ARCHIVED BLOG POSTS
2018
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Bad News about Agents’ Commissions (Ontario)There seems to be a rash of media articles criticizing real estate agents and what they do recently. Why is this?Fundamentally, real estate commissions have risen exponentially over the years. They have out-paced other types of goods and services relate...
03/25/2018
HIGH RATIO fixed term best discounted preferred rates & posted rates as of Mar 25, 2018 Terms Posted Rates Our Rates 6 mos 3.14% 3.10%1 year 3.04% 2.99%2 year...
03/25/2018
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Late Deposit Receipt by SellerQuestion: Does the non- receipt of the deposit kill the deal?Answer:If the Buyer fails to deliver the deposit "on time", the Seller can:1) terminate the transaction, treating the late deposit as a breach of contract, or 2) ignore it, and simply proceed with the trans...
03/25/2018
Deposit Cheque and the Real Estate Trust AccountQuestion:How many days do you have to make a deposit into the real estate trust account from the acceptance date?Answer:Assuming that the deposit is due upon acceptance, then the Buyer’s Agent has 23 hours and 59 minutes to deliver it to the Listing...
03/25/2018
Non Title Search Period Calculation in OntarioAll non-title searches include the work orders, deficiency notices etc. and they all have the same time period associated with the offer. This clause is a little confusing when calculating the date the non-title searches must be completed by. Here's h...
03/25/2018
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Attic Mould: To Disclose or Not? (Ontario)Is an attic filled with (in the words of the home inspector) “dormant mould” considered a latent defect?The mould has to cross a certain threshold before the Seller is obligated to disclose it. So, first they have to know about it, then it has to affect t...
03/23/2018
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.38%*CANHOU 06/15/23 [-] 5 Year - 2.07%CAN 1.0 03/01/23 [-] 1.57% [-] 10 Year - 2.59%*CANHOU 03/15/28 [-0.01] 10 Year - 2.20%CAN 1.0 06/01/27 ...
03/23/2018
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Terminology: “Sellers and Vendors” (Ontario)The expressions “Vendors” and “Purchasers” in respect to the sale of real property have been used for centuries. In Ontario there were 3 sources of standard form agreements in Ontario, available from: 1) Dye & Durham, 2) Newsome and Gilbert, and 3) O’Br...
03/22/2018
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What can Assistants Do? (Ontario)Question:I would like to know what things my assistant can do. They are not registered.Answer:They can do everything except what is “Trading in Real Estate”. Here’s the definition.“trade” 1) includes a disposition or acquisition of or transaction in real estate...
03/22/2018
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 ...
03/19/2018
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Brian Madigan
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