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 

Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.74%*Canada housing 06/15/22 [-]       5 Year - 1.21%CAN 0.75 09/01/21  [+0.01]       0.96%                      [-]                        10 Year - 2.45%*Canada housing 06/15/27 [-0.02]       10 Year ...
12/16/2016
Withdrawal of Offer Prior to Expiry of Irrevocable PeriodQuestion:Can someone "withdraw" their offer well before irrevocable time? They want to pull the Offer at 8:00 pm to deal with another property but their Offer to my client runs to 11:00 pm. Also, what happens if they simply won't bring the ...
12/16/2016
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%
12/14/2016
The Furniture Deposit in Ontario (Furnished Apartments)Question:Is it legal to have a security deposit for furniture in Ontario?Answer:Landlords have tried a number of ways to get around the last month’s rent deposit and the key replacement charge deposit, however, they have all been ruled out.No...
12/13/2016
Refusing to Accept the Waiver (the Consequences)It is a popular belief that in certain circumstances, only a Notice of Fulfilment (NOF) will do, and a Waiver is completely unacceptable.That’s true in part. The NOF is required for a True Condition Precedent, that is, one which involves a decision ...
12/13/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.49% 5 YEARS 4.64% 2.69% 7 YEARS 5.30% 3.09% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%
12/12/2016
Christmas 2016 is a “Business Day” in OntarioWell, just for real estate. And, when I say that, just for regulative and administrative purposes for the profession, not actual buyers and sellers.Under the General Regulation 567/05 passed pursuant to the Real Estate and Business Brokers Act, 2002, t...
12/11/2016
Wall Damage when Pictures are RemovedQuestion:What is your opinion on holes in walls from pictures when the vendor takes their pictures off of the wall including the hooks and just leave holes?Do you expect the vendor to patch and paint? It wasn't a term or condition in the Agreement of Purchase ...
12/11/2016
The Magician’s Deposit ClauseA few Brokerages have been using a clause which they find helpful. From time to time a Buyer decides not to proceed with a real estate transaction.So, they take advantage of one of the “wind up” provisions in the Agreement, namely the financing or inspection condition...
12/11/2016
Notice of Fulfillment or Waiver (The “Debate”)A question that seems to arise frequently is the use of the Waiver and the Notice of Fulfillment (NOF). When do you use one? And, when do you use the other?You need to use an NOF for a True Condition Precedent. That's the reason it was drafted up in t...
12/10/2016
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Brian Madigan

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