Brian's Ontario Real Estate Blog

Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
Agents Supporting One Another in Social MediaFrom a purely ethical perspective, we should not recommend another agent without some sort of knowledge; that can even be second hand through a third party. We can “like” another agent, or become a “fan” on Facebook without any knowledge whatsoever.To ...
    TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.44% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.34% Fixed 4 Year 3.89% 2.59% Fixed 5 Year 4.64% 2.59% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.10% Prime Rate 2.70% Benchmark Rate 4.64% Cost p...
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.44% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.59% 5 YEARS 4.64% 2.69% 7 YEARS 5.30% 3.24% 10 YEARS 6.10% 3.79% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.20%  
Late Winter Pool ClauseHere is a late winter pool clause for Buyers. The pool right now is closed and no ine=spection can be done. It's not a worthless pool. The Buyer is actually paying extra money.So, consider something like the following: Pool ClauseThe parties agree that the swimming pool sha...
House Scooped From Under My Clients (Ontario)Question:I am acting on behalf of a Buyer. We came across a property and based on others that we had seen, this was a strong candidate. We booked an appointment this afternoon to show the new listing. I was told that there was one Offer that would be p...
Maximum Interest in OntarioQuestion:I heard that there was a maximum amount of interest that can be charged. Reluctantly, I may have to offer some financing. I’m annoyed, but I will probably have to go ahead however, I would like to charge the maximum.Answer:The highest rate is 60% compounded yea...
Story or Storey for House Levels in Ontario?The Britich spelling is “storey”The American spelling is “story”When you are talking about the level of a house, in Canada, it’s “storey”. The Canadian spelling recognized as correct at the present time in universities is “storey”. American spellings ar...
Negotiating Commission with a FSBO Question:Confirmation of Cooperation question: The scenario is as follows - I am representing the Buyer. They would like to submit an offer on a property listed with a flat fee brokerage and the commission advertised on the listing is significantly less than wha...
 Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.63%*Canada housing 06/15/22 [-0.04]       5 Year - 1.16%CAN 0.50 03/01/22 [-0.04]       0.97%                      [-]                        10 Year - 2.30%Canada housing 06/15/27 [-0.08]       10 Ye...
Competing Offers: The RECO Rules (Ontario)Question: What are the RECO rules that states that in a multiple offer situation, the listing brokerage must disclose a multiple representation situation?For clarity purposes: Brokerage A lists a home and receives offers on it from Brokerage A, Brokerage ...

Brian Madigan

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