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 

Fixed term best discounted and posted rates as of July 31, 2017 6 mos                                 3.10%         3.14%1yr                                     2.44%          3.04%2yr                                     2.54%          2.84%3yr                                     2.69%          3...
07/31/2017
Buyer Default – Consider Bridge FinancingUsing this a source, it’s either unsecured or secured.Unsecured is BestThe Bank will provide the bridge financing that you need. If you have an unconditional sale, closing at a later time, after your purchase, this really is the route to go.The Bank will b...
07/30/2017
Defaulted Sales in Ontario In the Spring and Summer of 2017, the real estate market has been volatile, first sharply up, then sharply down. It would appear perhaps that the market has almost levelled out somewhat.The Spring plateau appeared to run from 22 March to 22 April.This resulted in severa...
07/30/2017
Listing the House following a Defaulted Sale (Ontario)Question:How soon the seller has to put his house back on the market, after the buyer does not close, in order to sue?There is no period of time. The Seller can sue immediately after the defaulted closing. In fact, the Seller doesn’t have to p...
07/30/2017
Seller Has Legal Obligation to Update Representations at ClosingThe matter of the Remedy of Rescission has been raised again in a recent Ontario case Beatty v. Wei, released in June 2017 by the Ontario Superior Court of Justice.  The Court concluded that the misrepresentations in the real estate ...
07/29/2017
Liability of the Listing Agent Personally Undertaking RepairsQuestion: What should happen in a situation where a defect occurs a couple days prior to closing and: 1. The seller's agent promises to fix the defect. 2. The deal closes, with reliance by the buyer, on the promise by the seller's agent...
07/28/2017
Toronto mid-July Statistics from TREBThis is the recent report from TREB:“TREB MID-MONTH STATISTICS July 20, 2017 –Greater Toronto Area REALTORS® reported 2,670 residential transactions through TREB’s MLS® System during the first 14 days of July 2017.This result was down 39.3 per cent compared to...
07/28/2017
DO NOT CONTACT (Ontario)As a routine matter most Listing Agreements are signed and include a ‘no contact” provision. Are they enforceable?The preclusion for contact is contained in the Listing. It is then transferred to the MLS system as a representation. It may or may not be enforceable.The word...
07/28/2017
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.08%*CANHOU 12/15/22 [+0.07]       5 Year - 1.65%CAN 0.50 03/01/22 [+0.06]       0.98%                      [-]                       10 Year - 2.51%CANHOU 2.35 06/15/27 [+0.07]       10 Year - 2.04%CAN...
07/28/2017
What do you mean by acceptance and communicating? Going back to 2008, there was a different section here. It was called the Confirmation of Execution. That meant the last person to sign, but that particular information had no value.So, it was changed to COA or Confirmation of Acceptance. That inf...
07/26/2017
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Brian Madigan

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