Real Estate News from Popular Ontario Cities

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Real Estate News from Popular Ontario Counties

By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Comments 0
Neutral interest rates are coming every Canadian’s way, but will it be the new normal or just a fleeting thing? Bank of Canada governor Stephen Poloz says interest rates may still fluctuate, but he’s certain that they would be significantly lower than prior the financial crisis.Poloz made the sta...

By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Comments 1
2017 is the year of exciting updates and upgrades to Toronto’s transit system. Below, we share with you 6 of the upcoming major transit projects in Toronto that you should absolutely look forward to.SmartTrackThe heavy rail that’s supposed to go along Eglington has been taken off the table, and 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 - 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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
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 ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
    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...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Terms Posted Rates Preferred 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% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.20%  

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Late Winter Pool ClauseHere is a late winter pool clause for Buyers. The pool right now is closed and no ine=spection can be done. It's not a worthless pool. The Buyer is actually paying extra money.So, consider something like the following: Pool ClauseThe parties agree that the swimming pool sha...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
House Scooped From Under My Clients (Ontario)Question:I am acting on behalf of a Buyer. We came across a property and based on others that we had seen, this was a strong candidate. We booked an appointment this afternoon to show the new listing. I was told that there was one Offer that would be p...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Maximum Interest in OntarioQuestion:I heard that there was a maximum amount of interest that can be charged. Reluctantly, I may have to offer some financing. I’m annoyed, but I will probably have to go ahead however, I would like to charge the maximum.Answer:The highest rate is 60% compounded yea...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Story or Storey for House Levels in Ontario?The Britich spelling is “storey”The American spelling is “story”When you are talking about the level of a house, in Canada, it’s “storey”. The Canadian spelling recognized as correct at the present time in universities is “storey”. American spellings ar...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Negotiating Commission with a FSBO Question:Confirmation of Cooperation question: The scenario is as follows - I am representing the Buyer. They would like to submit an offer on a property listed with a flat fee brokerage and the commission advertised on the listing is significantly less than wha...

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 - 1.63%*Canada housing 06/15/22 [-0.04]       5 Year - 1.16%CAN 0.50 03/01/22 [-0.04]       0.97%                      [-]                        10 Year - 2.30%Canada housing 06/15/27 [-0.08]       10 Ye...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Competing Offers: The RECO Rules (Ontario)Question: What are the RECO rules that states that in a multiple offer situation, the listing brokerage must disclose a multiple representation situation?For clarity purposes: Brokerage A lists a home and receives offers on it from Brokerage A, Brokerage ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Using a Very Similar Domain Name to the Developer (Ontario) Question:A condo developer in the area commenced marketing a new condo project. I have a very similar name. Their condo project doesn’t get the same number of hits as I do, and I rank #1 on Google for their project.They want me to change...

By Sara Kareer, Boutique Real Estate Services to Buyers & Sellers
(Kingsway Real Estate Brokerage)
Comments 2
SOLD - 286 CENTRE STREET NORTH, BRAMPTON ON Despite the terrible weather on Sunday, we still managed to receive multiple offers on this lovely detached Bungalow at 286 Centre Street North in Brampton ON.  Much to my Sellers delight, we managed to sell their home in 3 days and $50,000 above their ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
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 per ...

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