realty agent for help.
The documents required vary by location and property type but typically include proof of income, identification, a pre-approval letter for a mortgage (if applicable), and other financial documents. Working with a real estate agent or legal advisor can help ensure you have all necessary documents.
Besides the purchase price, budget for closing costs. These include Ontario land transfer tax (plus Toronto's municipal land transfer tax if you buy in Toronto), legal fees, title insurance, a home inspection, and adjustments for property taxes or utilities the seller has prepaid. Condo buyers should also budget for monthly condo fees. Closing costs are often 1.5% to 4% of the purchase price.
Yes, most property prices are negotiable. You can submit an offer below the asking price, but the seller may choose to accept, decline, or counter your offer. An experienced real estate agent can assist with negotiations to help you get the best possible price.
A home inspection is a professional evaluation of the property's condition. It helps identify any potential issues before purchasing, such as structural problems or repair needs. While not mandatory, it is highly recommended to avoid unexpected expenses after purchase.
It varies. Once your offer is accepted, closing is often 30 to 90 days later, depending on what you and the seller agree to.
You're not required to have one, but an agent can help you with pricing, offers, negotiation and paperwork. Broko can connect you with a Broko Realty agent. In Ontario, if you work with an agent, you'll sign a written buyer representation agreement first.
Most buyers make a down payment and take a mortgage from a bank or other lender for the rest. It's a good idea to get pre-approved before you start making offers so you know your budget.
Go to the Sell page and share some details about your property. A Broko Realty agent will contact you to talk about pricing, marketing and listing your home.
When listing your property, you’ll need to provide details like property type, location, square footage, number of bedrooms and bathrooms, amenities, and photos. A clear, accurate description helps attract the right buyers and speeds up the selling process.
Pricing is based on recent sales of similar homes nearby. Bestimate™ gives you an automated estimate to start with. It isn't an appraisal. A Broko Realty agent can prepare a comparative market analysis to help you set your price.
Common costs include real estate commission, legal fees, any repairs or staging, and, if you have a mortgage, any discharge fee or prepayment penalty charged by your lender.
Your Broko Realty agent handles inquiries from buyers and their agents, and arranges showings at times that work for you.
Properties are listed on Broko through Broko Realty Ltd., Brokerage. To list your property with us, you'll work with a Broko Realty agent, who will handle marketing, showings, offers and negotiation for you.
The time to sell a property can vary based on market conditions, property type, location, and pricing. On average, it may take a few weeks to several months. Proper marketing, competitive pricing, and well-staged listings can help shorten this timeframe.
Preparing your property involves cleaning, decluttering, and making any necessary repairs or improvements. Consider staging the space to make it look more appealing to buyers. High-quality photos and a clear description can also make a significant impact on your listing.
Your Broko Realty agent negotiates on your behalf and presents every offer to you. You decide whether to accept, reject or sign back an offer.
You and the buyer sign the agreement of purchase and sale, and the buyer pays the deposit. If the offer has conditions, such as financing or a home inspection, the buyer has a set time to satisfy or waive them. Your lawyer then completes the closing and transfers ownership on the closing date.
A mortgage is a loan from a lender to cover the part of the price your down payment doesn't. You repay it, with interest, over the amortization period, which is often 25 years and up to 30 years in some cases. Your mortgage term, commonly 5 years, is how long your rate and conditions are locked in. At the end of the term you renew.
Common options in Canada are fixed-rate mortgages, where the rate stays the same for the term, and variable-rate mortgages, where the rate moves with the lender's prime rate. If your down payment is under 20%, the mortgage must be insured (for example through CMHC).
In Canada, the minimum is 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million. For homes priced at $1.5 million or more, the minimum is 20%. A larger down payment lowers your payments and the interest you pay.
Mortgage interest rates are the percentage of the loan amount you’ll pay in interest to the lender. Lower rates mean lower monthly payments and less interest over the life of the loan. Rates can vary based on economic conditions and your credit score.
Lenders look at your income, job history, credit score and debts. They also apply the federal stress test, which checks that you could still afford your payments at a higher interest rate. Pre-approval shows you how much you may be able to borrow.
Mortgage pre-approval is an initial evaluation by a lender to determine the amount they’re willing to lend you. It gives you a clear budget and shows sellers that you’re a serious buyer. Getting pre-approved before house hunting can make the buying process smoother.
It may be more challenging, but some lenders offer mortgage options for buyers with lower credit scores. Expect potentially higher interest rates and a larger down payment requirement. Working to improve your credit score before applying can help you secure better terms.
Closing costs are paid on closing day on top of your down payment. They include land transfer tax, legal fees, title insurance and adjustments. They're often 1.5% to 4% of the purchase price.
Mortgage insurance is required when your down payment is under 20%. It protects the lender, not you. It's provided by CMHC, Sagen or Canada Guaranty. The premium is usually added to your mortgage balance. In Ontario, provincial sales tax on the premium must be paid in cash at closing.
Options include making a larger down payment, choosing a longer loan term, or finding a lower interest rate by shopping around. Refinancing your mortgage down the line may also help reduce payments if interest rates decrease.
To buy a property in Canada, you’ll typically need identification, a mortgage pre-approval letter (if financing), proof of income, recent bank statements, and tax documents. Additionally, a purchase agreement, property title, and insurance documents will be required during the closing process.
Yes. In Ontario, a real estate lawyer completes the closing, searches the title, handles the transfer of funds and registers the change of ownership.
A property title is a legal document that outlines ownership of the property. It is essential because it confirms that the seller has the legal right to sell the property and that there are no legal claims (like liens) against it. Your lawyer can perform a title search to verify its status.
Property taxes are charged every year by your municipality, based on your property's assessed value from MPAC. On closing, the buyer and seller split the year's taxes based on the closing date.
The buyer pays Ontario land transfer tax on closing. If the property is in Toronto, the buyer also pays Toronto's municipal land transfer tax. First-time buyers may qualify for a refund of up to $4,000 on the Ontario tax and up to $4,475 on the Toronto tax.
Yes. A federal ban currently stops most non-Canadians from buying residential property in Canada, with some exceptions. In Ontario, foreign buyers who are allowed to buy also pay a 25% Non-Resident Speculation Tax. Rules change, so speak to a lawyer before making an offer.
Freehold ownership means you own both the building and the land, while leasehold ownership means you only own the building but lease the land from another party. Most residential properties in Canada are freehold, but some properties (like certain condos) may be leasehold.
Yes, property insurance is typically required by lenders to protect their investment in the property. Insurance covers potential damages from natural disasters, fire, theft, and other risks. It’s a good idea to have coverage in place before closing on the property.
It depends on the issue. Most resale homes are sold "as is", which is why a home inspection before buying is so important. If the seller knowingly hid a serious defect, you may have legal options, so speak to your lawyer. New homes in Ontario are covered by Tarion warranty.
The closing date is the agreed-upon day when the property ownership is legally transferred from the seller to the buyer. It can be adjusted if both parties agree, but changes may affect costs or timelines. Your lawyer or real estate agent can help coordinate any changes to the closing date.
Explore a wide selection of residential properties, including houses, apartments, and townhomes suited for families, couples, or individuals. Perfect for finding a home that matches your lifestyle and needs, whether you're a first-time buyer or looking to upgrade.
Browse commercial spaces ideal for businesses, from office buildings and retail spaces to warehouses. Find the perfect location to establish or expand your business across Ontario.
Discover exclusive high-end properties that offer premium amenities, stunning views, and unique architectural details. Ideal for those seeking a luxurious living experience with top-notch features and locations.
Find the perfect getaway with vacation properties that include cottages, cabins, and beachfront homes. These properties are ideal for seasonal living or as investment rental properties in scenic locations across Canada.
Explore properties specifically suited for investment purposes, including multi-family units, rental apartments, and other income-generating options. Ideal for investors looking to build a real estate portfolio.
Browse available land and lots for sale, from urban plots to rural acreage, perfect for those interested in custom building, farming, or other unique property developments.
To create an account, click on the 'Sign Up' button at the top of the homepage. You’ll be prompted to enter your email, create a password, and provide some basic information. Once registered, you can start browsing properties and saving your favorites.
Use the search bar on the homepage, then narrow your results with filters like location, property type, price and number of bedrooms.
When you're signed in, click the heart icon on any listing. It's added to your Wishlist.
Open your Wishlist from your account menu.
On any listing, request a showing or ask a question. A Broko Realty agent will get back to you.
Go to the Sell page and share some details about your property. A Broko Realty agent will contact you to get your home listed.
If you forget your password, click on the 'Forgot Password' link on the login page. Enter the email associated with your account, and you’ll receive instructions to reset your password.
To update your account details, go to your dashboard, click on 'Account Settings,' and select 'Edit Profile.' Here, you can update your personal information, change your password, and adjust notification preferences.
Yes, you can use the 'Compare' feature on Broko. Select multiple properties by clicking the 'Compare' button on each listing, then view them side-by-side to compare details like price, size, and features.
Email support@broko.ca with a short description of the problem and a screenshot if you can.
Email support@broko.ca
Our customer support team is available Monday through Friday, 9:00 AM to 6:00 PM (local time). For urgent inquiries, please use the support chat on the website for faster assistance during these hours.
Our support team aims to respond to all inquiries within 24 hours. For complex issues, resolution times may vary, but we’ll keep you updated throughout the process.
This FAQ page covers the most common questions. If you can't find what you need, email support@broko.ca.
When reaching out, please include details like your account email, a brief description of the issue, any error messages you encountered, and screenshots if applicable. This helps us resolve your issue more efficiently.
Email support@broko.ca with the listing address or user's name and what you noticed. Our team will look into it.
Yes. Your Broko Realty agent prepares and updates your listing for you. For anything else, email support@broko.ca.
Email support@broko.ca. We read every message.
If your account is suspended, please contact customer support with your account details. Our team will investigate the issue and provide instructions on how to restore your account if possible.
Reply to the email thread with our support team and we'll update you on where things stand.

BROKO: Leveraging AI-powered chat, price estimation, and data-driven insights, Broko helps streamlines real estate decisions, empowering buyers and sellers with personalized tools and alerts.

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