ARCHIVED BLOG POSTS
2018
Leaky Shower Discovered after Closing (Ontario)Question:Following the closing, my Buyers discovered that the shower on the second floor was leaking. There’s a wet spot on the ceiling in the family room. The property was newly renovated and the Seller never lived there. Answer:Your Clients purchas...
12/21/2018
Commercial Bond Yields CMB 5 Year - 2.41%* CANHOU 06/15/24 [+0.07] 10 Year - 2.56% CANHOU 12/15/28 [+0.06] 10 Year - 2.59%* CANHOU 09/15/29 [+0.06]
12/21/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.19% Fixed 3 Year 3.89% 3.39% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.74% Fixed 10 Year 6.10% 4.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
12/21/2018
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Contamination or Not: You Bought it, You’re Stuck The Purchaser acquired a property in Etobicoke which was zoned and used for industrial purposes. The purchaser, in fact, owned a property nearby, so he was quite familiar with the neighbourhood. The Purchaser wanted to rezone the property and deve...
12/19/2018
Terms Posted Rates Preferred Rates6 mos 3.34% 3.10%1 year 3.59% 3.19%2 year 3.74% 3.19%3 year ...
12/19/2018
Purchaser Must Pay Damages for Repudiation of ContractThe Ontario Court of Appeal dealt with the repudiation of a contract arising out of a boundary issue by a Purchaser in LeMesurier v. Andrus, 1986.The purchasers (Andrus) submitted an Offer for 9 Dinnick Crescent described as:"having a frontage...
12/18/2018
Remedies for Damaged but Brand New Appliances (Ontario)Question:Brand new “damaged” appliances were included in a Newly Built Home.The second Buyer moved into the house when it was about 4 months old. The Seller had bought brand new appliances about 3 months previously but they were never used be...
12/18/2018
Expert Witness Testified about Value of PropertyIn Bouskill v. Campea (1976) the Ontario Court of Appeal noted the testimony of an Expert WitnessAs noted in the decision:“An expert witness testified at the trial that the deficiency would be significant to a purchaser contemplating subdivision.”In...
12/17/2018
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.19% Fixed 3 Year 3.89% 3.39% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.74% Fixed 10 Year 6.10% 4.04% Variable 2.90% Prime 3.95% Benchmark 5.34%
12/17/2018
New Funds for an Extended Closing DateFrom time to time, the Seller agrees to extend the closing provided the Buyer agrees to pay an additional fdeposit. But, this time, the Seller keeps it if the deal doesn’t close on the extended date.Here’s what that clause might look like:“The Buyer agrees to...
12/16/2018