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
Term Posted Rate Preferred  Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.04% Fixed 2 Year 3.74% 2.89% Fixed 3 Year 3.89% 2.79% Fixed 4 Year 3.94% 2.94% Fixed 5 Year 5.34% 2.74% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.34%

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Spousal Consent and the Pre-nuptial Agreement in OntarioQuestion:Under the pre-nuptial agreement there are no rights whatsoever for the wife in respect to the matrimonial home. Does she still sign spousal consent?Answer:The pre-nuptial agreement can deal with every aspect of the matrimonial home ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Supreme Court of Canada Agrees to Hear “Good Faith” ArgumentThe Supreme Court of Canada established new law related to “good faith contractual performance” when it decided Bhasin v. Hrynew on 14 November 2014.Well, they are going to hear another case on “good faith” trying to push the envelope ju...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 1.93%* CANHOU 12/15/24 [+0.04]   ‌ 10 Year - 2.02% CANHOU 09/15/29 [+0.04]   * denotes interpolated rate GoC 5 Year - 1.57% CAN 1.50 09/01/24 [+0.04]   ‌ 10 Year - 1.63% CAN 2.25 06/01/29 [+0.04] GOC Bonds are for reference purposes only Floating rate insured ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Problem with a Late Deposit in OntarioQuestion:First: My listing, the property is conditional (different buyer agent) on SBP (sale of the buyer’s property) with 48 hour escape clause.Second offer (not mine) comes in a month later and is accepted conditional on first offer failing.First buyer is p...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Stacked Deals: Why Pay for Both?The Buyer runs into a little bit of difficulty and cannot close on the purchase. That’s fine, the market tumbled unexpectedly and they ran into difficulty.It’s reasonable to pay damages which relate to the failed purchase. The Seller obviously had some problems and...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
 Can You Tell a Secret?Let’s assume that Bob, the Listing Agent is acting for Mary in respect to the sale of her house. Bob hosts an Open House and Fred and Wilma attend. They are interested and would like to put in an Offer.The house is listed at $999,000 and has just been on the market for a we...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commission Reductions in OntarioQuestion:  I just got a call from a buyer agent who is presenting an offer and would like to reduce commission substantially. We are aware we will be in multiple offer situation shortly and need to know if A) we have to disclose the agent’s reduction and B) by how ...

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% 3.04% Fixed 2 Year 3.74% 2.89% Fixed 3 Year 3.89% 2.79% Fixed 4 Year 3.94% 2.94% Fixed 5 Year 5.34% 2.74% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable 2.90% Prime 3.95% Benchmark 5.34%

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Missing DishwasherQuestion:If a built-in dishwasher, which would be classified as a fixture, was removed, and it was in the agreement, but the sellers moved out of the Province, who is responsible and what will be done? Answer:Likely, nothing will be done.The Sellers are responsible, but they are...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Do You Have to Disclose a Back Up Offer?Depends who you ask!         If you ask RECO, the answer is “yes”.         If you were to ask a Judge, the answer is “no”. But, not everyone is governed by RECO, it’s only real estate registrants. So, generally, for everyone in society the answer would be “...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Time is of the Essence in Real Estate ContractsThe meaning of this statement should be quite clear. Apparently, it’s not.Many practitioners opt for the “kind of, sort of…” time. In other words, deadlines are just deadlines, if they are missed “so what”, and “ I am now ready to do what was specifi...

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 3.59% 3.04% Fixed 2 Year 3.74% 2.89% Fixed 3 Year 3.89% 2.79% Fixed 4 Year 3.94% 2.94% Fixed 5 Year 5.34% 2.74% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.34% Cost p...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 1.87%* CANHOU 12/15/24 [+0.10]   ‌ 10 Year - 1.95% CANHOU 09/15/29 [+0.09]   * denotes interpolated rate GoC 5 Year - 1.52% CAN 1.50 09/01/24 [+0.09]   ‌ 10 Year - 1.56% CAN 2.25 06/01/29 [+0.10] GOC Bonds are for reference purposes only Floating rate insured ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto and GTA Markets in June 2019 This is the recently released report of the Toronto Real Estate Board concerning the June 2019 results:           GTA REALTORS® Release June 2019 Stats TORONTO, July 4, 2019 – The new President of the Toronto Real Estate Board, Michael Collins, announced that ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Over-Holding Seller and Related Problems (Ontario)The Sellers were to have vacated by 1:30 pm. The problem is that no one told them that including their own lawyer. Mid-morning on the day of closing, no one could have told them that it would have closed for sure at 1:30 pm. So, to a certain exten...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Non-Resident Sales Tax and Citizens (Ontario)Question:If someone is a Canadian Citizen but a non-resident. Do they still pay foreign buyer land transfer tax of 15%? Or it doesn't apply? I'm confused because they would still be a non-resident, but they are a Canadian citizen. Answer:No. The NRST i...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
 Back Dating the Buyer’s Representation Agreement (Ontario)Question:Can a BRA be back dated?For example, you date a Buyer Representation Agreement (BRA) as of Saturday. You then meet the clients and go over it. They want to take it home to read over and on Monday are ok signing it.Can they sign i...

By Sham Pathania
(Zolo Realty, Brokerage)
Comments 0
 Rise At The Lake Prices Starting in The $500'sMaginficent View Of The Lake OntarioPictureque Port Credit !!Modern Condos and TownsLocated at 501 Lakeshore Road East, Mississauga, Rise at Stride Condos are being developed by Kinsmen Group. The condos in development offer a stunning view of Lake O...

By feeDuck - Low Commission Real Estate Agents, Serving Toronto and Vancouver
(feeDuck)
Comments 0
It seems that finding a Toronto home for less than $1 million is near impossible these days but have you considered looking for a home beyond the downtown area? Some Toronto neighbourhoods offer great properties in relatively affordable areas that aren’t too far from the city. Before you settle f...

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