Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2015 

Terms The Bank Preferred Rates 1 Year 3.14% 2.79% 2 Years 3.14% 2.34% 3 Years 3.80% 2.49% 4 Years 4.54% 2.59% 5 Years 4.84% 2.69% 7 Years 5.30% 3.39% 10 Years 6.10% 3.89% VIRM 2.70% 2.15% The prime rate is 2.70%  
10/10/2015
Mortgage amount $500,000    Variable 5 Years: 1.85% Our rate                  2.10% (every where else)   At the rate of %1.85 compared to %2.10 you will be saving a monthly fee of 60$.  $60 (monthly savings) X 12 (months) = $720 Savings in a year $720 (yearly savings) X 25 years (mortgage time) ...
10/10/2015
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% 2.49% 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 2.70% 5 yr variable 2.05%
10/09/2015
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 1.50%Canada Housing 12/15/20 [+0.04]       5 Year - 0.87%CAN 0.75 09/01/20 [+0.06]       0.80% [-]                       10 Year - 2.18%Canada Housing 12/15/25 [+0.06]       10 Year - 1.51%CAN 2.25 06/01...
10/09/2015
 QuestionBuyer’s deposit cheque arrives late. Buyer proceeds with fulfilling conditions and submits necessary documents.Seller requests preparation of mutual release and signs same. Buyer refuses to sign. Does seller have a binding agreement? ANSWER Time is of the essence, that's down to the minu...
10/08/2015
Terms The Bank Preferred Rates 1 Year 3.14% 2.79% 2 Years 3.14% 2.34% 3 Years 3.80% 2.49% 4 Years 4.54% 2.59% 5 Years 4.84% 2.69% 7 Years 5.30% 3.39% 10 Years 6.10% 3.89% VIRM 2.70% 2.15% The prime rate is 2.70%
10/08/2015
Tax Sales Municipal OntarioMunicipalities dispose of properties authority under Part XI (Sections 371-389) of the Municipal Act, 2001 R.O. 2001 c. 25, within their jurisdiction for arrears of taxes.The tax arrears include outstanding amounts owed to a municipality which consist of costs, expenses...
10/04/2015
Commission Trust Account for Ontario Real Estate Brokerages By Brian Madigan LL.B.  There is provision in the Real Estate and Business Brokers Act, 2002 for the establishment and maintenance of a Commission Trust Account. The matter of commission protection insurance is dealt with under Ontario R...
10/04/2015
A Buyer’s Rep Foregoing CommissionThe commission is set out in the Listing Agreement. There may be an amount offered to the co-operating brokerage. The Buyer’s agent proposes to provide a benefit to his own client.That’s fine, but in this scenario he wants to bump up the benefit by not paying the...
10/04/2015
The Meaning of "Nunc Pro Tunc"  By Brian Madigan LL.B.The latin expression "nunc pro tunc" is an important latin legal term. It literally means "now for then". Actually, it is synonomous with official backdating.It is quite clear that you can't backdate documents. If something was to be signed on...
10/04/2015
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Brian Madigan

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