Brian's Ontario Real Estate Blog

Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
Fixed term best discounted rates & posted rates as of Sept 19, 20176 mos                                 3.10%         3.14%1yr                                     2.44%          3.04%2yr                                     2.54%          2.84%3yr                                     2.69%        ...
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.64% Fixed 2 Year 2.84% 2.54% Fixed 3 Year 3.44% 2.84% Fixed 4 Year 3.89% 2.94% Fixed 5 Year 4.84% 2.94% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.74% Variable 2.40% Prime 3.20% Benchmark 4.84%
Excluding the Neighbour from the Open House Question:My clients have asked me not to let their next door neighbours into open house. Can I reject people at the door? Answer:Neighbours could turn vicious. If the Seller doesn’t like them now, how about every showing (yes they have cameras) and ever...
Offer Withdrawal Issues Questions: At which stage/s the buyer can retract their offer: (assuming seal is used):1. Buyer signs the offer that is yet to be presented to seller,2. Signed offer is in the seller's agent’s possession or has been presented to the seller,3. Seller has accepted4. Seller h...
Life Lease Survivorship Question: If a couple lived in their life lease home, and one of them dies, does the other need to sign a new life lease agreement. Answer:The answer depends upon the nature of the agreement when they first moved in.If the lease was based upon their “joint lives”, then if ...
Remedies if Title is Defective Question:If there is a matter of title which the Seller can't remove, for example like previous owner gives a right of way, is Buyer obligated to buy? Answer:Any title objection must be submitted within the requisition period. Afterwards is too late.Even “in time” m...
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.21%*CANHOU 12/15/22 [+0.01]       5 Year - 1.81%CAN 1.0 09/01/22 [+0.01]       1.15%                    [-]                       10 Year - 2.65%*CANHOU 03/15/28 [+0.01]       10 Year - 2.08%CAN 1.0 06...
Offer WithdrawalHow much flexibility does a buyer have in regards to withdrawing an offer/counter offer before it being accepted by the seller? Assuming form 100 is used and signed under seal. Answer:While it is indeed proposed that the Offer be irrevocable, the only “obligation” that arises is i...
Seller’s Approval of Buyer’s FinancingFrom time to time, the Seller will be anxious to confirm that the Buyer truly has the right financing.Assuming that to be the case, here’s what a clause would look like:The Seller shall have the right to terminate this Agreement by giving written notice to th...
Restrictive Covenants and Fences Question: A buyer wanted to buy a property and put a pool in their back yard. When doing a title search they found that the seller had a restriction to putting up a fence in the backyard (which would be needed to have a pool). After finding this out, does the buye...

Brian Madigan

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