ARCHIVED BLOG POSTS
2017
Dealing with a Legal Non-Conforming Use” in OntarioThere are a few issues with “legal non-conforming” considerations. The basic principle is that municipal by-laws cannot be retroactive.If a building is constructed in accordance with applicable zoning and building by-laws, then you are compliant....
02/28/2017
Terms Posted Rates Preferred Best 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 % Current Prime 2.70 % 2.70 % 5 Year Variable 2.20 % 2.20 %
02/28/2017
Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.59%*Canada housing 06/15/22 [-0.02] 5 Year - 1.12%CAN 0.50 03/01/22 [-0.02] 0.97% [-] 10 Year - 2.25%Canada housing 06/15/27 [-0.03] 10 Yea...
02/26/2017
Is a BRA which Omits the “Brokerage” Enforceable? (Ontario) Question:The client wants out of the BRA. I looked at it and it doesn’t include the name of the Brokerage. Is that enforceable? Answer:It is quite possible to have a contract which is entered into on behalf of an undisclosed principal.Ha...
02/26/2017
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BRA Wide Reaching ALL of OntarioQuestion:I was approached by a Buyer. He signed a BRA, that says “All of Ontario”. Is that legal? The other agent isn’t anywhere near here.Answer:There mere fact that it says "Ontario" does not mean that it is unenforceable. This is rather common with commercial tr...
02/26/2017
The Long Lasting BRA, is it Enforceable?Question:I was just approached by a potential Buyer in my area. He signed a BRA with a 31 December 2018 termination date.Is this legal? Answer:I would suspect that there might be several issues here:1) it was void from the outset,2) it was voidable from the...
02/26/2017
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RISK MANAGEMENT CourseRunning a Course tomorrow on Monday 27 February on Risk Management.We will cover informed consent, some contract issues with Offer and Acceptance, improper usage of some Forms, Lawyer Approval Clauses, Counter-Offer Forms, Vacant Possession, Title Insurance and the concept o...
02/26/2017
Should You Get the Acknowledgement Signed by the Other Side?The Standard Form Agreement of Purchase and Sale contains an Acknowledgement section, following the signatures of the parties and the Confirmation of Acceptance section.Here’s what it says:ACKNOWLEDGEMENTI acknowledge receipt of my signe...
02/24/2017
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 ...
02/22/2017
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...
02/21/2017
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