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
The Two Parts of Every Legal Decision If a Judge has issued “Reasons for Judgment”, then you will find that there are two parts: 1.     Ratio, and 2.     Obiter. In relying upon the case, as a precedent in future cases, you must make the distinction. Meaning of "Ratio Decidendi"When it comes to t...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Lot Falls Short of “more or less”: Deposit ReturnedThe Ontario Court of Appeal just released a decision about a deposit on 12 December 2018 in Hosseinzadeh v. Pringle.The case is rather straightforward. The parties were troubled over the description of the property. The Purchaser was a Builder an...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Agreements: Residential and Commercial (Ontario)Question:What are the differences between Form 100 (residential) and Form 500 (Commercial).Answer:Look at Clause 7 which deals with the HST.In Form 100, it’s included in the purchase price.In Form 500, it’s in addition to the purchase price.There ar...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.50%* CANHOU 06/15/24 [-0.01]   ‌ 10 Year - 2.66% CANHOU 12/15/28 [+0.01]   10 Year - 2.69%* CANHOU 09/15/29 [+0.01] * denotes interpolated rate GoC 5 Year - 2.06% CAN 2.00 09/01/23 [-]   ‌ 10 Year - 2.12% CAN 2.0 06/01/28 [+0.01] GOC Bonds are for reference ...

By Roch St-Georges, Real Estate Agent | Agent Immobilier
(EXIT Realty Matrix LTD., Ottawa, ON)
Comments 0
When talking about design trends we often talk about the colour of the year. In 2019 this colour is the Nightwatch Green.Be prepared to see this shade of green in magazines, on websites, restaurants and shops as well as people homes. Nightwatch Green is a strong and dark colour so it must be used...

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

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

By Gloria Valvasori, Accredited Senior Agent, REAL Experience | REAL Commitment | REAL Results!
(BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE)
Comments 0
Here is a breakdown of what the real estate market looked like in November, 2018, witha year over year comparison as well as seasonally adjusted. 

By Victoria Carter, TwoMoveYou
(TwoMoveYou)
Comments 1
 Sometimes you know a desirable street when you see one. For example, it’s obvious that a home on a cul-de-sac is enticing mainly because there isn’t any through traffic.What are the other characteristics of a desirable street that may not be as obvious? Here are just a few:A sidewalk in front of...

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

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
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...

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

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 3
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...

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

By Gil Strachan
(Electrospec Home Inspection Services)
Comments 0
What is an air exchanger, and what is it supposed to do?An air exchanger, also known as a heat recovery ventilator (HRV) or energy recovery ventilator (ERV) is typically designed and installed to exchange the full volume of air in a home about four times every 24 hours. Modern air exchangers are ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 4
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...

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

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

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Second Wife Unjustly Enriched by Life Insurance PolicyThe field of law known as “unjust enrichment” comes up more and more. In the case of Moore v. Sweet, the Supreme Court of Canada had to consider such a case.Briefly, Michelle Moore separated from her husband Larry Moore. They arrived at a deal...

By Victoria Carter, TwoMoveYou
(TwoMoveYou)
Comments 4
The last thing you want on moving day is a problem with the moving company. Ideally, you want them to show up on time, handle your possessions with care, and act professionally.  Here are some tips that will help you choose the best mover for your needs.  Get a recommendation from someone you tru...

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