Brian's Ontario Real Estate Blog

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

ARCHIVED BLOG POSTS

2018 

Condominiums Must Issue Correct Status CertificatesWhile this may seem obvious, what happens if the Same Condominium had previously issue two incorrect Status Certificates?The Ontario Court of Appeal recently looked at the case of DBDC Spadina Ltd. v. Walton, 2018 ONCA 232.Dante Reino, purchased ...
03/31/2018
A Link House in OntarioQuestion:I’m having a little trouble with this. A link house is constructed upon a lot zoned for semi-detached buildings. Nevertheless, there still seems to be controversy. What do you think?A link house is:1) detached, 2) semi-detached, 3) hybrid between detached and semi-...
03/31/2018
Calculation of the Second Requisition Date in OntarioFirst of all, there is a Second Requisition date. For some reason, not everyone truly appreciated this fact.The date that is inserted is for the title search. Then, there’s a second date, for non-title searches.All non-title searches include th...
03/31/2018
A “Mandatary” in a Real Estate Transaction in OntarioQuestion:What is a Mandatary?Answer:The Mandatary is an individual appointed to verify either an         individual,         a corporation or         other entity for FINTRAC purposes.Assuming for example that a transaction is to take place in ...
03/30/2018
Registration of the Unsigned Offer in OntarioQuestion:You get a notification from your office that an agent has "registered an offer" on your listing. You don't see anything in email for an hour. You follow up and they indicate that their buyer hasn't signed it yet. I thought we are no longer all...
03/30/2018
What Happens to the Bonus Added to the Commission in Ontario?Question:What about adding a bonus to buyer’s Agent’s commission....does it work? I have a high end property that I would like to see more activity on and have never tried a large bonus style payout....say 2.5% + $50,000. How does this ...
03/30/2018
HIGH RATIO fixed term best discounted rates & posted rates as of Mar 27, 2018 Terms                           Posted Rates              Our Rates 6 mos                          3.14%                          3.10%1 year                          3.04%                          2.99%2 year          ...
03/27/2018
The Basic Law about Deposits in OntarioAlthough the issue comes up from time to time, the leading case on the subject of deposits is De Palma v Runnymede (1949) in the Ontario Court of Appeal.The issue keeps coming up, over and over again. While there are important recent cases like Redstone in t...
03/27/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.99% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.04% Fixed 4 Year 3.89% 3.39% Fixed 5 Year 5.14% 3.19% Fixed 7 Year 5.30% 3.39% Fixed 10 Year 6.10% 3.84% Variable Rate 2.40% Prime Rate 3.45% Benchmark Rate 5.14% Cost per ...
03/26/2018
Possible Solutions to Lawsuits against Agents (Ontario)Lots of people are being sued and very few know what they did wrong. Many errors and mistakes could easily have been avoided. Both RECO and OREA produce lots of ammunition to impose liability upon an Agent in a lawsuit.I think that continuing...
03/25/2018
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Brian Madigan

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