Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2017 

Brian Madigan’s Comments on OREA’s “NEWS” ReleaseRecently, OREA has decided to part company with RECO and approach the public independently. Since I have been critical of RECO, I should at least level the playing field with some comments about OREA’s latest.Here is the article from OREA as publis...
06/29/2017
Toronto Market Re-balancing in June 2017The Toronto Real Estate Board (TREB) just released its mid-month report for June 2017.JUNE 2017 TREB MID-MONTH STATISTICS June 19, 2017 – Greater Toronto Area REALTORS® reported 2,999 transactions through TREB’s MLS® System during the first 14 days of June ...
06/28/2017
Government Proposes Designated Agency and Increased Fines The Ministry of Government and Consumer Services, listening to CBC Marketplace has some new solutions for the real estate industry. Here’s the notice, and you have until 24 July 2017 to respond, if you wish to do so: Phase 1 Real Estate Bu...
06/27/2017
 Indemnification on a MisrepresentationQuestion:I am trying to understand the indemnification on a misrepresentation.For instance, the listing agent descripted the sq ft in the listing according to the seller. The buyer put the offer and it was accepted. However, before the closing, the buyer fou...
06/26/2017
Estate Administration Issues in OntarioQuestion:There are 3 daughters. Mom passes and leaves 2 of them as executors. Estate to be divided 3 ways. I receive the Listing. One of the executors now decides she wants to buy it from the other 2 daughters.She does not get along with the other 2 daughter...
06/25/2017
How do you like the idea of Designated Agency and no more “double ending” in Ontario, as proposed by the Ministry of Government and Consumer Services?It’s coming to Ontario, no matter what, in a few months.Designated Agency is commonplace in many States and Provinces to the artificial conflict of...
06/25/2017
Fixed term best discounted rates & posted rates as of June 24, 2017 6 mos                                 3.10%         3.14%1yr                                     2.34%          3.04%2yr                                     2.14%          2.84%3yr                                     2.34%       ...
06/25/2017
 Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.61%*Canada housing 12/15/22 [-0.01]       5 Year - 1.14%CAN 0.50 03/01/22 [-0.02]       0.99%                       [-]                        10 Year - 1.99%Canada housing 06/15/27 [-0.01]       10 Y...
06/25/2017
Damage by Fire Prior to closing (Ontario)Question:If you bought a house today, closing in September, but it burnt down in August... Do you still have to close the deal?Answer:There are several issues which are significant. This has to be “substantial” damage. The loss of a building may or may not...
06/22/2017
What Happens if the Seller Gets “cold feet”? (Ontario)Question:What happens when the seller decides he doesn't want to sell anymore. Offer accepted, all conditions met just closing in a few weeks and now seller doesn't want to close.Answer:The Seller is going to have to close or pull out their ch...
06/22/2017
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Brian Madigan

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