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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
“Stare Decisis”  (Ontario Law) When we look at two recent cases on the law of disclosure, we need to examine the meanings of stare decisis, ratio decidendi and obiter dicta. Otherwise it will be difficult to appreciate the fine distinction in the two cases and their applicability in law.The latin...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Cannabis will be Legal in Canada on 17 October 2018There will be lots of questions which affect the real estate industry.The Owners of property have to start taking steps now to protect their interests.Employment, public venues, condos, rentals are all affected to some extent.The greatest problem...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Counter-Offer Form (Ontario)The Counter-Offer Form is actually an excellent concept. The difficulty is that it uses the word “accepts”.This is the wrong word. You cannot accept something with conditions, you simply reject it, and propose something else.So, in the Counter-Offer, “adopt” the wordin...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.60%* CANHOU 12/15/23 [+0.01]   ‌ 10 Year - 2.75% CANHOU 12/15/28 [+0.02] * denotes interpolated rate GoC 5 Year - 2.27% CAN 2.00 09/01/23 [+0.02]   ‌ 10 Year - 2.34% CAN 2.0 06/01/28 [+0.02] GOC Bonds are for reference purposes only Floating rate insured cos...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
    TERM POSTED OUR RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 3.19% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.24% Fixed 4 Year 3.89% 3.54% Fixed 5 Year 5.14% 3.29% Fixed 7 Year 5.30% 3.59% Fixed 10 Year 6.10% 3.94% Variable Rate 2.65% Prime Rate 3.70% Benchmark Rate 5.34% Cost per $10...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Signing the Confirmation of Acceptance in OntarioQuestion:Husband and wife are accepting buyer's offer. After husband finished signing he passed on the offer documents over to his wife for signing.Who signs the confirmation of acceptance?Answer:At this point neither, because it has not been accep...

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 3.04% 3.19% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.24% Fixed 4 Year 3.89% 3.54% Fixed 5 Year 5.14% 3.29% Fixed 7 Year 5.30% 3.59% Fixed 10 Year 6.10% 3.94% Variable Rate 2.65% Prime Rate 3.70% Benchmark Rate 5.34% Cost per ...

By Victoria Carter, TwoMoveYou
(TwoMoveYou)
Comments 0
October 2018 NEWSLETTER from Century 21 Realtors, Kirk Rickman and Victoria Carter... TwoMoveYou (Two Realtors MOVE You!) in Durham Region.  Serving Pickering, Ajax, Whitby, Brooklin, Oshawa, Clarington and surrounding areas.  Moms and Halloween!It's creepy and it's kooky -- and it's mom’s favori...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Caveat Emptor ExceptionsThere are a couple of common law rues which get around caveat emptor:1)    Fraud,2)    Latent Defects, and 3)    Fundamental Difference.Generally, the first two are relatively clear and evident. It’s the third one which is often missed.If there’s a fundamental difference b...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Disclosure of Former Grow-Op (Ontario)This is the current view of RECO on this point. It’s becoming quite topical with the introduction of legal cannabis on 17 October 2018.This is the Ask Joe Column on 5 October 2018:With marijuana about to be legalized, I’m concerned about buying a former grow-...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Is a Back-Up Offer to a Conditional Agreement a “Competing Offer”?Question:If there is a conditional offer on your listing from Buyer Agent A and it has been negotiated and it is in the conditional period with no escape and you receive another offer from Buyer Agent B for a "back up" offer. 1)   ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
HIGH RATIO fixed term best discounted rates & posted rates as of October 5, 2018 Terms                           Posted Rates                 Preferred Rates 6 mos                          3.14%                          3.10%1 year                          3.04%                          3.19%2 ye...

By Victoria Carter, TwoMoveYou
(TwoMoveYou)
Comments 0
I found this article and thought I would share it with the world!  https://mycrwork.com/partner/edesigns/preview.asp?act=show&ida=992&idp=96111&id=93356&pers=17118811&type=2&idto=2,237260&t=9 Young adults in the Greater Toronto Area are greatly concerned about housing affordability but many belie...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Stabilizes in September 2018 The Toronto Real Estate Board has just released its statistics for September 2018. Here’s the report: GTA REALTORS® Release September Stats TORONTO, ONTARIO, October 3, 2018 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toron...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.77% CANHOU 12/15/23 [+0.02]   ‌ 10 Year - 2.95% CANHOU 12/15/28 [+0.02]   GoC 5 Year - 2.47% CAN 2.00 09/01/23 [+0.02]   ‌ 10 Year - 2.59% CAN 2.0 06/01/28 [+0.03] GOC Bonds are for reference purposes only

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Another Agent Signs for Another ClientThis time, it wasn’t quite so bad. They had been “texting” with the client so they thought it was OK.No, it’s not OK. Don’t sign for or on behalf of the Client without permission. And, if you need to know: Permission is called a Power of Attorney.So, we have ...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 3.19% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.24% Fixed 4 Year 3.89% 3.54% Fixed 5 Year 5.14% 3.29% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.74% Variable 2.65% Prime 3.70% Benchmark 5.34%

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Be Careful with the Legal DescriptionNorthfield as Vendor sold a parcel of property to North American on 12 June 2007. The parcel comprising 7.31 acres was located at the southwest corner of an intersection in the city of Waterloo. It was sold conditional upon rezoning which took 6 years.The Agre...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 1
Agent Convicted for “Signing” on Behalf of ClientThis is a very serious offence.In this case, a deal fell apart, and the Agent involved actually signed the Mutual Release on behalf of his Buyer client.The Buyer had provided a $10,000.00 deposit. The Agent falsely prepared a Mutual Release which d...

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial Bond Yields CMB 5 Year - 2.65% CANHOU 12/15/23 [+0.01]   ‌ 10 Year - 2.83% CANHOU 12/15/28 [+0.01]   GoC 5 Year - 2.34% CAN 2.00 09/01/23 [+0.02]   ‌ 10 Year - 2.43% CAN 2.0 06/01/28 [+0.01] GOC Bonds are for reference purposes only

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