ARCHIVED BLOG POSTS
2017
Sometimes the Last Day Doesn’t Count (Ontario)While it may sound to be a rather simple task, “counting” has some rules.Sometimes, the last day doesn’t count.Complete this in 5 days 5 daysYou have 5 days to do this 5 daysNot later than 5 days ...
12/10/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.05%*CANHOU 06/15/23 [+0.01] 5 Year - 1.66%CAN 1.0 09/01/22 [+0.01] 1.37% [-] 10 Year - 2.30%*CANHOU 03/15/28 [+0.02] 10 Year - 1.86%CAN 1.0 0...
12/08/2017
Extending the Closing Date with an Enforceable Term (Ontario) Question: Looking for a good clause for a flexible closing date that is mutually acceptable to both buyer and seller? Both Buyer and Seller want to have the option of moving the closing date if needed since both parties have a house to...
12/07/2017
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Counting the Conditional days in OntarioQuestion:The confirmation of acceptance was signed on Thursday at 1:30pm.According to this clause...what would be the last day?This Offer is conditional upon the Buyer arranging satisfactory financing within 5 banking days of the date of acceptance……Answer:...
12/07/2017
Seller’s Furnace Warranty ExpirationQuestion:How you all interpret “completion of transaction” in this clause:“The parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property at completion of this t...
12/07/2017
Fixed term best discounted & posted rates as of Dec 4, 2017 6 mos 3.10% 3.14%1yr 2.64% 3.04%2yr 2.54% 3.24%3yr 2.69% 3.44%...
12/04/2017
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Agent Fails to see SPIS Grow House Disclosure (RECO Discipline) We have a property that used to be a grow house. We have the Sellers complete a Seller Property Information Statement, and yet Alvin Presley acts for Martha when she purchases the property without any knowledge that it was ever a for...
12/03/2017
Publishing Recent Sold Prices on the Internet: TREB and Competition IssuesThese problems have been going on for quite some time. There is a decision of the Federal Court of Appeal on point (1 December 2017), that goes against the Toronto Real Estate Board’s position, so they may indeed appeal to...
12/03/2017
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Legality of Using Old Forms (Ontario)Question:I received an offer where APS version used is 2013 form. Can this be acceptable?Answer:There is a requirement to use current Forms. So, this would be three years out of date. There have been some changes, but the deal between the parties is still a va...
12/03/2017
Countering an Offer is also a Rejection (Ontario)Question:You receive an offer for your sellers. They want to sign it back just a little bit higher, but are afraid of losing the offer. We've had the conversation of all that can happen with it if it gets sent back. The Buyer’s agent is giving me a...
12/03/2017
Rainmaker
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Brian Madigan
LL.B., Broker
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