Real Estate News from Popular Ontario Cities

View all cities

Real Estate News from Popular Ontario Counties

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 - 2.07%*CANHOU 06/15/23 [+0.03]       5 Year - 1.71%CAN 1.0 09/01/22 [+0.03]       1.37%                     [-]                       10 Year - 2.29%*CANHOU 03/15/28 [-0.01]       10 Year - 1.86%CAN 1.0 0...

By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Comments 0
Ontario has the highest auto insurance premiums in Canada despite the province having low rates of collisions and deaths – a big factor to that is the prevalence of auto insurance fraud.Changes AheadOntario is looking into ways to push for changes in the auto insurance industry to help try to com...

By Dan Papadapoulis, Home equity loans, second mortgages Toronto
(Mortgage Central Nationwide)
Comments 1
Thousands of Canadians have fallen victim to scammers who pretend that they are from the CRA. Unsuspecting victims are usually contacted with threatening texts, emails, or calls telling them that a recent audit has uncovered that they owe a substantial amount to the Canada Revenue Agency. The CRA...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Exclusives Listings and Seller’s InterestQuestions:is there a reason a seller wouldn't be willing to see an offer from a co-operating broker if they don't have to pay commission - ie buyer pays (this is for an Exclusive Listing situation)?Also if the listing agent has a very strong potential offe...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
 A Few Points About Joint Tenancy in OntarioIf two people acquire property as joint tenants, they must hold it 50/50. If there are three, then each must hold one-third.If it were to be 90/10, that's fine, but that's not joint tenancy, that's tenancy in common.The interest is an undivided interest...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Root of Title Example (Ontario)Let's assume that A grants the right to B to sell his property. That right is evidenced by a Power of Attorney.A dies, and the POS is no longer valid.B sells A's property to C, using the invalid POS.On closing, this is discovered and there is no solution.C is not ob...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Root of Contract and Root of Title (Ontario)Question:1) What is a good root title? I am referring to Clause 10 in te Agreement of Purchase and Sale?2) What is root to contract? Answer: The same term is used several times over with different meanings for each.When you are talking about something g...

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 - 2.05%*CANHOU 06/15/23 [+0.01]       5 Year - 1.66%CAN 1.0 09/01/22 [+0.01]       1.37%                     [-]                       10 Year - 2.30%*CANHOU 03/15/28 [+0.02]       10 Year - 1.86%CAN 1.0 0...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Extending the Closing Date with an Enforceable Term (Ontario) Question: Looking for a good clause for a flexible closing date that is mutually acceptable to both buyer and seller? Both Buyer and Seller want to have the option of moving the closing date if needed since both parties have a house to...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Counting the Conditional days in OntarioQuestion:The confirmation of acceptance was signed on Thursday at 1:30pm.According to this clause...what would be the last day?This Offer is conditional upon the Buyer arranging satisfactory financing within 5 banking days of the date of acceptance……Answer:...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Seller’s Furnace Warranty ExpirationQuestion:How you all interpret “completion of transaction” in this clause:“The parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property at completion of this t...

By Gloria Valvasori, ASA, Quality Service, Exceptional Results, Since 1987
(Better Homes and Gardens Real Estate Signature Service)
Comments 3
Here are the latest stats as posted from the Toronto Real Estate Board for the Mississauga area.  These stats compare November, 2017 to the stats from November, 2016.It clearly is a testament that we are back to stable market. Number of sale have decreased 4.19% from 787 last November to 754 this...

By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Comments 0
It is often the case that politicians will clamor to take credit for new transportation improvements such as the opening of a new subway. Though certain figures and political  parties will surely benefit from having better access to cheaper and easier transportation, no one could be happier than ...

By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Comments 0
As December begins, Toronto homes sales are expected to pick up. Buyers are looking to have Agreements of Purchase and Sale finalized before the new mortgage stress test takes effect Jan 1, 2018  

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 4
Fixed term best discounted & posted rates as of Dec 4, 2017 6 mos                                 3.10%         3.14%1yr                                     2.64%          3.04%2yr                                     2.54%          3.24%3yr                                     2.69%          3.44%...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Agent Fails to see SPIS Grow House Disclosure (RECO Discipline) We have a property that used to be a grow house. We have the Sellers complete a Seller Property Information Statement, and yet Alvin Presley acts for Martha when she purchases the property without any knowledge that it was ever a for...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
 Publishing Recent Sold Prices on the Internet: TREB and Competition IssuesThese problems have been going on for quite some time. There is a decision of the Federal Court of Appeal on point (1 December 2017), that goes against the Toronto Real Estate Board’s position, so they may indeed appeal to...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 3
Legality of Using Old Forms (Ontario)Question:I received an offer where APS version used is 2013 form. Can this be acceptable?Answer:There is a requirement to use current Forms. So, this would be three years out of date. There have been some changes, but the deal between the parties is still a va...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Countering an Offer is also a Rejection (Ontario)Question:You receive an offer for your sellers. They want to sign it back just a little bit higher, but are afraid of losing the offer. We've had the conversation of all that can happen with it if it gets sent back. The Buyer’s agent is giving me a...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 3
Fresh Copy or Use Initials from Illegible CopyQuestion:Offer was sent back a few times and is barely readable due to scanning. If I were to redraft the contents of the offer on a new offer form, would initials for any changes in counter offer need to be added, or just the final offer with initial...

Ontario Real Estate Agents and Real Estate Professionals