ARCHIVED BLOG POSTS
2011
Buyer Defaults: How Does Buyer's Agent Get Paid? Ontario Real Estate Source By Brian Madigan LL.B. Question: Will the buyer's brokerage receive a commission, and from who, if the deal fell through due to the buyer's default or neglect? In ordinary circumstances the Buyer brokerage will be paid b...
06/11/2011
Does the Seller Pay a Commission in the case of Buyer's Default? Ontario Real Estate Source By Brian Madigan LL.B. The answer in Ontario is "yes". While the commission is clearly still payable in the event of the seller's default, there does not appear to be anything in the listing agreement whi...
06/11/2011
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SPIS Wording No Defence for Agents Ontario Real Estate Source By Brian Madigan LL.B. Frequently it is believed that the wording in a document governs the relationship between the parties. That's an argument made by agents in respect to the completion of the Seller Property Information Statement ...
06/09/2011
Vendor has Obligation to Disclose "Prohibition Order" Ontario Real Estate Source By Brian Madigan LL.B. The Supreme Court of British Columbia dealt with the matter of the vendor's duty to disclose Pavenham Development Corp. v. Sladen(1997). The Facts •· The vendor owned a property that h...
06/08/2011
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Tax Advantages of Co-Tenancy in Families Ontario Real Estate Source By Brian Madigan LL.B. Most of the time, joint tenancy seems the only method to hold title in family situations. And, yes, it does prevent probate fees. But, probate fees are only payable if someone dies. Let's have a look at a ...
06/07/2011
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ORES Real Estate Index for May 2011 Ontario Real Estate Source By Brian Madigan LL.B.Here is the "ORES REAL ESTATE INDEX" which tracks the average resale prices of single family homes and condominiums in the Greater Toronto Area (GTA). It also tracks certain benchmark comparisons such as the p...
06/06/2011
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Terms Posted Rates Preferred Rates 6 MONTHS 4.45% 4.40% 1 YEAR 3.60% 2.64% 2 YEARS 3.95% 3.30% 3 YEARS 4.45% 3.52% 4 YEARS 5.09% 3.69% 5 YEARS 5.49% 3.89% 7 YEARS 6.39% 4.79% 10 YEARS 6.75% 4.99% Rates are subject to change without notice. *OAC E&OE Ontario Real Estate Source If you require a re...
06/06/2011
Can You Buy a lawsuit from Your Title Insurer? The answer is "yes". There were some foundation problems with a house. The purchaser bought title insurance. The problems materialized and the purchaser made a claim. Then, in the settlement negotiations the purchaser asked to have the "subrogated ri...
06/05/2011
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Krawchuk v. Scherbak This case came before the Ontario Court of Appeal which released its decision on 6 May 2011. Since it is the highest Court in the province, and since the case is of considerable significance, I will be reviewing it in some detail in the next several posts. The case deals with...
06/05/2011
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Succession Planning is about Picking People Generally, the topic of succession planning seems rather broad based. Many think that it includes estate planning and other fields. I suppose it depends somewhat upon whether or not you are an estate planner, financial planner, accountant, actuary, tax ...
06/05/2011
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