Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2018 

Executing an Agreement using a Power of Attorney in OntarioQuestion:How should someone sign who holds a Power of Attorney?Answer:Remember that a POA is a piece of paper, and the person to whom authority was granted is called the “Attorney”The proper way to sign is: 1)    sign the Principal’s name...
04/22/2018
Irrevocable Clause (Ontario)Question:I understand the meaning of irrevocability in an offer however I'm a bit confused by this statement."The offer can be revoked only before communication to the other party."If an offer was drawn up and had an irrevocability of April 22 at 11:59pm and they were ...
04/22/2018
Thermostat: A Fixture or ChattelQuestion:Is it okay for a seller to switch out the Nest Thermostat before closing if it isn't mentioned in the Agreement of Purchase and Sale?Answer:The real issue here is whether the thermostat is a fixture or chattel. If it’s a fixture, it stays. If it’s simply a...
04/22/2018
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.45%*CANHOU 06/15/23 [-0.02]       5 Year - 2.15%CAN 1.0 03/01/23 [-0.01]       1.62%                     [-]                       10 Year - 2.69%*CANHOU 03/15/28 [-]       10 Year - 2.31%CAN 1.0 06/01...
04/22/2018
HIGH RATIO fixed term best discounted rates & posted rates as of April 21, 2018 Terms                           Posted Rates              Preferred Rates 6 mos                          3.14%                          3.10%1 year                          3.04%                          2.99%2 year  ...
04/22/2018
Searching Title: Requisitions and Objections RemovalWhat should be the normal periods? What’s fair and reasonable? What makes sense from the Buyer’s perspective? What makes sense from the Seller’s point of view?Let’s start out with the rules!You can find the default provisions under the Vendors a...
04/19/2018
Statutory Severance of Joint Tenancy (Ontario)Question:Section 26(1) of the Family Law Act, what does it mean?Spouse without interest in matrimonial homeJoint tenancy with third person26 (1) If a spouse dies owning an interest in a matrimonial home as a joint tenant with a third person and not wi...
04/18/2018
When Does a Seller have to Mitigate in a DefaultedTransaction? (Ontario)This is an interesting question and hundreds of thousands of dollars can turn on the answer.Recently, the Ontario Superior Court of Justice had to consider that question. The Buyers, Hu and Lea entered into an Agreement of Pu...
04/17/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.99% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.04% Fixed 4 Year 3.89% 3.39% Fixed 5 Year 5.14% 3.19% Fixed 7 Year 5.30% 3.39% Fixed 10 Year 6.10% 3.79% Variable Rate 2.40% Prime Rate 3.45% Benchmark Rate 5.14% Cost per ...
04/17/2018
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.99% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.04% Fixed 4 Year 3.89% 3.39% Fixed 5 Year 5.14% 3.19% Fixed 7 Year 5.30% 3.39% Fixed 10 Year 6.10% 3.79% Variable 2.40% Prime 3.45% Benchmark 5.14%
04/16/2018
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Brian Madigan

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