Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
Deposit of 5% Forfeited notwithstanding Profit on ResaleThe issue of the deposit came up once again in the Superior Court of Justice before Justice Shaw in Sinha v. Shabestari, 16 January 2018.                                                                       Summary of the Deal         vendo...
12/11/2018
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.19% Fixed 2 Year 3.74% 3.19% Fixed 3 Year 3.89% 3.39% Fixed 4 Year 3.94% 3.64% Fixed 5 Year 5.59% 3.49% Fixed 7 Year 5.80% 3.74% Fixed 10 Year 6.10% 4.04% Variable 2.90% Prime 3.95% Benchmark 5.34%
12/11/2018
Automatic Forfeiture of Deposit Clause (Ontario)Question:Is there a clause that says if the Buyer firms up but fails to close that the deposit will automatically go to the Seller? Answer:It's ineffective, if someone opposes it. But, that's the effect if you call it a deposit. If you call it a par...
12/09/2018
Commercial Bond Yields CMB 5 Year - 2.51%* CANHOU 06/15/24 [+0.02]   ‌ 10 Year - 2.67% CANHOU 12/15/28 [+0.05]   10 Year - 2.70%* CANHOU 09/15/29 [+0.05] * denotes interpolated rate GoC 5 Year - 2.04% CAN 2.00 09/01/23 [+0.03]   ‌ 10 Year - 2.11% CAN 2.0 06/01/28 [+0.05] GOC Bonds are for refere...
12/07/2018
Specific Performance Ordered for Commercial Transaction The Ontario Court of Appeal recently looked at a case involving Specific Performance in a real estate transaction for commercial property in THMR Development Inc. v. 1440254 Ontario Ltd., 28 November  2018. The purchaser, THMR Development In...
12/06/2018
Cancellation Price: Tax Arrears Certificate (Ontario)Question:I have a questions regarding paying the cancellation price on Tax Arrears Certificate.What does it mean by another person paying the taxes owed have a lien with priority? What type of individual might that be?A tax cancellation certifi...
12/06/2018
True Condition Precedent: A Notice of Fulfillment is Not Required The Ontario Court of Appeal recently looked at a case involving a True Condition Precedent in THMR Development Inc. v. 1440254 Ontario Ltd.,  28 November  2018. The purchaser, THMR Development Inc. wished to acquire certain propert...
12/06/2018
Caution: Using a Notice of Fulfillment for an Inspection ConditionSometimes Buyers will use the Notice of Fulfillment to remove the inspection condition.Here’s how that provision, as annotated usually reads:Inspection:Actual ConditionThis Offer is conditional upon the inspection of the subject pr...
12/05/2018
Rejecting the Waiver: Is that Allowed?Increasingly, Listing Agents are complaining about receiving Waivers rather than Notices of Fulfillment.They want the “NOF”. They resent receiving the Waiver. They say that the Buyer’s Agent should “go back to school” to learn the right way of doing things.Hi...
12/04/2018
Court Confirms Duty to Read Electronic DocumentsA real estate agent and a client were undertaking business together by “long distance”. Documents were forwarded by an electronic software and signature platform known as “Authentisign”.Included among the documents was a Buyer Representation Agreeme...
12/04/2018
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Brian Madigan

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