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 

Immediate Severance of Joint Tenancy under the Family Law ActThis is a situation that doesn’t occur every day, but it happens enough, and real estate agents need to be aware.Question:Assume A, B, and C hold the property in joint tenancy. C is married to D who moves into the property such that, it...
01/26/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.44% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.59% 5 YEARS 4.64% 2.69% 7 YEARS 5.30% 3.19% 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%
01/24/2017
Documenting the Commission Bounce Question:Is it "legal" to negotiate commission on a Confirmation of Cooperation and Representation? ie. Can a buyer agent enter anything but the CB commission stated on the MLS listing, or conversely can a listing agent "sign back" a COC with a reduced CB commiss...
01/23/2017
No Reduction of Commission if Buyer has Lawyer and No Agent Question:Assume that you have a MLS listing with --% to Co-operating agent, holding offers and expecting multiples, then you were contacted by a buyer who said they would be putting in a private offer through their lawyer to save the com...
01/23/2017
Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.67%*Canada housing 06/15/22 [-]       5 Year - 1.13%CAN 0.75 09/01/21 [-]       0.96%                      [-]                        10 Year - 2.37*Canada housing 06/15/27 [+0.01]       10 Year - 1.74...
01/21/2017
Listing: Maiden name, Registered Name or Married Name? (Ontario)Question:If the Seller changed their last name because they got married but the land registry still has the old name, does the registry need to be updated before listing their property for sale?Answer:You should use the name that the...
01/20/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.44% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.59% 5 YEARS 4.64% 2.69% 7 YEARS 5.30% 3.19% 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%
01/19/2017
You Are Not Allowed to Chase the Seller’s Lawyer (TREB)Question:We are the Co-operating Brokerage. No commission check shows up. The Sellers’ lawyer won't return calls.Is the listing Brokerage still responsible to pay the cooperating Brokerage portion of commission?Answer:No, not unless the Listi...
01/19/2017
Timing of the Break – Up is Important (Ontario Family Law)Question:A couple decides to “break up” and she decides to buy a condominium? Does the husband have to sign the spousal consent?Answer:The issue is whether or not they are "separated". Is that what "broke up" means? He never lived in the c...
01/19/2017
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
01/18/2017
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Brian Madigan

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