ARCHIVED BLOG POSTS
2016
Agent Lists, Buys, Renovates but Never Closes Deal (RECO Discipline)The Regulator for the real estate industry, the Real Estate Council of Ontario (RECO) recently considered a case where the agent was substantially over-extended with a property.The agent took the listing. It didn’t sell. So, he t...
10/25/2016
Failure to Register Transfer of Title From an Estate (Ontario)Question:I am just about to list a house. There are three owners and they are all willing to sign. However, on checking with the Registry Office, there are still four names on title. One owner passed away several years ago. They did se...
10/24/2016
Signing the Acknowledgement of Receipt Question: What happens if the Seller refuses to sign the Acknowledgement of Receipt, for conditions fulfilled like inspection or financing? Answer:If you are the Listing Agent, you have authority to sign the Acknowledgement evidencing receipt, and you should...
10/24/2016
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% 2.24% 4 YEARS 3.89% 2.39% 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%
10/24/2016
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"Caveat" explained The latin term "caveat" is frequently used in law. It simply means "warning" or "caution".It is most frequently used in the expression "caveat emptor", which means "let the buyer beware. It is also used in the expression "caveat venditor", which means "let the seller beware".Th...
10/23/2016
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Vacant Possession - Complete Uncertainty In OntarioThe standard form Agreement of Purchase and Sale provides that the completion will take place BEFORE 6:00 pm on the day of closing.The specific clause reads as follows:“2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p...
10/23/2016
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Commencement or Start of Day Just when does the day begin? Sometimes, a minute or two can make a real difference.For real estate, there are days and then there are days. There are closing days, banking days, business days, days in a month, and in a year.When does a tenant have to leave? What actu...
10/21/2016
October 2016 - Mid Month ResultsThis is the current report released by the Toronto Real Estate Board (TREB) on the market:October 19, 2016 – Greater Toronto Area REALTORS® reported 4,460 home sales through TREB’s MLS® System during the first 14 days of October 2016. This result represented a 15.5...
10/21/2016
No Explanation of Services – Agent Faces PenaltiesThis situation is a little different, but unfortunately, somewhat commonplace.Omar Shariff is a real estate agent working with ABC Brokerage. A condominium apartment was listed by Barney Noble of XYZ Brokerage. A consumer was introduced to Barney ...
10/21/2016
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Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.09%Canada housing 12/15/21 [-0.06] 5 Year - 0.66%CAN 0.75 09/01/21 [-0.05] 0.95% [-] 10 Year - 1.70%Canada housing 09/15/...
10/21/2016
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