ARCHIVED BLOG POSTS
2017
Access With and Without Notice to Ontario Residential PremisesQuestion:Do the provisions of the standard lease form require notice?Here’s Form 40013. ACCESS: The Landlord shall have the right, at reasonable times to enter and show the demised premises to prospective tenants, purchasers or others....
10/12/2017
Is Commission Owed on an Agreement which doesn’t Close?To answer this question we’ll have to look at the Listing Agreement.Here’s what it says:Part 1“In consideration of the Listing Brokerage listing the Property, the Seller agrees to pay the Listing Brokerage a commission of ...............% of ...
10/12/2017
Arbitration will work for Defaulted Real Estate TransactionsThis is a companion article to the one on Mediation.The Spring GTA real estate market saw a sudden and unexpected increase in prices, followed by an equally abrupt and sudden decrease in prices. This meant that many Buyers couldn’t close...
10/11/2017
Swimming Pool Clause which Needs Some Work (Ontario)Here is a swimming pool clause which many agents seem to be using:“The Buyer and Seller acknowledge that the swimming pool was not operational at the time of inspection. The Buyer and Seller agree that the Buyer's solicitor shall hold back the a...
10/10/2017
Mediation as the Solution for Defaulted Real Estate TransactionsThe Spring GTA real estate market saw a sudden and unexpected increase in prices, followed by an equally abrupt and sudden decrease in prices. This meant that many Buyers couldn’t close their deals. The mortgages couldn’t be arranged...
10/10/2017
Agent’s Negligence in the Selection of the Title Search Date It seems unusual for a real estate agent to be selecting a title search date without speaking to the Client's lawyer, yet, they do all the time. Rarely, if ever, is there any pre-agreement consultation. But, what if the title search per...
10/09/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.17%CANHOU 12/15/22 [+0.03] 5 Year - 1.79%CAN 1.0 09/01/22 [+0.03] 1.23% [-] 10 Year - 2.69%*CANHOU 03/15/28 [+0.05] 10 Year - 2.14%CAN 1.0 06...
10/07/2017
Rules Related to Signing Representation Agreements in OntarioBuyer Representation AgreementsThere are 4 steps to be followed.If a brokerage enters into a buyer representation agreement with a buyer and the agreement is not in writing, 1) the brokerage shall, before the buyer makes an offer, 2)...
10/05/2017
Toronto Market Normalizes in September 2017 That appears to be what is happening now. Have a look at the numbers. Also, you might recall that the Toronto Real Estate Board would place its own media spin on the numbers. Now, they simply say they have released the numbers and the conclusions are up...
10/05/2017
Commissions From Buyer on Defaulted DealQuestion:I was the Listing Agent and arranged for the sale of my client’s property in May with closing in late August. Buyer provided a $100k deposit. On the day of closing Buyer's lawyer did not accept the title and we received a letter from Buyer’s legal ...
10/04/2017
Rainmaker
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1,598,222
Brian Madigan
LL.B., Broker
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