ARCHIVED BLOG POSTS
2019
Acceptance of a Contract in LawAcceptance in law is a two step process:1) 1) Signing or executing the contract by the Offeree, and2) 2) Communicating the fact that the Offer has been accepted to the Offeror.If the second step does not take place, then we don’t have a contract. The person wh...
10/18/2019
Deposit Provisions in the Standard Agreement“DEPOSIT: Buyer submits............................ (Herewith/Upon Acceptance/as otherwise described in this Agreement)……”.There were three choices with respect to the timing of the delivery of the deposit:1) Herewith,2) Upon Acceptance, and3) ...
10/18/2019
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Confirmation of ExecutionThe Confirmation of Execution had a difficult history. It was introduced in order to confirm the “time” for the delivery of the deposit, and also the time for the commencement of other conditions if they were based upon the commencement of the contract.The intention was t...
10/18/2019
Commercial Bond Yields CMB 5 Year - 1.87% CANHOU 12/15/24 [-] 10 Year - 1.97% CANHOU 09/15/29 [-] * denotes interpolated rate GoC 5 Year - 1.57% CAN 1.50 09/01/24 [-] 10 Year - 1.56% CAN 2.25 06/01/29 [-] 15 Year - 1.65%* CAN 06/01/35 [-0.01] 20 Year - 1.69%* CAN 06/01/40 [-0.0...
10/18/2019
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Toronto and GTA Markets in September 2019This is the recently released report of the Toronto Real Estate Board concerning the September 2019 results:GTA REALTORS® Release September 2019 Stats TORONTO, October 3, 2019 – Toronto Real Estate Board President Michael Collins announced that Greater To...
10/17/2019
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.64% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.19% Cost ...
10/17/2019
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 2.69% Fixed 2 Year 3.74% 2.69% Fixed 3 Year 3.89% 2.69% Fixed 4 Year 3.94% 2.69% Fixed 5 Year 5.19% 2.64% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/16/2019
Calculating the Equalization Payment in OntarioQuestion:After a few years marriage, John and Maria are divorcing. John brought in $20,000 and Maria brought in $50,000. The difference, $50,000-$20,000=$30,000 should be equalized during divorcing process and Maria gets $15,000 (30000/2). Is that co...
10/13/2019
Confirmation of Acceptance: Who Signs! (Ontario)Question:Who signs the Confirmation of Acceptance in the event of a counter offer by the seller that is accepted by the buyer? (the buyer or the seller)? For example, Buyer submits an offer; Seller counters with a higher price, Buy Accepts.Answer:Th...
10/13/2019
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Relisting and Resale (Ontario)Question:Can an agent relist a property on MLS without a signed mutual release for a previous deal? We were one day late with the deposit.Answer:If you were late with your deposit, then the Buyer is in breach of contract. The Seller has the option to terminate the co...
10/12/2019
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