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By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
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% 3.09% Fixed 4 Year 3.94% 3.19% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.44% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Here are some Basic principles about tort law as it applies to real estate:·        Real estate agents will be sued under the law of torts for negligence in their duties, not contract·        Misrepresentations fall under the law of torts·        Law of deceit permits termination of contracts and...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Confidentiality and the Unsuccessful Listing “Pitch” (Ontario)Question:If something comes up in a listing presentation, does the unsuccessful agent have to maintain silence?Answer:They made the pitch for agency. Fiduciary duties apply. They were unsuccessful, but they still have to maintain confi...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
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% 3.09% Fixed 4 Year 3.94% 3.19% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.44% Variable 2.95% Prime 3.95% Benchmark 5.34%

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Estoppel and Ratification ExamplesSimple examples: EstoppelFor years, I have had my secretary order and pick up a pizza. I pay when I’m in the next week. I can’t simply tell the restaurant that I’m not paying for last week’s pizza. That’s estoppel. I could tell them I won’t be paying any more. Th...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.00%* CANHOU 06/15/24 [-0.04]   ‌ 10 Year - 2.26%* CANHOU 09/15/29 [-0.06] * denotes interpolated rate       GoC 5 Year - 1.66% CAN 2.50 06/01/24 [-0.05]   ‌ 10 Year - 1.78% CAN 2.0 06/01/28 [-0.05] GOC Bonds are for reference purposes only Floating rate insu...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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% 3.09% Fixed 4 Year 3.94% 3.19% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.44% Variable 2.95% Prime 3.95% Benchmark 5.34% Rates may vary provin...

By Gloria Valvasori, Accredited Senior Agent, REAL Experience | REAL Commitment | REAL Results!
(BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE)
Comments 0
The Spring market has arrived and is in full force.. all the categories rose, with the exception of Days on Market, indicating the market is brisk and properites are sellling in less time than the month before. 

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
HIGH RATIO fixed term best discounted rates & posted rates as of April16, 2019 Terms                           Posted Rates               Preferred Rates 6 mos                           3.34%                          3.30%1 year                          3.59%                          3.19%2 year ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Buyer’s Last Visit to Property Before ClosingQuestion: What should you actually be doing at the Buyer’s last visit?Answer:This situation is very well-handled in several other jurisdictions, particularly where Title Insurance companies handle the transfer. Someone from the insurance company comes ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Estoppel and Ratification DistinguishedThe two concepts of ratification and estoppel are somewhat similar, but they are different in the sense of the confirmation. In both cases, the agency relationship was not clear and defined, and it took a subsequent act to make the antecedent agreement, a va...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Chattels is a very broad concept, and while attachment is important, the intention and purpose of the attachment are the determining factors;visual inspection is all that is necessary,contracts are irrelevant

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Too Much Information Presents Ethical Dilemma (Ontario)Question:I attend a listing appointment and the Seller says: “I have had water in my basement but you cannot tell anyone.”I explain that we need to disclose, he refuses. I then walk away from the listing.It is now listed with another sales pe...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Problems with Alignment During ConstructionQuestion:Client loves a home that is under construction. The home is vacant and half finished. During our due diligence it turns out that the addition on the back of the home failed an inspection, the north wall is on a slight angle (shouldn’t be) and is...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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% 3.14% Fixed 4 Year 3.94% 3.29% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.54% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto and GTA Markets in March 2019 This is the recently released report of the Toronto Real Estate Board concerning the March 2019 results: GTA REALTORS® Release March 2019 Stats TORONTO, ONTARIO, April 3, 2019 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto A...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.00%* CANHOU 06/15/24 [+0.05]   ‌ 10 Year - 2.26%* CANHOU 09/15/29 [+0.05] * denotes interpolated rate       GoC 5 Year - 1.66% CAN 2.50 06/01/24 [+0.07]   ‌ 10 Year - 1.77% CAN 2.0 06/01/28 [+0.06] GOC Bonds are for reference purposes only Floating rate insu...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
HIGH RATIO fixed term best discounted rates & posted rates as of April 9, 2019 Terms                          Posted Rates              Our Rates6 mos                          3.34%                          3.30%1 year                          3.59%                          3.19%2 year           ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Debate over the Title SearchQuestion:What is included in the title search?a,. liensb. outstanding mortgagec. taxesd. easements Various answers were provided as to which answers were correct. Answer:This is really not a good question. Some liens, some easements and some taxes are registered agains...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Referral Fees and Finder’s Fees (Ontario)Question:What are Referral fees and Finder’s fees?Answer:A referral fee paid between two brokerages is paid once the sale has closed and it is taken from the commission paid to the brokerage who transacted the sale. The referral fee would then be sent to t...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Signatures and Initials in OntarioQuestion:I have a client who timed out while signing  under an electronic software program and now he's unable to sign and it only lets him initial. I've tried sending it as a new doc but it won't take him to the signature page. Answer:Important to be aware of th...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
 Latent and Patent Defects, and Material FactsThe matter of patent and latent defects falls under the law of real property and the issue of disclosure.A Patent defect is clear, apparent, observable and not hidden from view.A Latent defect is not readily apparent to the eye and can only be determi...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 1.93%* CANHOU 06/15/24 [-0.01]   ‌ 10 Year - 2.20%* CANHOU 09/15/29 [-] * denotes interpolated rate       GoC 5 Year - 1.57% CAN 2.25 03/01/24 [-0.01]   ‌ 10 Year - 1.70% CAN 2.0 06/01/28 [-] GOC Bonds are for reference purposes only Floating rate insured cost...

By Gloria Valvasori, Accredited Senior Agent, REAL Experience | REAL Commitment | REAL Results!
(BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE)
Comments 1
 Market Statistics for the Mississauga area for March, 2019  Number of Sales were down 7.28% compared to March, 2018 Average Sales price increased by 3.07% from $716,690 to $738,673 Average days on Market increased by 4.36% Average Selling/List Ratio increased by 1.02% from 98% to 99% New listing...

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