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 

Amending an Expired Buyer Representation AgreementQuestion:Since you can't cancel a buyer representation agreement that has already expired and you cannot amend something that has already expired, how can you cancel out the hold over period for someone in an expired BRA?Answer:Your premise here w...
01/11/2018
Real Estate Performance over Ten Years (2008 to 2017)Recently, we calculated that the Five years performance was a 10.71% annual increase over 5 years.I think a five year history is a fairly good indicator of the market., but ten years might be better.The average sale prices as reported by TREB f...
01/09/2018
2017 Sees an 18.3% Decline in Sales VolumeThis is the recently released report from TREB:GTA REALTORS® Release December/Annual Stats TORONTO, ONTARIO, January 4, 2018 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 92,394 sales through TRE...
01/08/2018
Multiple Representation and Referral (Ontario)Question:If I sent a buyer referral (a Buyer Representation Agreement was signed previously) to a salesperson (different brokerage) in an area I don't cover, they find a property but it is listed out of area by one of the sales people from our brokera...
01/08/2018
Contract Formation in OntarioQuestion:You take an offer of $145,000 to a seller who refuses the price but agrees to a sign back for $150,000, changes the sale price and initials it. No other change is made to the terms of the offer, which expires at 11:59 p.m. tonight. You return to the buyer, wh...
01/06/2018
Contract Formation Time in OntarioQuestion:You take an offer of $145,000 to a seller who refuses the price but agrees to a sign back for $150,000, changes the sale price and initials it. No other change is made to the terms of the offer, which expires at 11:59 p.m. tonight. You return to the buye...
01/06/2018
Matrimonial Home Issues in OntarioQuestion:1) I know a Matrimonial home can be owned but can it also be leased or rented as long as it is used yearly?2) Can you have more than 1 Matrimonial home? Or is 1 or designated as the matrimonial home? (the one the couple is living in yearly).Answer:A matr...
01/04/2018
Spousal Consent and the Father-in-law’s House (Ontario)Question:Husband and wife live in a house. It is owned by the father of the husband. They separate and he's looking to sell.Is this a matrimonial home? Spousal consent required?The husband and wife pay all of the expenses.Answer:Yes and No.1)...
01/04/2018
Multiple Offers – New Fair Rules in OntarioUp until now, the rules have been fair for Sellers, but not particularly for Buyers. With some small changes we could probably level the playing field somewhat.Standard OfferThe Listing Agent could draft up a standard Offer, specifying exactly what the S...
01/03/2018
Local Improvement Rates in Ontario Question:A few weeks after closing the Buyers client call their salesperson Joe and they are very upset. They have received a notice from the municipality that an additional $2,200 will be added to the property tax bill over and above the $3,800 expenses for the...
01/03/2018
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Brian Madigan

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