Brian's Ontario Real Estate Blog

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

ARCHIVED BLOG POSTS

2017 

 Don’t Talk About Commissions on Internet Forums (Ontario)It is important to note that there is a $25 million fine under the Competition Act for “price-fixing”, including conspiracy to price fix.This means that some discussions would be OK and many would be inappropriate and in fact illegal.The r...
04/29/2017
How to Negotiate the Non-Exclusive BRA in OntarioQuestion:I got a call this morning from a potential buyer to view my listing. I asked if you have an agent...he said I want you to represent me as a customer representative and not as a client...? I told him you have to sign a BRA for this house be...
04/29/2017
 Marihuana Grow House Disclosure in OntarioQuestion:With pot laws about to change and ability for people to grow their own plants how will Buyers and Seller handle the disclosure of "...have not been used for the growth or manufacture of any illegal substances". If it's not illegal how would be k...
04/29/2017
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% 2.44% 4 YEARS 3.89% 2.54% 5 YEARS 4.64% 2.59% 7 YEARS 5.30% 3.19% 10 YEARS 6.10% 3.74% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.00%  
04/29/2017
Disclosure of Related Party in OntarioQuestion:My close relative is purchasing a home, I am his realtor...which disclosure form do I use and which party signs it:1) 160 - Registrants disclosure of interest 2) 610 - Disclosure of Benefit payableAnswer:You have a party who wishes to buy a property....
04/29/2017
Possibility of a Verbal Agreement Being in Writing (Ontario)Question:A deal was negotiated and accepted verbally. Paperwork signed by buyer and sent back for the confirmation of acceptance.Listing agent calls to say they got a better offer and wants to give the Buyer the opportunity to bid more. ...
04/22/2017
The Liability of a Minor under a Contract in Ontario Question:Contracts in Ontario are voidable by minors. If so, why would anyone ever deal with a minor? Answer:The intention is to prevent adults from taking advantage of minors in contracts. The contract is voidable at the instance of the minor....
04/22/2017
Agent Misses the Parking Pad AgreementThis situation was simple enough. Bob acted for Bill in the sale of his property. There was a mutual driveway. It was not quite wide enough to park Bill’s car but the neighbour gave permission (tolerated or acquiesced) to Bill. So, Bill parked his car there.B...
04/20/2017
Agent Breaks Into House with Home Inspector and BuyerAs strange as it may seem that’s exactly what one agent did.The Agreement was subject to a home inspection condition. The Listing Agent was going away, so the Buyer’s Agent without any appointment whatsoever simply went over to the property wit...
04/20/2017
 Seller Might Die Before ClosingQuestion:What happens if the Seller dies before the closing date? The Seller has already signed an Agreement of Purchase and Sale by an Attorney pursuant to a Power of attorney (POA).Answer:The Agreement that you have would still be enforceable but the risk is that...
04/20/2017
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Brian Madigan

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