ARCHIVED BLOG POSTS
2017
Water Presence Discovered After Agreement Before ClosingQuestion:Buyer does inspection before submitting offer. No problems come up and he buys the house firm. He goes for a revisit and notices a big puddle of water in the crawl space. Is the seller obligated to fix it before closing?Answer:First...
03/11/2017
Chattels and Fixtures Uncertainty – Treatment in Agreement (Ontario)Question:With respect to Chattels and Fixtures, what simple rule should you follow when drafting an Agreement of Purchase and Sale:A. Rather than use your own judgment as to whether an item is a fixture or a chattel, if an item...
03/11/2017
Customer Service Notices Acceptance (Ontario)Question:Could or should “Authority to give and receive notices” on behalf of Seller Brokerage's customer (seller is customer of listing brokerage), or alternatively on behalf of Buyer Brokerage's customer (Buyer is customer of Buyer brokerage?Answer:I...
03/11/2017
Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.72%*Canada housing 06/15/22 [+0.03] 5 Year - 1.26%CAN 0.50 03/01/22 [+0.03] 0.99% [-] 10 Year - 2.40%Canada housing 06/15/27 [+0.04] 10 Ye...
03/10/2017
Stigmas, Death, Drugs, Grow Ops and Remediation Disclosure (Ontario)Question:There are frequently issues with Stigmas, Death, Drugs, Grow Ops. Is disclosure required? If these matters have been remediated, then is disclosure required?Is there any Statute of Limitations here?Answer:There are sever...
03/08/2017
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Oil Spills and Fires: Disclosure (Ontario)Question: What kind of disclosure would you provide if listing a property that had a small vs large scale issue? For example... oil tank leaked. Does seller disclose minor leak vs major cleanup? What about a fire in home? Does a kitchen fire constitute a ...
03/08/2017
Buyer’s Agent Says the are Waiving their CommissionQuestion:An agent contacts you that they are bringing in an offer on your Listing, but waiving their commission. Do you disclose to the other agents who are presenting Offers? Are you breaching rules about NOT disclosing the contents of any other...
03/08/2017
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.44% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.34% Fixed 4 Year 3.89% 2.59% Fixed 5 Year 4.64% 2.59% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.10% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
03/08/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.44% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.59% 5 YEARS 4.64% 2.69% 7 YEARS 5.30% 3.24% 10 YEARS 6.10% 3.79% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.20%
03/07/2017
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Signing For a ClientQuestion:From time to time, I see agents sign on behalf of their Clients. Is this appropriate?Answer:I think there is a distinction among the agents who might reasonably execute such a document on behalf of a client and those who cannot. I think to sign on behalf of a client y...
03/06/2017
Rainmaker
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1,597,897
Brian Madigan
LL.B., Broker
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