Real Estate News from Popular Ontario Cities

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Real Estate News from Popular Ontario Counties

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 4
Joint Tenancy Severance and DeathIf one joint tenant (A) out of three (A, B and C) sells his share to X ,  then X becomes tenants in common with joint tenant  B  and C. Now if B dies the property has tenancy in common with X and C. If unfortunately C also die will X be the sole owner of the prope...

By Brad Miller
Comments 1
Market Stats for the GTA are in for March. Want to learn more about trends in your specific neighbourhood? Send us a message or give us a call at 905-338-2121 today. Are you looking to buy or sell in Oakville or the surrounding areas? We'd love to hear from you. Contact The Goodale Miller Team t...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Disclosure of Material Facts in OntarioA real estate agent must investigate, determine and verify the material facts, and then disclose such facts to “their” clients and customers, not other people’s clients and customers, just their own. So, the murder, if you know about it, and you’re the Listi...

By Dan Papadapoulis, Home equity loans, second mortgages Toronto
(Mortgage Central Nationwide)
Comments 0
A home equity loan is a home loan that requires a piece of real estate to be used as collateral or security. This loan is provided as a mortgage on a piece of property. The amount someone can borrow from this type of loan is based on the equity of the property used as security. Because of this, a...

By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Comments 0
Getting a home equity loan if you’re from the Greater Toronto Area shouldn’t be much of a hassle if you own your home and willing to work with lenders other than banks. It will help a lot too if you have some assistance from mortgage professionals in the GTA like us at Homebase Mortgages.But Firs...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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% 3.09% 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 ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
UFFI Considerations (Ontario)Urea Formaldehyde Foam Insulation or UFFI continues to present a problem for both Buyers and Sellers.The off-gasses are long since gone, but the stigma remains. Essentially, Buyers want a discount and lenders are reluctant to finance properties.Two steps are available...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Re-inspection Before Closing (Ontario)Question:Does an executory contract give the right to re-inspect prior to closing? Even following the Harkness case, some lawyers do not think the case is decisive enough.Answer:There is a reference to the BC case in 2014 which expanded the application. Some ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Non-Resident Witholding Tax: Tenant' s Obligations (Ontario)Question:How do you handle the tax witholding provision for non-resident landlords? It's located in Paragraph 16 of the Form 400 Agreement to Lease. Answer:The Tenant is obligated to withhold 25% of the gross rental payment unless the La...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Estoppel and Ratification ExamplesSimple examples: EstoppelFor years, I have had my secretary order and pick up a pizza. I pay when I’m in the next week. I can’t simply tell the restaurant that I’m not paying for last week’s pizza. That’s estoppel. I could tell them I won’t be paying any more. Th...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.00%* CANHOU 06/15/24 [-0.04]   ‌ 10 Year - 2.26%* CANHOU 09/15/29 [-0.06] * denotes interpolated rate       GoC 5 Year - 1.66% CAN 2.50 06/01/24 [-0.05]   ‌ 10 Year - 1.78% CAN 2.0 06/01/28 [-0.05] GOC Bonds are for reference purposes only Floating rate insu...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Term Posted Rate Preferred Rate 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% 3.09% 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 2.95% Prime 3.95% Benchmark 5.34% Rates may vary provin...

By Gloria Valvasori, Accredited Senior Agent, REAL Experience | REAL Commitment | REAL Results!
(BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE)
Comments 0
The Spring market has arrived and is in full force.. all the categories rose, with the exception of Days on Market, indicating the market is brisk and properites are sellling in less time than the month before. 

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
HIGH RATIO fixed term best discounted rates & posted rates as of April16, 2019 Terms                           Posted Rates               Preferred Rates 6 mos                           3.34%                          3.30%1 year                          3.59%                          3.19%2 year ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Buyer’s Last Visit to Property Before ClosingQuestion: What should you actually be doing at the Buyer’s last visit?Answer:This situation is very well-handled in several other jurisdictions, particularly where Title Insurance companies handle the transfer. Someone from the insurance company comes ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Estoppel and Ratification DistinguishedThe two concepts of ratification and estoppel are somewhat similar, but they are different in the sense of the confirmation. In both cases, the agency relationship was not clear and defined, and it took a subsequent act to make the antecedent agreement, a va...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
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% 3.09% 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 ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Chattels is a very broad concept, and while attachment is important, the intention and purpose of the attachment are the determining factors;visual inspection is all that is necessary,contracts are irrelevant

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Here are some Basic principles about tort law as it applies to real estate:·        Real estate agents will be sued under the law of torts for negligence in their duties, not contract·        Misrepresentations fall under the law of torts·        Law of deceit permits termination of contracts and...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Confidentiality and the Unsuccessful Listing “Pitch” (Ontario)Question:If something comes up in a listing presentation, does the unsuccessful agent have to maintain silence?Answer:They made the pitch for agency. Fiduciary duties apply. They were unsuccessful, but they still have to maintain confi...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Too Much Information Presents Ethical Dilemma (Ontario)Question:I attend a listing appointment and the Seller says: “I have had water in my basement but you cannot tell anyone.”I explain that we need to disclose, he refuses. I then walk away from the listing.It is now listed with another sales pe...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Problems with Alignment During ConstructionQuestion:Client loves a home that is under construction. The home is vacant and half finished. During our due diligence it turns out that the addition on the back of the home failed an inspection, the north wall is on a slight angle (shouldn’t be) and is...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Term Posted Rate Preferred Rate 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% 3.09% 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 2.95% Prime 3.95% Benchmark 5.34%

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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% 3.14% Fixed 4 Year 3.94% 3.29% Fixed 5 Year 5.34% 3.09% Fixed 7 Year 5.80% 3.49% Fixed 10 Year 6.10% 3.54% Variable Rate 2.95% Prime Rate 3.95% Benchmark Rate 5.34% Cost per ...

Ontario Real Estate Agents and Real Estate Professionals