ARCHIVED BLOG POSTS
2015
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.89% 2.29% 2 YEARS 2.84% 2.19% 3 YEARS 3.39% 2.34% 4 YEARS 3.89% 2.54% 5 YEARS 4.64% 2.59% 7 YEARS 5.30% 3.39% 10 YEARS 6.10% 3.84% Rates are subject to change without notice. OAC E&OE Prime Rate 2.85% 5 yr variable 2.20%
06/28/2015
Electronic Signatures for Real Estate Transactions in Ontario These signatures will be permitted in Ontario effective 1 July 2015. Certain changes to the Electronic Commerce Act will permit this. Here is the definition in the Act: “electronic signature” means electronic information that a ...
06/28/2015
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The answer is “no”, but a lot of people don’t believe it.Let’s assume that Bob puts in an Offer to buy Bill’s property. The offer is accepted and contains some conditions, including financing and home inspection.The agreement is struck Tuesday and the conditions expire on Friday. However, Friday ...
06/28/2015
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The latin expression "ex officio" means "from the office" or "by reason of the office".It is one of the most common legal terms derived from latin. And, everyone seems to know exactly what it means. Yet, on second thought, they might not be quite so sure.Here's the issue. A prominent individual i...
06/28/2015
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The latin expression "corpus juris" simply means "body of law". In fact, it's the entire body of laws in a country or a jurisdiction. Commonly, the expression is used in the United States, but used somewhat less frequently in other jurisdictions.Sometimes, it might be used in the reasons for Judg...
06/28/2015
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The latin expression "ad litem" pronounced "ad light um" means "for this suit" or "for the purposes of this lawsuit". Generally, the expression is used in connection with the term "guardian", so that the term appears as "guardian ad litem". In a lawsuit, there are various parties, being plaintiff...
06/28/2015
OREA Form 801 ~ Commentary Bill 55 comes into force on 1 July 2015. For real estate agents, it will permit e-signatures and will require the Brokerage acting on behalf of the Seller to retain either: 1) A copy of all Offers, or 2) A copy of a prescribed document. The choice with this...
06/28/2015
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Brian Madigan’s OFFER DOCUMENT SUMMARY I have been requested to suggest a Form of document which would be sufficient for a Brokerage to hold instead of a copy of the actual Offer. OFFER SUMMARY DOCUMENT 1. The name and signature of the person who made the offer to purchase the real e...
06/27/2015
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 1.57%*Canada Housing 12/15/20 [+0.04] 5 Year - 1.01%CAN 3.50 03/01/20 [+0.04] 0.97% [-] 10 Year - 2.41%*Canada Housing 12/15/25 [+0.06] 10 Year - 1.85%CAN 2.25 06/...
06/27/2015
Buyer Representation Agreement Explained by Brian Madigan This is now a book which can be acquired through Amazon http://www.amazon.ca/dp/B0108H66YS/ The book summarizes the law of agency as represented by the standard form “BRA” agreement. This is an ideal tool for the real estate practitioner. ...
06/23/2015
Rainmaker
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1,598,222
Brian Madigan
LL.B., Broker
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