Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
Material Facts Checklist in OntarioMany agents in simply believe that there isn’t one at all.That’s not true. It’s Form 820 entitled “Residential Information Checklist”.There are also some additional Schedules set out in Forms 821 to 826.This is very important. Certainly, if you go to Court and y...
11/02/2019
Material Latent Defect: Owner filled swimming pool: Didn't discloseQuestion:An owner purchased a house with swimming pool. He decided he doesn't want the pool. He hires a few guys to fill in the pool and covers it over with grass.Time comes to sell the property. He doesn't disclose it. Property i...
11/02/2019
HIGH RATIO fixed term best discounted rates & posted rates as of October 31, 2019 Terms                        Posted Rates                 Preferred Rates 6 mos                          3.34%                          3.30%1 year                          3.59%                          2.69%2 year...
10/31/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.19% Cost per ...
10/30/2019
Timing of Execution of Confirmation of Acceptance (Ontario)Question:The COA is signed after irrevocable expires.If all on board what REALLY can happen?Answer:The COA MUST always be signed following true acceptance. More than half the time it's signed too early. And, by the way, the irrevocable ti...
10/30/2019
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/30/2019
Usual ExampleBob acts for Sam the Seller and Mary acts for Bill the Buyer.Bob and Sam sit together at Sam’s dining room table and go through the process of accepting Bill’s Offer. Mary and Bill are at Mary’s office.8:00 pm      Irrevocable time7:30 pm      Mary leaves Sam’s house7:40 pm      Sam ...
10/22/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.19% Cost per ...
10/22/2019
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/21/2019
Improper Execution of the COAMore often than not, an improper time was inserted into the COA. No one read the memo from OREA explaining the differences between the COE and the COA. Actually, that was a bit of a problem: there wasn’t one.So, many agents simply continued with the old practice of th...
10/19/2019
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Brian Madigan

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