ARCHIVED BLOG POSTS
2019
Unresolved Title Defects Prior to Closing (Ontario)Question:The closing is scheduled for tomorrow and the buyer's lawyer has found out that there are two expired notices on title that should be cleared before closing. Seller's lawyer is refusing to clear these notices and as a result, buyer will ...
02/20/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.19% Fixed 3 Year 3.89% 3.49% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.64% Fixed 10 Year 6.10% 3.89% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
02/19/2019
HIGH RATIO fixed term best discounted rates & posted rates as of February 18, 2019 Terms Posted Rates Our Rates 6 mos 3.34% 3.30%1 year 3.59% 3.19%2 year ...
02/18/2019
Listing Agent: Pre-Listing Inspection Liability (Ontario)Question:Is there any risk to a Listing Agent who suggests or recommends a Pre-Listing Home Inspection?Answer:The actual risk to the Listing Agent should they recommend a pre-listing inspection is that the Home Inspector finds something sig...
02/17/2019
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Commission Deficiency OntarioQuestion:If there is not enough commission to pay the Buyer’s Agent on closing, can the Buyer’s Agent sue the Buyer directly for full payment or the shortfall under the Buyer Representation Agreement?Answer:I think it might be somewhat difficult to go after your own B...
02/17/2019
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Escalation Clauses Might be Void in OntarioIt is a clause that is very risky to use both for the Buyer and the Seller. Many jurisdictions do not permit them at all: 1) Some think that this type of clause is VOID as against public policy, 2) Some believe that it is an abuse of the administ...
02/17/2019
Absolute Discretion Clause in Ontario after BhasinNumerous clauses will state “…the Buyer’s sole and absolute and unfettered discretion…”.The difficulty with the clause as it stands is that it may easily give the novice or the uninformed the wrong impression. However, things are slow to change, s...
02/16/2019
Inspection Conditions for “As Is” PropertiesQuestion:If a house is being sold "as is" can you personally pay for a building inspector as a condition if you put a bid on it?Answer:All real estate is sold “as is”. The only exception would be “new builds” with a Tarion Warranty.The question, of cour...
02/16/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.19% Fixed 3 Year 3.89% 3.49% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.64% Fixed 10 Year 6.10% 3.89% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost p...
02/16/2019
Commercial Bond Yields CMB 5 Year - 2.21%* CANHOU 06/15/24 [+0.03] 10 Year - 2.39% CANHOU 12/15/28 [+0.03] 10 Year - 2.42%* CANHOU 09/15/29 [+0.03] * denotes interpolated rate
02/15/2019
Rainmaker
1,598,322
1,598,322
Brian Madigan
LL.B., Broker
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