Mortgage Fraud and the Oklahoma Offer By Brian Madigan LL.B.What is an Oklahoma Offer!Actually, it's a simple form of real estate fraud. There are variations depending upon how many parties are involved and who is the intended victim.So, let's look at two examples, in the first the victim is th...

01/12/2009

The Two Spring Markets

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The Two Spring Markets By Brian Madigan LL.B.Just about everybody wants to know when the Spring real estate market begins. Actually, so do I. It's different each year!If you were to examine the market from an historical perspective, you will probably find that there are two distinct markets. Th...

01/11/2009

December 2008 Toronto and GTA Monthly Performance

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December Monthly Performance GTA By Brian Madigan LL.B.The Toronto Real Estate Board has reported its December statistics. The average price declined about 2% from November (1.94%) to $361,415 (from $368,582), This is for single family homes in the GTA.The reported sales are off almost 42% (41....

01/09/2009

Fire Damage: Buyer's Options

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Fire Damage: Buyer's Options By Brian Madigan LL.B.What happens if the house burns down before closing? Obviously, this leaves both the seller and the buyer in a quandary in terms of completion.So, assuming that there has been some damage, what does the contract say? The standard form agreement...

01/09/2009

Warning Clauses in agreements by Realtors

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Warning Clauses in Agreements by Realtors By Brian Madigan LL.B.Within the last few years it has become increasingly common for realtors to place warnings within the terms of the agreement of purchase and sale. Precedents for such clauses abound, and the following is an example:"The Buyers ackn...

01/08/2009

Photographs can come in Handy!

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Photographs Can Come in Handy! By Brian Madigan LL.B.Most homeowners spend a lot of money on landscaping, from trees and shrubs to perennials and annuals. However, when they go to sell their home they don't even have one decent picture. Sure, they may have pictures of the family with some trees...

01/07/2009

First Impressions

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First Impressions By Brian MadiganYou only get one chance to make a first impression, so let's make it count.Oftentimes, when sellers are getting their homes ready for sale they concentrate on the inside of the house. There's nothing wrong with that. That's what all the magazines say to do; but...

01/06/2009

Renovate the Basement

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Renovate the Basement By Brian Madigan LL.B.Let's assume that you have decided to sell your house, but you have never finished the basement.In the case of a two-storey house, one third of the potential living space is in the basement and for a bungalow it's half. That's a lot of space and if yo...

01/05/2009

The Money Tree

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The Money Tree! By Brian Madigan LL.B.If I were to tell you that I have an investment for you that will provide you with a tax free return of over 1,000 per cent, you'd think that I was crazy.However, this opportunity is available to many homeowners. What is the best improvement that you can mak...

01/05/2009

Foreclosure and Power of Sale

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Foreclosure and Power of Sale By Brian Madigan LL.B.There are two remedies provided to mortgagees who find their mortgages in default, assuming that simply waiting for payment is not appropriate:1) power of sale,2) foreclosure.Power of sale is a relatively simple remedy. It involves taking poss...

01/04/2009