Brian's Ontario Real Estate Blog

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

ARCHIVED BLOG POSTS

2019 

By Brian Madigan LL.B. Why are some contracts “sealed” and others are not? In order to have a contract, you need to have an “agreement” that the Courts will enforce. Not all statements that are made, result in enforceable promises. Remember, all the promises made at election time! Sometimes, it i...
01/30/2019
Seller Successful in Damage Award following Defaulted Transaction The Ontario Court of Appeal dealt with a rather simple and straightforward case in Vatcher v. Quazi on 7 January 2019. The Buyer, Quazi purchased a property from the Seller, Vatcher for $730,000.00 closing in August 2017. After the...
01/30/2019
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% 3.49% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.64% Fixed 10 Year 6.10% 3.89% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
01/30/2019
HIGH RATIO fixed term best discounted rates & posted rates as of January 29, 2019 Terms                           Posted Rates              Preferred Rates6 mos                          3.34%                          3.30%1 year                          3.59%                          3.19%2 year ...
01/29/2019
Acknowledgement Section in Agreement of Purchase and Sale (Ontario)Question:What is the main benefit of having the acknowledgment completed on the sale purchase agreement-      REEBA requires the acknowledgment to be completed No, this is not the case, other than the fact that REBBA does require ...
01/27/2019
Agency Delegation in OntarioQuestion:With respect to real estate brokerage in Ontario, which of the following statements best describes the delegation of an agent's duties:a. The listing salesperson is not qualified to sell the property, so he lists it on MLS.b. The listing brokerage's duties are...
01/27/2019
Basic Agency (Ontario)Question:Which of the following statements best describe the concept of agency:a. An agent is a representative who is expected to have greater expertise then the principal for the task to be performed.b. An agent is a representative who own fiduciary duties to the customers ...
01/27/2019
Commercial Bond Yields CMB 5 Year - 2.30%* CANHOU 06/15/24 [+0.01]   ‌ 10 Year - 2.48% CANHOU 12/15/28 [+0.02]   10 Year - 2.51%* CANHOU 09/15/29 [+0.02] * denotes interpolated rate GoC 5 Year - 1.89% CAN 2.00 09/01/23 [+0.02]   ‌ 10 Year - 1.97% CAN 2.0 06/01/28 [+0.03] GOC Bonds are for refere...
01/25/2019
Tax Fairness for Real Estate Professionals (Ontario)Tax Fairness for Real Estate Professionals is now Bill 38.It passed Second Reading and was sent to Committee on 18 October 2018. The Committee could make some changes. Then it will come back to the Legislature for Third Reading.All three politic...
01/23/2019
Co-operatives and Co-ownership  in OntarioQuestion:I am having difficulty understanding the difference and which Forms to use.Answer:Co-Operative – the Corporation owns the real estate, you are just a shareholderCo-ownership – you actually own a percentage interest and you are on title  For a Co-...
01/23/2019
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