ARCHIVED BLOG POSTS
2019
2
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Offers for Leases in OntarioQuestion:Do I need an Offer for a Lease? If I just use the Government Lease Form, there’s no irrevocable.Answer:The Offer is actually unnecessary. Why tie things up with an irrevocable time? Most commercial contracts have no irrevocable provisions at all.The key docume...
02/06/2019
2
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Counting the days in Ontario is a question that has come up before. It’s important to get it right, because otherwise the consequences could be disastrous.There are calendar days, and everyone knows what they are. There’s no clear understanding today (not 30 years ago, but today) about the meani...
02/06/2019
0
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Tendering in OntarioQuestion:What is the meaning of “tender” in real estate transactions?Answer:Tender is a very specific term in a real estate transaction.Tendering is the process to demonstrate that a party is "ready, willing and able” to complete the transaction.So, even if there is going to b...
02/06/2019
0
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Structure the Good Faith Deposit Cautiously Let’s assume that you are a Buyer submitting an Offer on a million dollar property. The expectation is that you will come up with a good faith deposit in the amount of $50,000.00 representing 5% of the purchase price. But, is that entirely fair? If the ...
02/03/2019
0
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Three is Better Than Two (Ontario)The City of Toronto does have a plan for intensification. That means “squeeze more people in”.Neighbours object, “just leave things the way they way” by the NIMBYs.The Planning Department agreed to oppose. The owner seeking the re-division of the two properties i...
02/03/2019
Seller Take Back and “Not More Than” (Ontario)Question:When a seller take back exists the mortgage clause on the first mortgage should state not more than rather than not less then. So if there is a seller take back mortgage does the mortgage clause on the first mortgage always say “not more than...
02/03/2019
4
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Minor or Major Easements (Ontario)Question:Are there any criteria to decide what kind of easement to allow the buyer to terminate the agreement? If they are related to the government, then the buyers cannot terminate? If they are related to very personal factors ( such as the right of way for so...
02/03/2019
Term Posted Rate Preferred Rate 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 2.95% Prime 3.95% Benchmark 5.34%
02/03/2019
Commercial Bond Yields CMB 5 Year - 2.23%* CANHOU 06/15/24 [+0.05] 10 Year - 2.41% CANHOU 12/15/28 [+0.04] 10 Year - 2.44%* CANHOU 09/15/29 [+0.04] * denotes interpolated rate GoC 5 Year - 1.83% CAN 2.00 09/01/23 [+0.04] 10 Year - 1.92% CAN 2.0 06/01/28 [+0.04] GOC Bonds are for refer...
02/02/2019
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