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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
Deal Closed Roof Completed in 2004 or 2009 (Ontario)Question:I bought a house last year. The Flyer and the MLS both stated that the roof was “done” in 2009. I was up in the attic and found an Invoice that said 2004.There was nothing about this in the Agreement of Purchase and Sale.Do I have any r...
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 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
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 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Am I Obligated to Respond within the Irrevocable Time? (Ontario)Question:I am the Listing agent and have received an indication from a Buyer’s agent that my Seller will not accept.Am I Obligated to Respond within the Irrevocable Time?Answer:If you are inquiring about the legal provision in the Ag...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Interference With BRA Contract?Question:A potential Buyer is very upset with their agent. They have signed a Buyer Representation Agreement.How can I deal with this potential Buyer and stay out of trouble? Answer:This is potentially a very difficult situation. The best course of action is to have...
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 - 1.11%*Canada housing 12/15/21  [-]       5 Year - 0.68%CAN 0.75 09/01/21 [-]       0.95%                   [-]                                              10 Year - 1.60%Canada housing 09/15/26 [-0.01]...
By Nancy Benson, Award Winning Agent | Buy |Unique Homes| Sell
(RE/MAX Hallmark Realty Group, Brokerage)
Comments 0
We’ve changed the stationery but it’s business as usual for Nancy Benson and Associates You might have noticed a new logo on our website and our office stationery, but as we head into the fall season, I’d like my clients to know that it’s been business as usual at Nancy Benson and Associates sinc...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
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 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
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 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%
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 - 1.11%*Canada housing 12/15/21 [-0.01]       5 Year - 0.67%CAN 0.75 03/01/21 [-]       0.95%                   [-]                                              10 Year - 1.63%Canada housing 09/15/26 [+0.0...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
What About “AS IS” in the Listing (Ontario)Question:A property was noted: "As Is" in listing, but no reference in the Agreement. There was no “inspection” done with a Home Inspector. Upon last visit, the AC is sounding rough and ice is appearing. Buyer wants it rectified and Seller says “no”. APS...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Agent Fails to Explain Commission Reduction Properly: Faces DisciplineThe Real Estate Council of Ontario just looked at a case involving a proposed commission reduction.The Agent offered an inadequate but self-serving explanation to the clients and later faced disciplinary action.Robert Zimmerman...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Tell Everyone About Commission Reduction Proposal: RECO DisciplineBetty Crocker was the Listing Agent and hosted a bidding war.One of the agents offered to reduce his commission.The property was listed at $1,198,000.00 and the Listing Agreement provided:“…. the commission breakdown to be as follo...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Furnace Rental in OntarioQuestion:An agent listed a condo with a rental furnace. Brokerage remarks state furnace is rental $90 month. Offer did not include the rental and both agents missed it, supposed to close tomorrow and buyer’s lawyer 2 days ago said we are not closing until the contract is ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 3
Sorry, Just Moving In! (RECO Discipline)This is just one more “trespassing case”.Here, the Buyers had a deal and the transaction was scheduled to close on 24 April 2015.The Buyers completed the final inspection and requested that the Sellers leave the key in the lock box. The Buyer’s agent convey...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%  
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Another Trespassing CaseThe Real Estate Council of Ontario looked at another “no trespassing” case this Spring.The Buyers’ representative booked an appointment, didn’t show up, and released the lockbox code to his clients directly. They entered and used the Seller’s measuring tape which they loca...
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 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
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 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%

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