ARCHIVED BLOG POSTS
2016
Husband’s Right to the House after Wife’s PassingQuestion:Husband and wife live in home. Wife is the only one on title. Wife passes away. Does home automatically transfer ownership or does it have to be willed?Answer:The answer could be "yes" or could be "no" depending upon a number of facts not ...
05/17/2016
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.19% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.49% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
05/17/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.34% 4 YEARS 3.89% 2.49% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 3.44% 10 YEARS 6.10% 3.84% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.25%
05/15/2016
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 1.17%Canada Housing 06/15/21 [-0.03] 5 Year - 0.70%CAN 0.75 03/01/21 [-0.02] 0.90% [-] 5 Year - 1.28%*Canada Housing 12/15/21 [-0.03] 10 Year ...
05/15/2016
Seller’s Disclosure of BidsQuestion: Is it allowable for a Seller to disclose information about the bids? Assume that one of the bidders is a friend of the Seller’s. Can the Seller say, the highest bid we have so far is $772,000.00.Such a disclosure is not permitted by a real estate agent. It’s ...
05/15/2016
Does the Seller Need a Mutual Release if the Deal Does not “Firm Up”?Bob submits an Offer on Bill’s property for $920,000.00 with a $50,000.00 deposit, subject to two conditions, financing and inspection, both running 5 days.At the end of the 5 day period, Bob is still not ready to “go firm” and ...
05/13/2016
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Suing for the Unpaid DepositBob submits an Offer on Bill’s property for $890,000 with a $50,000.00 deposit, which Bill accepts.One little problem: Bob fails to pay the deposit.The Offer said “upon acceptance”, so the deposit had to be provided within 23 hours and 59 minutes and 59 seconds of that...
05/12/2016
Terms The Bank Preferred Rates 1 Year 2.84% 2.79% 2 Years 2.79% 2.34% 3 Years 3.39% 2.49% 4 Years 4.09% 2.59% 5 Years 4.79% 2.69% 7 Years 5.85% 3.39% 10 Years 6.09% 3.89% VIRM 2.70% 2.15% The prime rate is 2.70%
05/12/2016
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Deposit Issues A deposit is not required to make a contract enforceable A deposit is a sign of good faith All deposits are non-refundable A refundable deposit must be specified A deposit is a pre-liquated sum that both parties agree will be the minimum amount paid to the ...
05/11/2016
Does the Agent Have to Disclose a Severance Condition?This is a somewhat unique case. An owner severed their exiting lot into two parcels.As a condition of the severance, the municipality imposed two conditions upon the building to be placed upon the lot under the Planning Act.The conditions prov...
05/11/2016
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