ARCHIVED BLOG POSTS
2019
Holdovers, the Purpose and PracticalityQuestion:Holdovers, do they really protect us? Sellers were under contract and backed out of a conditional deal they didn’t want to agree to terms of the deal. Listing terminated. They relist during holdover period with another brokerage (exclusively) and s...
05/31/2019
Disclosure Framework For ConsiderationAgents should really have at least 6 different frames of reference for the answers to any disclosure question relating to material facts: Representing the Seller as a Client Representing the Seller as a Customer Representing the Buyer as a Clie...
05/31/2019
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Disclosure: Lack of InsulationQuestion:Seller is listing their 100+ year old house. They know there is no insulation in the walls. Does this need to be disclosed?Answer:There doesn't appear to be any obligation on the Sellers to disclose this. I appreciate that it doesn't include the most modern ...
05/31/2019
HIGH RATIO fixed term best discounted rates & posted rates as of May 31, 2019 Terms Posted Rates Preferred Rates6 mos 3.34% 3.30%1 year 3.59% 3.19%2 year ...
05/31/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.14% Fixed 3 Year 3.89% 2.94% Fixed 4 Year 3.94% 3.14% Fixed 5 Year 5.34% 2.99% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.34% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
05/28/2019
Mutual Driveway Issues Related to Abutting Areas Question: What do you think can and can't be done with the highlighted area in the picture? For example, can a hose or recycle bins or garden shed be stored as long as the mutual drive is not being encroached on? Answer: If the property has always ...
05/24/2019
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Current Status of the SPIS in OntarioThe SPIS (Seller Property Information Statement) has now fallen into disuse. You would rarely come across it today. It had been a mandatory requirement by a number of Boards but not TREB. That was 5 years ago.Some of the questions were vague. Agents often didn...
05/24/2019
Commercial Bond Yields CMB 5 Year - 1.87% CANHOU 06/15/24 [-0.07] 10 Year - 2.10% CANHOU 09/15/29 [-0.05] GoC 5 Year - 1.52% CAN 2.25 03/01/24 [-0.07] 10 Year - 1.61% CAN 2.0 06/01/28 [-0.06] GOC Bonds are for reference purposes only Floating rate insured cost of funds 2.10% [-] ...
05/24/2019
SPIS Disclosure Problem (Ethical Considerations)Question:If your client has filed out an SPIS form but has requested you do not show it, however, on the form they did note the basement leaks. You then show the property to a Customer and they ask you if the basement leaks, what then?Answer:Once yo...
05/23/2019
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Signature of Spouse on Listing (Ontario)Question:The Owner signs the listing and all is good, but then the spouse (common law) not on title REFUSES to sign? Answer:Be sure not to give the impression to a common law spouse that they have to sign the Spousal Consent. They don't, not under the Famil...
05/21/2019
Rainmaker
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Brian Madigan
LL.B., Broker
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