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 

Cheque in Payment of a Gift (The Rules)When is the cheque good? What does it mean? If it goes “NSF” can you get it replaced? What if it’s just a gift, does that make any difference?The Ontario Court of Appeal recently considered these questions in Teixeira v. Markgraf Estate, 2017 ONCA 819.Facts:...
11/11/2017
Access KeysQuestion: How do you ensure that the Buyer gets all the keys on closing?AnswerNaturally everyone wants the full set. Lawyers at best have one key to deliver and that’s always inconvenient on the closing day. It’s traditional, but a key is not actually required to complete the closing. ...
11/11/2017
Interpretation of the Lawyer’s Approval ClauseThis particular clause has always led to discussion.The application of the “good faith and honesty” doctrine from the Supreme Court of Canada in a recent BC case* sheds some further light on the relevant issues.The Buyers sought specific performance o...
11/09/2017
Doctrine of Good Faith Extended by B.C. Supreme CourtOn 1 September 2017, the British Columbia Supreme Court considered the exercise of discretion by a Seller.An Offer was submitted and accepted on an upscale property in Vancouver. The Seller was not sophisticated and as a result the real estate ...
11/08/2017
Fixed term best discounted rates & posted rates as of Nov 6, 2017: 6 mos                                 3.10%         3.14%1yr                                     2.64%          3.04%2yr                                     2.54%          3.04%3yr                                     2.74%        ...
11/06/2017
Furnace and Central Air: Chattels or Fixtures (Ontario)Question:Should an owned furnace and central air conditioner into the deal?Do you list them as 'chattels included'? Or do you just assume that if not listed as a rental item they are included as fixtures? Answer:I have never, ever heard of a ...
11/06/2017
“Merger” Wording in OntarioQuestion:The warranty clause, in order to survive closing, would have to include an appropriate wording; e.g., This warranty shall survive and not merge on completion of the transaction but apply only to the state of the property at completion of the transaction.If the ...
11/06/2017
Sale of Business Schedules in OntarioQuestion:When a real estate brokerage is involved in the sale of a business REBBA says you must provide:1)    a statement of profit and loss, or 2)    a list of fixtures, goods, and chattels etc. that are included?Answer:The first statement is incorrect becaus...
11/06/2017
Statutory Severance of Joint Tenancy (Matrimonial Home in Ontario)Question:If 3 partners, who are single, own a property as joint tenants., one partner gets married and dies after 3 yrs. So joint tenancy is for dead partner's part is broken, and property returns to husband's estate and his wife a...
11/06/2017
Toronto Market Normalizes in October 2017WE have been anxiously awaiting the October 2017 results. In essence, the market is back to “normal”.Here is the report from TREB:GTA REALTORS® Release October Stats TORONTO, ONTARIO, November 2, 2017 – Toronto Real Estate Board President Tim Syrianos repo...
11/02/2017
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Brian Madigan

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