Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
Delivery of the Notice of Acceptance in OntarioQuestion:Acceptance can be communicated to seller's sales rep by fax or in person. When seller's rep receives notice, buyer received it in single representation.Acceptance can also be conveyed at seller's rep's brokerage. Can this notice of acceptanc...
11/20/2017
Fixed term best discounted rates & posted rates as of Nov 20, 2017 6 mos                                 3.10%         3.14%1yr                                     2.64%          3.04%2yr                                     2.54%          3.24%3yr                                     2.69%        ...
11/20/2017
Appraisal Issues Following Bidding WarsThere is a relatively new phenomenon involving the failure of a property to meet appraisals standards, following bidding wars.So, let’s look at a scenario. Bob puts his property on the market at $540,000. That really doesn’t make that much sense, since he pa...
11/19/2017
Brian Madigan - Real Estate SURVEYS, BOUNDARIES and ADVERSE POSSESSION Course 22 November 2017Should you get a Survey?How valuable is a Survey?Isn’t it no longer necessary, now, that there’s title insurance? Where is the boundary of the stream, river, lake? Does this boundary move?Mutual Driveway...
11/19/2017
Brian Madigan -  Real Estate Chattels and Fixtures Course 22 November 2017Chattels and Fixtures: Do You Know the Difference?How do you tell?Did you know that a Lease is a chattel?What about an Easement?Some picture hooks in the wall are fixtures and others are chattels, do you know how to tell th...
11/19/2017
Cottages, Timeshares and Some Boats are Matrimonial Homes in OntarioQuestion:Can a cottage or a timeshare be designated as a matrimonial home?Answer:Yes, both a cottage and a timeshare can be matrimonial homes.There can be numerous. Also, this can extend beyond real estate. So a boat would qualif...
11/19/2017
Swimming Pool Clause for Fall and WinterConsider the following:"The parties agree that the swimming pool shall be opened not later than xx April, 2017, by a profession pool maintenance company, selected by the Seller, at the Buyer’s expense. The Seller represents, warrants, and agrees: 1)    That...
11/19/2017
Question:Consideration must be made at the time of contracting in order to have a valid contract.Answer:Here, if the document is under seal, this would eliminate the requirement of consideration. So, truly consideration would not be required.
11/18/2017
Question:Consideration must be adequate to satisfy the demands of the other party.Answer:Courts do not quantify the extent of the consideration between the parties. Whatever it is will be deemed sufficient. So “adequacy is never measured”.
11/18/2017
Question:The deposit paid by buyers is a sign of good faith and not a full amount of consideration. Answer:The deposit is not consideration at all. It’s not part consideration, and it is not required under the terms of a contract.So, the deposit is however “a sign of good faith”. That part is qui...
11/18/2017
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Brian Madigan

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