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 

“Earned Payment Non-refundable Deposit” ClauseWe looked at the issue of the proper need to adjust the wording in respect to a non-refundable deposit. If someone purchases a product over the internet for $5,000.00 and puts down a $100.00 “non-refundable deposit”, then fails to complete the purchas...
01/23/2018
Executor and Executrix in OntarioQuestion:What is the current status of the terms “executor” and “executrix”?Answer:There have been changes in practice over the years. The term executrix has been dropped since women’s liberation. The term “executor” is now used for both sexes. It used to be that ...
01/22/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.79% Fixed 2 Year 3.24% 2.54% Fixed 3 Year 3.44% 2.99% Fixed 4 Year 3.89% 2.99% Fixed 5 Year 5.14% 2.99% Fixed 7 Year 5.30% 3.69% Fixed 10 Year 6.10% 3.74% Variable Rate 2.75% Prime Rate 3.45% Benchmark Rate 5.14% Cost per ...
01/22/2018
Bank Rates Term Preferred Rates 2.85 % 1 year closed 2.29 % 2.35 % 2 year closed 2.24 % 2.44 % 3 year closed 2.24 % 2.49 % 4 year closed 2.44 % 2.69 % 5 year closed 2.69 % 3.59 % 7 year closed 3.39 % 4.10 % 10 year closed 3.82 % 2.95 % Prime 2.95 % 4.74 % Variable Rate 2.20 % 7.5 % Privet  Mortg...
01/21/2018
Non Refundable Deposits in Real Estate DealsDeposit Clause in Agreement (first page)DEPOSIT: Buyer submits ...........................................................................................................................(Herewith/Upon Acceptance/as otherwise described in this Agreement)...
01/21/2018
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.35%*CANHOU 06/15/23 [-]       5 Year - 2.03%CAN 1.0 09/01/22 [-]       1.45%                     [-]                       10 Year - 2.60%*CANHOU 03/15/28 [-]       10 Year - 2.23%CAN 1.0 06/01/27 [-] ...
01/19/2018
Joint Tenancy without the “Statement of Intention” can be CostlyThere was an interesting case which recently came before the Ontario Court of Appeal for consideration.At issue was the question of whether or not the individual intended “joint tenancy”.If the answer was “yes”, then the surviving jo...
01/19/2018
Vacant Possession: What does it mean?Even after you read this, you still may not know. With thousands of years of common law history, this is still a matter which is subject to judicial interpretation. There are still lots of unanswered questions.The term vacant possession arises generally in two...
01/18/2018
Toronto Market Increases 66.82% Annually over 50 Years  Real Estate Performance over Fifty Years (1967 to 2017) How did real restate perform over the last fifty years?  The average sale prices as reported by TREB for single family homes of all types in the GTA, including houses, townhouses and ap...
01/18/2018
Matrimonial Home Issues in OntarioQuestion:1) I know a Matrimonial home can be owned but can it also be leased or rented as long as it is used yearly?2) Can you have more than 1 Matrimonial home? Or is 1 or designated as the matrimonial home? (the one the couple is living in yearly).Answer:A matr...
01/17/2018
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Brian Madigan

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