ARCHIVED BLOG POSTS
2017
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Remedies if Title is Defective Question:If there is a matter of title which the Seller can't remove, for example like previous owner gives a right of way, is Buyer obligated to buy? Answer:Any title objection must be submitted within the requisition period. Afterwards is too late.Even “in time” m...
09/17/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.21%*CANHOU 12/15/22 [+0.01] 5 Year - 1.81%CAN 1.0 09/01/22 [+0.01] 1.15% [-] 10 Year - 2.65%*CANHOU 03/15/28 [+0.01] 10 Year - 2.08%CAN 1.0 06...
09/15/2017
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Offer WithdrawalHow much flexibility does a buyer have in regards to withdrawing an offer/counter offer before it being accepted by the seller? Assuming form 100 is used and signed under seal. Answer:While it is indeed proposed that the Offer be irrevocable, the only “obligation” that arises is i...
09/14/2017
Seller’s Approval of Buyer’s FinancingFrom time to time, the Seller will be anxious to confirm that the Buyer truly has the right financing.Assuming that to be the case, here’s what a clause would look like:The Seller shall have the right to terminate this Agreement by giving written notice to th...
09/13/2017
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Restrictive Covenants and Fences Question: A buyer wanted to buy a property and put a pool in their back yard. When doing a title search they found that the seller had a restriction to putting up a fence in the backyard (which would be needed to have a pool). After finding this out, does the buye...
09/11/2017
Termination of the Listing Prior to Expiration What if you have a real estate agent you don’t like? How do you get rid of them? You don’t want to be a complainer, you don’t want to report them, and you don’t want your property “black-listed”. So, what do you do? If you are like most people, y...
09/10/2017
Residential Landlord - Interest on Last Month’s RentQuestion:Does a landlord has to pay his tenant interest for that last month rent if a tenant is now going month to month. Is this true on the rental amount monthly considering the nee legislation? Or how is this calculated? Answer:The legal obl...
09/10/2017
Term Posted Rate Our Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.44% Fixed 2 Year 2.84% 2.54% Fixed 3 Year 3.44% 2.55% Fixed 4 Year 3.89% 2.84% Fixed 5 Year 4.84% 2.75% Fixed 7 Year 5.30% 3.39% Fixed 10 Year 6.10% 3.64% Variable 2.40% Prime 3.20% Benchmark 4.84%
09/10/2017
Double ending your listing (Clients or Customers) OntarioQuestion:Do you sign the new buyers up as clients or customers?Answer:“Customers” is a difficult concept to explain. Most of the time the consumer cannot explain it back to you. That's certainly a problem going forward. In Court, the consum...
09/10/2017
August 2017 GTA Market Sinks to New Lows!This is the newly released report from the Toronto Real Estate Board.:“GTA REALTORS® Release August Stats TORONTO, ONTARIO, September 6, 2017 –Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,357 hom...
09/10/2017
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