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erin mills: Mortgage Rates ~ 18 April 2011 - 04/18/11 09:21 PM
If you require a referral to a mortgage broker, then please let me know.
… (1 comments)
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erin mills: Seller Property Information Statement ~ Weinman and Brinkman - 04/15/11 05:56 PM
SPIS ~ Weinman and Brinkman
Ontario Real Estate Source
By Brian Madigan LL.B.This was a Small Claims Court decision in Toronto involving the use of the Seller Property Information Statement.Briefly, the purchaser acquired a real estate property (416 St. Clement's Ave.) in Toronto from the vendor pursuant to a standard form real estate agreement. The Offer was accepted on 30 May 2006 and the transaction closed on 4 July 2006. By 12 July 2006, the basement was leaking.The repair was expensive and the purchaser as plaintiff abandoned the claim in excess of $10,000 in order to bring the action … (3 comments)
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erin mills: Mortgage Rates ~ 13 April 2011 - 04/13/11 02:04 PM
If you require a referral to a mortgage broker, then please call me at 905-796-8888.
… (0 comments)
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erin mills: Seller Property Information Statement (Part 8) - 04/12/11 09:26 PM
SPIS ~ Document Reviewed Part 8
ONTARIO REAL ESTATE SOURCE
By Brian Madigan LL.B.This is a further continuing review of the Seller Property Information Statement currently in use in Ontario.This section deals with final summary and general comments at the end of the document, sellers' liability, indemnity in favour of the agents, the truthfulness and accuracy of the statement.The regular print as underlined is the actual document. My comments appear in italics.Seller Property Information Statement ~ ResidentialADDITIONAL COMMENTS __________________________This is your opportunity to add anything else that may be relevant.Schedules(s) attached hereto and forming part of this Statement include:_______________________________________There would appear to … (0 comments)
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erin mills: Seller Property Information Statement (Part 7) - 04/12/11 09:23 PM
SPIS ~ Document Reviewed Part 7
ONTARIO REAL ESTATE SOURCE
By Brian Madigan LL.B.This is a further continuing review of the Seller Property Information Statement currently in use in Ontario.This section deals with improvements and structural issues. It also deals with wood burning systems, heating systems, air-conditioning systems, water damage and damage by other causes, electrical and plumbing systems.The regular print as underlined is the actual document. My comments appear in italics.Seller Property Information Statement ~ ResidentialIMPROVEMENTS AND STRUCTURAL:YES NO UNKNOWN NOT APPLICABLE6. (a) Is the wood stove(s)/chimney(s)/fireplace(s)/insert(s) in good working order?Tricky question. You might think, "well, I haven't had any problems". … (1 comments)
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erin mills: Housing Affordability in Toronto and the GTA - 04/07/11 10:05 PM
The ability to afford a house by a family has really never been better,
Have a look at this chart from the Toronto Real Estate Board
Please note, the chart does not appear as I had intended, I will check with the "techie" people at TREB and replace it as soon as I can.
Sorry for the inconvenience
… (6 comments)
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erin mills: Seller Property Information Statement (Part 5) - 04/07/11 08:30 PM
SPIS ~ Document Reviewed Part 5
Ontario Real Estate Source
By Brian Madigan LL.B.This is a further continuing review of the Seller Property Information Statement currently in use in Ontario.This section deals with environmental issues, conservation authorities, buried wells, tanks and pools, as well as the growth or manufacture of illegal substances.The regular print as underlined is the actual document. My comments appear in italics.Seller Property Information Statement ~ ResidentialENVIRONMENTAL: YES NO UNKNOWN NOT APPLICABLE1. Are you aware of possible environmental problems or soil contamination of any kind on the property or in the immediate area?e.g.: radon gas, toxic waste, underground … (1 comments)
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erin mills: Seller Property Information Statement (Part 4) - 04/06/11 10:15 PM
SPIS ~ Document Reviewed Part 4
Ontario Real Estate Source
By Brian Madigan LL.B.This is a fairly controversial statement. It is relatively commonplace is some jurisdictions and among the members of different real estate boards. There is no standard practice in Ontario. So, over the next few days I propose to go through the document line by line. This section deals with local projects, heritage designations, appliances and equipment, warranties and the HST.One simple word of caution at the outset: the is the best document available in a plaintiff's counsel's toolbox. We'll discuss that later.The regular print as underlined is the … (5 comments)
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erin mills: Seller Property Information Statement (Part 3) - 04/05/11 10:13 AM
Seller Property Information Statement ~ Document Reviewed Part 3
Ontario Real Estate Source
By Brian Madigan LL.B.This is a fairly controversial statement. It is relatively commonplace is some jurisdictions and among the members of different real estate boards. There is no standard practice in Ontario. So, over the next few days I propose to go through the document line by line. This section deals with zoning, land use restrictions, and deficiency notices.One simple word of caution at the outset: the is the best document available in a plaintiff's counsel's toolbox. We'll discuss that later.The regular print as underlined is the actual … (2 comments)
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erin mills: Mortgage Rates are Rising - 04/05/11 09:59 AM
Mortgage Rates are Rising
Three major banks, Royal Bank, Bank of Montreal and TD Canada Trust are raising their fixed rate mortgages today.
For those who wish to ensure "peace of mind" in the buying process, this will raise the price of a property.
If the trend extends to variable rates, and across the board to other institutions, this could have a negative effect on the Spring market.
If you are planning to purchase then you should lock-in a mortgage rate today. If the rate goes up before closing you are protected. If the rate goes down, then you get the … (0 comments)
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erin mills: Mortgage Rates ~ 4 April 2011 - 04/04/11 09:47 PM
f you require a referral to a morgage broker, then please call me at 905-796-8888
… (2 comments)
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erin mills: Seller Property Information Statement (Part 1) - 04/04/11 05:02 PM
Seller Property Information Statement ~ Document Reviewed Part 1
Ontario Real Estate Source
By Brian Madigan LL.B.This is a fairly controversial statement. It is relatively commonplace is some jurisdictions and among the members of different real estate boards. There is no standard practice in Ontario. So, over the next few days I propose to go through the document line by line.One simple word of caution at the outset: the is the best document available in a plaintiff's counsel's toolbox. We'll discuss that later.The regular print as underlined is the actual document. My comments appear in italics.Seller Property Information Statement ~ ResidentialANSWERS MUST … (6 comments)
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erin mills: Mortgage Rates ~ 29 March 2011 - 03/30/11 09:47 PM
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, or you would like a free market evaluation of your home in Erin Mills, Credit Mills, Credit Woodlands, Sheridan Homelands, Sawmill Valley, Bridlepath, Pheasant Run, Sherwood Forrest or Mississauga Oakridge, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888www.OntarioRealEstateSource.com
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erin mills: Mortgage Rates ~ 28 March 2011 - 03/29/11 09:40 AM
If you require a referral to a mortgage broker, please call me at 905-796-8888.
… (0 comments)
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erin mills: Earth Hour in Toronto was a Bust - 03/27/11 07:17 PM
Earth Hour in Toronto was a Bust
Ontario Real Estate Source
By Brian Madigan LL.B.
You would think that with all the energy conservation talk these days, that something like Earth Hour would be a remarkable success.
Well, not in Toronto.
It started two years ago, an realized savings of 15% in 2009, that dropped last year to 10%, and it dropped in half this year to 5% savings.
Some Toronto homes were photographed during Earth Hour, and they appeared to be quite illuminated. They included the house of the former Mayor, the present Provincial Energy Minister, and (this is very, … (5 comments)
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erin mills: Historical Development of Fee Simple Ownership - 03/26/11 05:41 PM
Historical Development of Fee Simple Ownership
Ontario Real Estate Source
By Brian Madigan LL.B.It's actually quite difficult to understand the concept of fee simple ownership when it comes to real property without looking at some of the history.We have to go back to England in the pre-feudal days. That would be 1065 and earlier. At that time, there really was no particular concept of private property. People definitely farmed the lands, but their rights were not well-established or well-recognized. Some contemporary historians might argue with this point.In 1066, William arrived from Normandy and defeated King Harold in the Battle … (5 comments)
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erin mills: Restrictive Covenants add Value to "Good Title" - 03/26/11 05:31 PM
Good Title and Better Title
Ontario Real Estate Source By Brian Madigan LL.B.The traditional definition of good title in law, is a title without any qualifications, exceptions or explanations. A solicitor's opinion on title would point out any matters that were relevant to the issue of ownership. Such an opinion might read as follows: "you have a good and free, marketable title in fee simple, subject only to a first mortgage in favour of ABC Financial securing the principal sum of $ 100,000.00 together with interest at a rate of 5 and ½ % per annum, calculated semi-annually and not in … (3 comments)
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erin mills: Maintain Good Financial Records if You want to Sell your Business - 03/26/11 11:50 AM
Maintain Good Financial Records
Ontario Real Estate Source
By Brian Madigan LL.B.If you are in business you should keep good financial records. It just makes sense, but so many small businesses neglect this tedious and somewhat time-consuming task. Careful records take time. And, if you don't really have the time yourself then you should retain a bookkeeper and an accountant.Why? It will simply pay big dividends in the future. I'm not really talking about all the tax deductions that you don't miss because you have proper receipts, or even the warranty claims that you can present … (1 comments)
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erin mills: Who Owns the Waterfront? - 03/23/11 08:37 PM
Waterfront Property: Do You Own it?
Ontario Real Estate Source
By Brian Madigan LL.B.If you are looking at waterfront property, you really want to know where your property ends and the lake begins. You definitely don't want a "gap".So, where's the line?First of all, you have to begin with the water. Let's assume that the body of water is sufficiently large that it is considered to be a navigable water. That basically means that it can accommodate boats, even very small boats. Obviously, this will include lakes, and numerous rivers, but certainly not all of the tributaries.Second, you … (4 comments)
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erin mills: Do Condominiums come from Rome? - 03/23/11 06:15 PM
Condominiums From Ancient Rome
Ontario Real Estate Source
By Brian Madigan LL.B.As just about everyone knows condominiums had their origins in ancient Rome. In fact, you can find that type of reference on just about one half of the brochures for new condominium developers.So, I suppose the question is: is this true? Did condominiums come from ancient Rome? Well, perhaps it's half true. The word "condominium" is a Latin word. However, it is like the word "webominium" which means that you own a small part of a larger website. Now, when it comes to the Romans they didn't really … (4 comments)
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