Real Estate News from Popular Ontario Cities

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Real Estate News from Popular Ontario Counties

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Fixed term best discounted & posted rates as of Oct 16, 2017 6 mos                                 3.10%         3.14%1yr                                     2.64%          3.04%2yr                                     2.54%          3.04%3yr                                     2.64%          3.44...

By Susan Emo, Kingston and the 1000 Islands Area
(Sotheby's International Realty Canada - Brokerage)
Comments 1
I'm pleased to announce I have completed my Luxury Home & Estate Marketing program and am honoured to be a member of the Institute for Luxury Home Marketing.I look forward to representing luxury home owners in the Greater Kingston and area and continuing to provide them with all the tools and exp...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
The Role of an Expert Witness in Real EstateThere are a variety of different roles for an Expert Witness in real estate matters.The first question would be: what’s the problem?The next question would be: who’s the expert in that field?Nature of the ProblemThis is the primary issue. What happened?...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Home Inspection Review is a MUST for an AgentSome Agents don’t like to get involved with home inspectors. Some Agents prefer that no inspections be undertaken. Some Agents don’t review the lengthy reports, and some Agents don’t review the summaries with their clients.The objection seems to arise ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.11%CANHOU 12/15/22 [-0.05]       5 Year - 1.74%CAN 1.0 09/01/22 [-0.04]       1.23%                     [-]                       10 Year - 2.58%*CANHOU 03/15/28 [-0.08]       10 Year - 2.05%CAN 1.0 06...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Comparing Mediation and Arbitration for Defaulted Real Estate DealsMediation is much less expensive than Arbitration. If price is the motivating factor, then go with mediation.There are various agencies and associations which offer both mediation and arbitration. Often, in a particular field it w...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Access With and Without Notice to Ontario Residential PremisesQuestion:Do the provisions of the standard lease form require notice?Here’s Form 40013. ACCESS: The Landlord shall have the right, at reasonable times to enter and show the demised premises to prospective tenants, purchasers or others....

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Is Commission Owed on an Agreement which doesn’t Close?To answer this question we’ll have to look at the Listing Agreement.Here’s what it says:Part 1“In consideration of the Listing Brokerage listing the Property, the Seller agrees to pay the Listing Brokerage a commission of ...............% of ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Arbitration will work for Defaulted Real Estate TransactionsThis is a companion article to the one on Mediation.The Spring GTA real estate market saw a sudden and unexpected increase in prices, followed by an equally abrupt and sudden decrease in prices. This meant that many Buyers couldn’t close...

By Gloria Valvasori, ASA, Outstanding Service Since 1987 416-717-6331
(Better Homes and Gardens Real Estate Signature Service)
Comments 0
Home Energy Audit ChecklistWe all know and recognize that saving energy is cost effective, but you may not recognize how inefficient your home really is until you conduct an energy audit.  You can spot many problems in your home with a simple walk-through.  Keep a checklist of areas you inspect a...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Swimming Pool Clause which Needs Some Work (Ontario)Here is a swimming pool clause which many agents seem to be using:“The Buyer and Seller acknowledge that the swimming pool was not operational at the time of inspection. The Buyer and Seller agree that the Buyer's solicitor shall hold back the a...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Mediation as the Solution for Defaulted Real Estate TransactionsThe Spring GTA real estate market saw a sudden and unexpected increase in prices, followed by an equally abrupt and sudden decrease in prices. This meant that many Buyers couldn’t close their deals. The mortgages couldn’t be arranged...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Agent’s Negligence in the Selection of the Title Search Date It seems unusual for a real estate agent to be selecting a title search date without speaking to the Client's lawyer, yet, they do all the time. Rarely, if ever, is there any pre-agreement consultation. But, what if the title search per...

By Gloria Valvasori, ASA, Outstanding Service Since 1987 416-717-6331
(Better Homes and Gardens Real Estate Signature Service)
Comments 5
Its Thanksgiving Day here in Canada... Thanksgiving Day is a national holiday celebrated in Canada, the United States, some of the Caribbean islands, and Liberia.  But not all Americans celebrate Thanksgiving.Thanksgiving is some Native Americans' "Day of Mourning."  To them it is a reminder of t...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.17%CANHOU 12/15/22 [+0.03]       5 Year - 1.79%CAN 1.0 09/01/22 [+0.03]       1.23%                     [-]                       10 Year - 2.69%*CANHOU 03/15/28 [+0.05]       10 Year - 2.14%CAN 1.0 06...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Rules Related to Signing Representation Agreements in OntarioBuyer Representation AgreementsThere are 4 steps to be followed.If a brokerage enters into a buyer representation agreement with a buyer and the agreement is not in writing, 1)    the brokerage shall, before the buyer makes an offer, 2)...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Normalizes in September 2017 That appears to be what is happening now. Have a look at the numbers. Also, you might recall that the Toronto Real Estate Board would place its own media spin on the numbers. Now, they simply say they have released the numbers and the conclusions are up...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commissions From Buyer on Defaulted DealQuestion:I was the Listing Agent and arranged for the sale of my client’s property in May with closing in late August. Buyer provided a $100k deposit. On the day of closing Buyer's lawyer did not accept the title and we received a letter from Buyer’s legal ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Notice to Remove Conditions in OntarioQuestion:When do you use notice to remove condition? And what is the difference between waiver and removing condition. The Course suggests that in lieu of  a Waiver, you can use a Notice of Fulfillment?Answer:The Notice to Remove a Condition is used to implem...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Riparian Rights and Locating the Evidence (Ontario)Question:The survey shows the property line is at water's edge. The Land Registry shows the line ends there too. The City says there aren't riparian rightsThe listing agent insists that there are riparian and is citing a lawyer’s opinion about it...

Ontario Real Estate Agents and Real Estate Professionals