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 

The Two Parts of Every Legal Decision If a Judge has issued “Reasons for Judgment”, then you will find that there are two parts: 1.     Ratio, and 2.     Obiter. In relying upon the case, as a precedent in future cases, you must make the distinction. Meaning of "Ratio Decidendi"When it comes to t...
12/16/2018
“More or Less” in the Legal Description: The MeaningThe Ontario Court of Appeal dealt with the issue of the determination of an 11 foot deficiency on a 172 foot depth in Bouskill v. Campea,1976.Ms. Bouskill was the owner of a piece of property in Mississauga which she listed for sale with a real ...
12/16/2018
Lot Falls Short of “more or less”: Deposit ReturnedThe Ontario Court of Appeal just released a decision about a deposit on 12 December 2018 in Hosseinzadeh v. Pringle.The case is rather straightforward. The parties were troubled over the description of the property. The Purchaser was a Builder an...
12/14/2018
Agreements: Residential and Commercial (Ontario)Question:What are the differences between Form 100 (residential) and Form 500 (Commercial).Answer:Look at Clause 7 which deals with the HST.In Form 100, it’s included in the purchase price.In Form 500, it’s in addition to the purchase price.There ar...
12/14/2018
Planning Act Consent is a True Condition Precedent (Ontario)Question:My understanding is that Land Severance is a True Condition Precedent - and no agreement exists if severance is rejected. I found the below two options in the material- 1. - Agreement of Purchase and Sale will become Null and Vo...
12/14/2018
Commercial Bond Yields CMB 5 Year - 2.50%* CANHOU 06/15/24 [-0.01]   ‌ 10 Year - 2.66% CANHOU 12/15/28 [+0.01]   10 Year - 2.69%* CANHOU 09/15/29 [+0.01] * denotes interpolated rate GoC 5 Year - 2.06% CAN 2.00 09/01/23 [-]   ‌ 10 Year - 2.12% CAN 2.0 06/01/28 [+0.01] GOC Bonds are for reference ...
12/14/2018
Terms                           Posted Rates                 Preferred Rates 6 mos                          3.34%                          3.10%1 year                          3.59%                          3.19%2 year                          3.74%                          3.19%3 year           ...
12/13/2018
Deposit of 5% Forfeited notwithstanding Profit on ResaleThe issue of the deposit came up once again in the Superior Court of Justice before Justice Shaw in Sinha v. Shabestari, 16 January 2018.                                                                       Summary of the Deal         vendo...
12/11/2018
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%
12/11/2018
Automatic Forfeiture of Deposit Clause (Ontario)Question:Is there a clause that says if the Buyer firms up but fails to close that the deposit will automatically go to the Seller? Answer:It's ineffective, if someone opposes it. But, that's the effect if you call it a deposit. If you call it a par...
12/09/2018
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Brian Madigan

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