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 

The Role of the Organizations in the Fair Rules BusinessAssuming that we are to come up with a series of “fair rules” for multiple offers and multiple representation, which organizations should be involved?We have a few to choose from:RECORECO is the Real Estate Council of Ontario. This is the re...
12/31/2017
A Fair System for Multiple Offers in Real Estate- the PartiesAt the outset, we should acknowledge “stealing” a few ideas from the construction industry and competitive sports.SellersRight now, all the power rests with the Sellers. Let’s change that a bit. While I might like to see Sellers of priv...
12/30/2017
  Agency:  Duties may be delegated to others (Ontario)Question:As a general rule, an agent is expected to carry out the agency duties personally, since the principal expects the agent to accomplish the task the agent was given. However, there are circumstances under which an agent’s duties may be...
12/29/2017
Construction Industry – Fair Bidding System (Documents)Owner / ArchitectThe Owner employs an Architect to come up with plans to construct a building. Once satisfied with the final revisions, the project will “go out to tender”.Basically, that means the Architect will contact a number of construct...
12/29/2017
A System with Fair Rules (not in Ontario)Should we bother having a system with fair rules?  Right now, it’s rigged in favour of the Seller. So, who cares! Let’s just continue with it, the way it is. Why does it need to be fair? After all, once the buyer pays enough money, then they are a homeowne...
12/28/2017
Three Models for Bidding in the Real Estate industryEssentially, there are three possible models to choose from for the real estate industry:1)    Open Bidding System,2)    Closed Bidding System,3)    Cheating Bidding System.The Open Bidding SystemThis system works relatively efficiently. This is...
12/28/2017
Death of Seller or Buyer in OntarioQuestion:If a seller signs a listing agreement with a brokerage, but dies before any offers have occurred, is the contract binding on the heirs of the seller to continue offering the property for sale? If the same thing happens but with an offer situation, what ...
12/28/2017
Witnessing an Agreement in OntarioQuestion:The Witness of (or at) an Agreement of Purchase and Sale:(A) Full legal name of the witness must appear of the agreements.(B) Any competent person can be witness the agreements(C) The witness must date his / her signature in the space provided. Answer:Al...
12/28/2017
Registration of Deed in OntarioQuestion:Mr. and Mrs. Jones buy a property and receive a deed from the sellers, which they take to Registry Office and register in the Registry System.Does this now mean they are the legal owners of the property? Consider the following proposed responses:(A) Yes, on...
12/28/2017
Resumption of Co-habitation by Divorced Couple (Ontario)Question:If a divorced couple decided to live together again, does the non-owner have any rights in the property under the Family Law Act? Consider the fact that they have children together.Answer:This is not a matrimonial home under any cir...
12/28/2017
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Brian Madigan

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