Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
 Renter is a RECO Registrant: No Loss of Rights (Ontario)Question:I have clients who bought a rented condo 2 years ago, we did not know that the seller’s real estate agent was the renter. The agent never disclosed it. My clients sent a notice to the renter (the real estate agent) to move out and ...
08/15/2019
Time for Executing the AmendmentQuestion:Does an amendment have to be signed before a condition precedent timeline expires?Example: home inspection condition precedent until Monday at 2PM; amendment to extend home inspection condition signed/sent after 3PM Monday? Does this work?Answer:The Agreem...
08/15/2019
Be Sure to make Proper Use of Form 801For a considerable period of time, there was a concern about “phantom offers” in Ontario. A Buyer is looking at a property and just as they are about to submit an Offer, along comes another purchaser and suddenly they are in completion. Naturally, they increa...
08/14/2019
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 per ...
08/13/2019
Toronto and GTA Markets in July 2019This is the recently released report of the Toronto Real Estate Board concerning the July 2019 results:          GTA REALTORS® Release July 2019 Stats TORONTO, August 6, 2019 – Toronto Real Estate Board President Michael Collins announced that Greater Toronto ...
08/13/2019
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% Rates may vary provin...
08/12/2019
 No Delivering or Receiving Notices in Multiple RepresentationQuestion:"When brokerage represents both the Seller and the Buyer (multiple representation) the brokerage is not entitled or authorized to be an agent for either the Buyer or the Seller for the purposes of giving/receiving notices". Wh...
08/12/2019
Use of Forms 300 and 310 (Ontario)Form 300 and Form 310 are both used to evidence the Buyer Contract.What is the relationship? If it’s agency, which is client services, then it’s Form 300.If it’s non-agency, then it’s customer services and this Form 310 is what is required.
08/09/2019
Commercial Bond Yields CMB 5 Year - 1.55%* CANHOU 12/15/24 [-0.04]   ‌ 10 Year - 1.62% CANHOU 09/15/29 [-0.03]   * denotes interpolated rate GoC 5 Year - 1.18% CAN 1.50 09/01/24 [-0.04]   ‌ 10 Year - 1.20% CAN 2.25 06/01/29 [-0.03] GOC Bonds are for reference purposes only Floating rate insured ...
08/09/2019
HIGH RATIO fixed term best discounted rates & posted rates as of August 8, 2019 Terms                           Posted Rates                 Our Rates6 mos                          3.34%                          3.30%1 year                          3.59%                          3.04%2 year      ...
08/08/2019
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BrianMadigan

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