ARCHIVED BLOG POSTS
2019
Inspection Conditions for “As Is” PropertiesQuestion:If a house is being sold "as is" can you personally pay for a building inspector as a condition if you put a bid on it?Answer:All real estate is sold “as is”. The only exception would be “new builds” with a Tarion Warranty.The question, of cour...
01/15/2019
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Absolute Discretion Clause in OntarioNumerous clauses will state “…the he Buyer’s sole and absolute and unfettered discretion…”.The difficulty with the clause as it stands is that it may easily give the novice or the uninformed the wrong impression. However, things are slow to change, so I suspec...
01/14/2019
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 ...
01/14/2019
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Two Types of Sub-AgencyIt’s important to appreciate that there are two types of sub-agency, one with the knowledge, permission and consent of the Principal and one without.The basic common law is that an agent has to perform and cannot delegate the tasks to someone else.Agents who do delegate, ei...
01/13/2019
Holdover Explanation: Is it Sufficient? Here is the redlined explanation which is commonly distributed:“COMMISSION: The following section declares the total fee that the Seller has agreed to pay to the real estate company if they are successful in selling the property. It also indicates a period ...
01/13/2019
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Disposing of Files in OntarioQuestion:When can I finally throw things out?I have been in the real estate business for twenty years. What do you have to physically keep when it comes to "real estate stuff?" Answer:Physically retain 100% of every file you think could result in an action. For everyt...
01/12/2019
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Claim Over in LitigationIf there is a lawsuit against a party, the person “suing is the Plaintiff and the person who is being sued is the Defendant. Sometimes, there is more than one Defendant.Here’s what happens if, the person being sued also has a claim:1) Counterclaim, if it’s against the P...
01/12/2019
Continuation of Holdover ClauseIf you use the standard OREA Suspension or Cancellation Forms, the holdover clause will protect you until it expires.It would not continue if the contract is otherwise terminated. So, if a Seller wants rid of it, then they either would:1) not use the OREA Cancellati...
01/12/2019
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Brian Madigan AEA Courses: “Just Deposits”Seminar: "Just Deposits" 17 January 2019This is a FREE “promotional” ProgramWhat are the Real Estate Agent’s Duties when it comes to Deposits? • Is a deposit required? • When is it due? • Contract Start Time. • Counting time. • What happens if the deposit...
01/11/2019
Commercial Bond Yields CMB 5 Year - 2.34%* CANHOU 06/15/24 [-] 10 Year - 2.50% CANHOU 12/15/28 [-] 10 Year - 2.53%* CANHOU 09/15/29 [-] * denotes interpolated rate GoC 5 Year - 1.89% CAN 2.00 09/01/23 [-0.01] 10 Year - 1.95% CAN 2.0 06/01/28 [-0.01] GOC Bonds are for reference purposes...
01/11/2019
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