Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2019 

SPISQuestion:According to the Code of Ethics sales person should disclose the existence of the SPIS to all interested buyers, if he/she knows that one has been completed, unless "otherwise directed by the seller".Unless otherwise directed by the seller? What does that mean?Answer:The section read...
05/21/2019
 Timing of Acknowledgement Signature in OntarioQuestion:Why do agents have their buyers sign the ACKNOWLEDGEMENT with the original submission and before there is an agreement the Seller has even reviewed the offer?Statement reads as follows:"I acknowledge receipt of my signed copy of this accepte...
05/20/2019
Disclosure of Secret Information Concerning Former Grow House (Ontario)Question:Consider the following: 1) #123 Drano Lane listed by bank as horrible grow op. Listing strongly worded as to grow op status so there is no confusion. Every agent in town knows it was a horrible grow op. Implications i...
05/20/2019
Section 32 Disclosure of Interest under REBBA, 2002This section for some reason is always under debate. This is the section:Acquisition or divestiture by registrant32 (1) Unless the registrant first delivers to all other parties to the agreement the notice described in subsection (2) and the othe...
05/20/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.14% Fixed 3 Year 3.89% 2.96% 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% 3.44% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
05/20/2019
Section 18 Disclosure of Interest under the Code of EthicsThis section for some reason is always under debate. This is the section:Disclosure of interest18. (1) A registrant shall, at the earliest practicable opportunity and before any offer is made in respect of the acquisition or disposition of...
05/17/2019
Commercial Bond Yields CMB 5 Year - 1.89% CANHOU 06/15/24 [-0.02]   ‌ 10 Year - 2.11% CANHOU 09/15/29 [-0.04]     GoC 5 Year - 1.53% CAN 2.25 03/01/24 [-0.03]   ‌ 10 Year - 1.63% CAN 2.0 06/01/28 [-0.03] GOC Bonds are for reference purposes only Floating rate insured cost of funds 2.10% [-]     ...
05/17/2019
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% 2.96% Fixed 4 Year 3.94% 3.19% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.44% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...
05/13/2019
Retaining Wall Collapsing at the Rear of the Yard (Ontario)Question:House is for sale with deteriorating retaining wall. It’s an Estate sale. Executors do not know if wall is on the property. There is no survey. Nothing is registered on title. Before they listed, the neighbour said they would spl...
05/13/2019
Risks of Seeking a Condition Extension By Amendment (Ontario)Question:My question is about amendment. When we want to extend the date of a condition we send an amendment. There is an irrevocable date on that. For example, a condition expires on May 10, we send that same day an amendment and ask f...
05/13/2019
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Brian Madigan

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