Brian's Ontario Real Estate Blog

By
Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
Usual ExampleBob acts for Sam the Seller and Mary acts for Bill the Buyer.Bob and Sam sit together at Sam’s dining room table and go through the process of accepting Bill’s Offer. Mary and Bill are at Mary’s office.8:00 pm      Irrevocable time7:30 pm      Mary leaves Sam’s house7:40 pm      Sam ...
10/22/2019
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% 2.69% 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 per ...
10/22/2019
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% 2.69% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.19%
10/21/2019
Improper Execution of the COAMore often than not, an improper time was inserted into the COA. No one read the memo from OREA explaining the differences between the COE and the COA. Actually, that was a bit of a problem: there wasn’t one.So, many agents simply continued with the old practice of th...
10/19/2019
Confirmation of Acceptance added in 2008This is the "new" provision which was added to the OREA Standard Form Agreement of Purchase and Sale in 2008:“CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed and wri...
10/19/2019
Use of “As Is” in a Real Estate Contract (Ontario)Question:Why would an agent insist that one insert a clause that says "Buyer acknowledges the home is being bought in as-is condition".We know the condition...risks etc... have no clauses that include any warranties.Answer:All properties are sold ...
10/19/2019
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
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
Rainmaker
1,563,639

BrianMadigan

LL.B., Broker
local_phone(416) 745-2300
Contact The Author
Markets, Finance and Law related to real estate, estate planning and personal financial investment opportunities