Brian's Ontario Real Estate Blog

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

ARCHIVED BLOG POSTS

2016 

Suing the Buyer’s Agent for the Shortfall in Valuation after the Bidding WarCan a successful bidder sue his own Agent after the property fails to appraise?We looked at a situation where Bill submitted an unconditional Offer in a bidding war, defaulted on the transaction and now has $170,000 in lo...
06/29/2016
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%
06/29/2016
Suing the Appraiser for the Shortfall in Valuation We are still looking at the situation where Bill submitted an unconditional Offer in a bidding war, defaulted on the transaction and now has $170,000 in losses.Where can he go to seek some reimbursement?There are effectively two possibilities wit...
06/28/2016
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% 2.29% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%  
06/28/2016
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 ...
06/26/2016
 Bidding Wars – High Bidder and Property Appraisal IssuesThere is a relatively new phenomenon involving the failure of a property to meet appraisals standards, following bidding wars.So, let’s look at a scenario. Bob puts his property on the market at $540,000. That really doesn’t make that much ...
06/26/2016
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% 2.29% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%
06/26/2016
 Tenant’ Lawyer Conditions Sometimes, it’s necessary for the Tenant’s lawyer to approve the Agreement to Lease and/or the Lease itself.Here are two clauses to consider:1)    Business Terms This Offer is conditional upon the approval of the agreement between the parties by the Tenant’s Solicitor i...
06/25/2016
Half -Way House Disclosure in OntarioQuestion:There is a half-way house located across the street and down by about 8 houses from the subject property. Does the Listing Agent have to disclose this?Answer:Yes and No. The Listing Agent has to determine, verify and disclose the material facts. But, ...
06/24/2016
Lawyer’s Approval: What Clause to Use?  You have already decided to include in an Offer “subject to lawyer’s approval”, but what particular clause do you want?Case law seems to suggest that in Ontario, a general clause would not only permit a lawyer to embark upon the review of the business terms...
06/24/2016
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BrianMadigan

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