ARCHIVED BLOG POSTS
2016
Use of Maiden Name Might Conceal ExecutionsQuestion:Is it proper to use the maiden name of a married woman, because the property was originally acquired in that name? Answer:Assume Mary Smith purchased the property and subsequently married James Brown, and changed her name to Mary Brown. She’s NO...
11/30/2016
Returning the Deposit in a Failed TransactionWhat documents do you need?You are going to have to have some paperwork for the file. If the deal fell through and the deposit is to be returned to the Buyer then you will need:1) A Mutual Release, or2) A Court Order.Where did I get that idea? Ac...
11/30/2016
Seller’s Remedies Having Signed a Mutual ReleaseYou can probably imagine that a Seller may be upset, sign a Mutual Release and then regret it afterwards. This would particularly be the case if the Seller felt that he received improper advice in respect to signing the Mutual Release.So, consider t...
11/28/2016
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
11/28/2016
Fixed term best discounted & posted rates as of November 30, 2016 6 mos 3.10% 3.14%1yr 2.29% 3.04%2yr 2.14% 2.84%3yr 2.24% ...
11/28/2016
Execution of the Mutual Release in Real Estate TransactionsThe issue presents itself with every failed transaction. Sign the Mutual Release, give the Buyer his deposit and move on.But, is that really the best idea?In a number of transactions, the Buyer will be in breach of contract. In those case...
11/28/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.59% 7 YEARS 5.30% 3.09% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.30%
11/28/2016
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Mutual Releases In Ontario Question:If a deal gets accepted and the buyer says they changed their mind before delivering deposit, is a mutual release still required? What's everyone's take on whether Is the deal is null and void if the deposit isn't delivered? Can a buyer just say they changed th...
11/27/2016
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Failed DepositsIf the Buyer enters into an Agreement of Purchase and Sale, there are consequences if the deposit is not paid: A late deposit is a breach of contract, That particular breach is a breach of an essential term of the contract, This breach gives rise to certain ...
11/27/2016
TERM POSTED PreferredRATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per $...
11/27/2016
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