ARCHIVED BLOG POSTS
2016
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
12/21/2016
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Car Parked on Septic SystemQuestion:I recently purchased a waterfront cottage property. It appears that the neighbour is parking a boat over the winter months on top of my septic system. Then again, I can’t be sure specifically where it’s located. I am also concerned about the location of the nei...
12/20/2016
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December 2016 Mid - Month StatisticsThis is the mid-month report of the Toronto Real Estate Board:December 20, 2016 – Greater Toronto Area REALTORS® reported 3,196 home sales through TREB’s MLS® System during the first 14 days of December 2016.This result represented an increase of almost 18 per ...
12/20/2016
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% 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...
12/20/2016
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Is Buyer Stuck with Snowmobile Trail?Question:An Offer presented on a 50 plus acreage parcel in rural Ontario. We have just found out that the Snow Mobile Trail crosses the property at the end ,a very small part. The Buyers are unhappy with this deal.Is there anyway we can revoke this Agreement o...
12/20/2016
Fixed term best discounted rates & posted rates as of December 19, 20166 mos 3.10% 3.14%1yr 2.29% 3.04%2yr 2.14% 2.84%3yr 2.34% ...
12/19/2016
Legal Triplex Plus One “Additional Unit”Question:A home is listed as a "legal non confirming triplex" with supporting documentation. The owner decided to add a 4th unit in the home to increase the rental income and adds the rental income into the pro forma.1. Has the home now lost its status as l...
12/18/2016
Does a Proposed Amendment Allow the Seller to Accept other Offers? This is an interesting question. First, without the Buyer doing anything, the Seller can always entertain and accept a “back-up Offer”. So, this one is only a “go” if the first deal falls through.Frequently, a property contains a...
12/17/2016
Changing the Substance of the Title ClauseOver the years, the title clause in the standard form real estate transaction has changed.The title clause was amended several times. Initially, it provided for:1) good title, then it was,2) good title with some exceptions, then it was,3) good ti...
12/17/2016
Buyer’s Agent Does Direct Deal with Seller- Any Recourse?Question:I had a listing in Ontario, standard 90 day listing for a very aggressive seller. After every showing he would call the buyer’s agent for feedback and to basically push for an offerI advised him to the contrary. Nevertheless, he c...
12/16/2016
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