ARCHIVED BLOG POSTS
2017
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Ratification: Buyer’s AgentWith ratification, we have an agency appointment "after the fact".Let's look at an example of this situation.Agent Bob is a great site assembler. He gets four people to agree to sell. He needs the fifth which is in the middle to put it altogether.He submits an Offer, "B...
12/17/2017
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Delayed Possession Date (Ontario)Question:How do you approach the issue of closing early but renting to seller for two months (something that would ensure they actually do leave on xx date)?Answer:While it seems initially attractive to prepare a simple 2 month Lease this provides the Seller with ...
12/17/2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.64% Fixed 2 Year 3.24% 2.54% Fixed 3 Year 3.44% 2.69% Fixed 4 Year 3.89% 2.94% Fixed 5 Year 4.99% 2.94% Fixed 7 Year 5.30% 3.69% Fixed 10 Year 6.10% 3.74% Variable 2.35% Prime 3.20% Benchmark 4.99%
12/17/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.07%*CANHOU 06/15/23 [+0.03] 5 Year - 1.71%CAN 1.0 09/01/22 [+0.03] 1.37% [-] 10 Year - 2.29%*CANHOU 03/15/28 [-0.01] 10 Year - 1.86%CAN 1.0 0...
12/15/2017
Buyer Representation Agreement-Expansion of Role and Interpretation (Ontario)The following statement appears in the standard Form Buyer Representation Agreement:“This Agreement applies for the purchase or lease of one real property. Notwithstanding the foregoing, in the event that the Buyer lease...
12/14/2017
Exclusives Listings and Seller’s InterestQuestions:is there a reason a seller wouldn't be willing to see an offer from a co-operating broker if they don't have to pay commission - ie buyer pays (this is for an Exclusive Listing situation)?Also if the listing agent has a very strong potential offe...
12/11/2017
Fixed term best discounted & posted rates as of Dec 11, 2017 6 mos 3.10% 3.14%1yr 2.64% 3.04%2yr 2.54% 3.24%3yr 2.69% 3.44...
12/11/2017
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A Few Points About Joint Tenancy in OntarioIf two people acquire property as joint tenants, they must hold it 50/50. If there are three, then each must hold one-third.If it were to be 90/10, that's fine, but that's not joint tenancy, that's tenancy in common.The interest is an undivided interest...
12/10/2017
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Root of Title Example (Ontario)Let's assume that A grants the right to B to sell his property. That right is evidenced by a Power of Attorney.A dies, and the POS is no longer valid.B sells A's property to C, using the invalid POS.On closing, this is discovered and there is no solution.C is not ob...
12/10/2017
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Root of Contract and Root of Title (Ontario)Question:1) What is a good root title? I am referring to Clause 10 in te Agreement of Purchase and Sale?2) What is root to contract? Answer: The same term is used several times over with different meanings for each.When you are talking about something g...
12/10/2017
Rainmaker
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Brian Madigan
LL.B., Broker
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