ARCHIVED BLOG POSTS
2011
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Terms Posted Rates Preferred Rates 6 MONTHS 4.45% 4.40% 1 YEAR 3.50% 2.75% 2 YEARS 3.55% 2.99% 3 YEARS 4.05% 3.19% 4 YEARS 4.79% 3.19% 5 YEARS 5.29% 3.49% 7 YEARS 6.35% 4.49% 10 YEARS 6.75% 4.79% Rates are subject to change without notice. *OAC E&OE Other Rates: CURRENT PRIME RATE IS 3.00% PRO...
11/21/2011
The Delayed, Deferred, Amended Possession Date and Insurance Ontario Real Estate Source By Brian Madigan LL.B. Here’s the problem. The vendor needs a little extra time to move out. The purchaser isn’t moving in for about one week. So, the closing is scheduled for Friday. The purchaser says that ...
11/19/2011
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Use the SPIS as a Checklist Ontario Real Estate Source By Brian Madigan LL.B. There are really two uses of the SPIS. The first use is simply as a “seller property information statement". But, at least one half of the real estate professionals don’t wish to use them. In those circumstances, you m...
11/19/2011
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By Brian Madigan LL.B. Ontario Real Estate Source The insurance clause is a standard provision in every agreement of purchase and sale. It may be one of the most important provisions contained in the agreement, when it comes to long closings.Let's have a look at the standard form agreement of p...
11/19/2011
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What Does Completion Mean in the Agreement? Ontario Real Estate Source By Brian Madigan LL.B. Everyone wants to know when the deal will close. So, it’s set out in the “completion date clause” which is the second numbered paragraph in the agreement. Let’s have a look at the standard form agreemen...
11/19/2011
Purchaser Acquires Insurable Interest upon Agreement Ontario Real Estate Source By Brian Madigan LL.B. When from an insurance perspective, does the purchaser have the right to insure property? Actually, the “insurable interest” arises upon execution of the Agreement of Purchase and Sale. The dep...
11/19/2011
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Vendor Loses Insurable Interest on Closing Ontario Real Estate Source By Brian Madigan LL.B. When the closing takes place, the vendor loses his “insurable interest” in the property. And, from an insurance perspective, that’s what’s required in order to have the right to insure property. In other...
11/19/2011
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Terms Bank Rates Preferred Rates 6 Month 4.45% 4.40% 1 YEAR 3.50% 2.89% 2 YEARS 3.55% 2.49% 3 YEARS 4.05% 3.09% 4 YEARS 4.79% 3.19% 5 YEARS 5.29% 3.39% 7 YEARS 6.35% 4.49% 10 YEARS 6.75% 4.79% Rates are subject to change without notice. *OAC E&OE ONTARIO REAL ESTATE SOURCE
11/19/2011
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Is the SPIS Just like the HIP? Ontario Real Estate Source By Brian Madigan LL.B. The HIP, known as the Home Information Pack has come and gone in Britain. It came in during 2007 and lasted until May 2010. The purpose was to provide certain basic information about a property to a potential purcha...
11/16/2011
Manitoba’s New “Property Disclosure Statement” Ontario Real Estate Source By Brian Madigan LL.B. Whether you like the idea or not, here is a copy of Manitoba’s new property Disclosure Statement. It is “Appendix A” to the standard form residential agreement of purchase and sale: APPENDIX A T...
11/14/2011
Rainmaker
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Brian Madigan
LL.B., Broker
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