ARCHIVED BLOG POSTS
2017
Roof Patched, Leaks and Late Discovery(Ontario) Question:Buyers have noticed an active leak in the roof of an extension to the main building.They noticed the damage on the day they took possession , but thought it was perhaps old damage that had not been repaired. It had obviously been badly pat...
08/21/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 1.91%*CANHOU 12/15/22 [-0.03] 5 Year - 1.47%CAN 0.50 03/01/22 [-0.04] 1.04% [-] 10 Year - 2.41%*CANHOU 03/15/28 [-0.03] 10 Year - 1.86%CAN 1.0 ...
08/18/2017
Fixed term best discounted rates & posted rates as of Aug 14, 2017 6 mos 3.10% 3.14%1yr 2.44% 3.04%2yr 2.54% 2.84%3yr 2.69% ...
08/14/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 1.93%*CANHOU 12/15/22 [-] 5 Year - 1.50%CAN 0.50 03/01/22 [-0.01] 0.98% [-] 10 Year - 2.44%*CANHOU 03/15/28 [-] 10 Year - 1.89%CAN 1.0 06/01/2...
08/14/2017
Holdover Provision in Listing Agreements (Ontario)Question:Just how does the “holdover provision” work? Answer: Let’s have a look at the actual provision:“The Seller further agrees to pay such commission as calculated above if an agreement to purchase is agreed to or accepted by the Seller or any...
08/08/2017
1
Comments
Repaired Defects and Disclosure (Ontario)Question:If it is something that has been fixed does it still need to be disclosed? Say a flooding basement?Answer:The Seller is under an obligation to disclose a material latent defect of which he has knowledge. Fixing or not fixing is not the issue at al...
08/08/2017
Agents’ Duties Following Pre-Offer Inspection (Ontario)Question:1) What is the Buyer’s Agent's disclosure responsibility if they find something major during the home inspection? 2) I thought the Listing Agent has to disclose to future buyers if one buyer does a pre-offer inspection, finds s...
08/08/2017
2
Comments
Pre-Offer Home Inspection (Ontario)Question:Assuming that you are the Listing agent, would you let a potential Buyer do a home inspection on your listing BEFORE submitting an offer?If so, why?Answer:I would encourage it.If there are any problems then the Buyers have knowledge and have assumed the...
08/06/2017
2
Comments
Correcting Errors in an Offer (Ontario)Question:I am the Listing Agent and I received an offer on a property and the Buyer Agent made a few errors. In particular, he put items that are not included with the sale in the chattels included, and the wrong maintenance fee amount. Apart from those item...
08/06/2017
0
Comments
Condition Subsequent (Ontario)Question:What is a condition subsequent?Answer:It is a condition which presumes confirmation unless a notice is provided to the contrary.This means the time limit will come and go without any paperwork required.If the condition were financing until 5:00 pm on Friday....
08/02/2017
Rainmaker
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Brian Madigan
LL.B., Broker
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