ARCHIVED BLOG POSTS
2011
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What is an Acceleration Clause? Ontario Real Estate Source By Brian Madigan LL.B. This is a clause in a mortgage which triggers the obligation to repay the entire principal sum outstanding in advance of the time that it is otherwise due. Consider a borrower who pays $1,200 per month on his $13...
09/30/2011
Ontario Real Estate Source By Brian Madigan LL.B., Broker It seems unusual but small companies are moving into the downtown core and large companies are moving out. Many properties orginally zoned for "office space" have be rezoned for a combination of "commercial and residential". Two good exam...
09/30/2011
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What Does “Absorption Rate” Mean? Ontario Real Estate Source By Brian Madigan LL.B. This is the rate at which homes are being sold on a monthly basis. It is based on a particular market area. Assume that there are 2,400 homes listed for sale in a particular market. And, we know that 200 ...
09/29/2011
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Real Estate Sales Professionals in Ontario Ontario Real Estate Source By Brian Madigan LL.B. Sometimes it’s difficult to keep track of the terminology. Everyone seems to think that a real estate agent is a salesperson who has a listing. In Ontario, the terminology is governed by the Real Est...
09/29/2011
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Ontario Real Estate Source Terms Bank Rates Preferred Rates 6 Month 4.45% 4.40% 1 YEAR 3.50% 2.75% 2 YEARS 3.85% 2.49% 3 YEARS 4.35% 2.89% 4 YEARS 4.79% 2.99% 5 YEARS 5.19% 3.39% 7 YEARS 6.35% 4.49% 10 YEARS 6.75% 4.79% Rates are subject to change without notice. *OAC E&OE Prime Rate is 3.00% If ...
09/29/2011
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Question: What are the legal obligations with respect to multiple representation? Answer: In Ontario, a real estate broker or sales representative must: 1) explain multiple representation before a listing, 2) obtain the client's informed consent prior to multiple representation, and 3) disclose r...
09/28/2011
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Ontario Real Estate Source If you would like a referral to a mortgage broker, then please call me at 905-796-8888. Terms Posted Rates Preferred Rates 6 MONTHS 4.45% 4.40% 1 YEAR 3.50% 2.75% 2 YEARS 3.85% 2.84% 3 YEARS 4.35% 2.89% 4 YEARS 4.19% 2.99% 5 YEARS 5.24% 3.44% 7 YEARS 6.35% 4.49% 10 YEAR...
09/28/2011
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When is the Spousal Consent Necessary? Ontario Real Estate Source By Brian Madigan LL.B. The spousal consent is required in cases where: 1) the property is a matrimonial home, and 2) the title is registered in the name of one spouse alone. The other spouse (without title) must provide...
09/25/2011
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What is the Purpose of a Marriage Contract? Ontario Real Estate Source By Brian Madigan LL.B. The general purpose of a marriage contract will be to resolve contentious issues in advance of a breakdown in the marriage. This could deal with support, custody, and the division of property. It...
09/25/2011
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Free-Standing Dishwasher Ontario Real Estate Source By Brian Madigan LL.B. The determination of whether or not something is included or excluded arising from a standard form agreement of purchase and sale depends upon: 1) whether it is listed as included, if so, it will be included, 2) ...
09/25/2011
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Brian Madigan
LL.B., Broker
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