ARCHIVED BLOG POSTS
2017
Seller Can’t End the Deal Because of Separation Issues (Ontario)Question:I am the Listing Agent.The Sellers, a young husband & wife are both on title, and they have been separated for only a few months without filing for any legal proceedings. They sold their investment property a few months ago....
06/22/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.34% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.54% 7 YEARS 5.30% 3.14% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.00%
06/21/2017
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.34% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.29% 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 1.95% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
06/20/2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.34% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.29% 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 1.95% Prime 2.70% Benchmark 4.64%
06/19/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.34% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.54% 7 YEARS 5.30% 3.14% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.00%
06/12/2017
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Working for a “Friend” (Ontario)Question:A "friend" just asked me to help him write the purchase agreement for him to privately buy his wife’s former family cottage. Of course, he does not want to pay me.Answer:You cannot contract out of the liabilities imposed upon you under the Real Estate and ...
06/11/2017
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Having My “own” Offer (Ontario)Question:Offers tomorrow and one is mine. Can I ask another agent to help with the forms, presentation and negotiations? I don't feel comfortable in multiples, if my own client is successful.Answer:Yes, get another agent involved. Your Broker may do this for you for...
06/11/2017
Real Estate Agent’s Advertising “Specialties” in OntarioQuestion:RECO recently published a comment to the effect that registrants could advertise a specialty. I thought this was against the law in Ontario?Answer:REBBA, 2002 used to prevent the use of the term “specialty”. The problem was that th...
06/11/2017
Here are OREA's comments:Mike Cusano, Chair Joe Richer, Registrar Real Estate Council of Ontario West Tower, 3300 Bloor St W #1200 Etobicoke, ON M8X 2X2Dear Mike and Joe:In light of the recent For the RECOrd column, OREA is quite concerned with RECO implying that escalation clauses are permissib...
06/11/2017
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Escalation ClausesWhen can you use them?Why would you use them?How do you use them?There’s a good deal of discussion these days about escalation clauses. Both RECO and OREA have published advice within the last week.There is a right way and a wrong way of handling these, and you will not find it ...
06/11/2017
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