The Real Estate Council of Ontario (RECO) which regulates the real estate industry has taken over Continuing Education to a large extent. Previously, this was a field occupied by independent …
Agents Supporting One Another in Social Media
From a purely ethical perspective, we should not recommend another agent without some sort of knowledge; that can even be second hand through a third party. We can “like” another …
RECO Fine: $500/minute
$500 Per Minute Fine for Breaking and Entering Relatively, that’s a very light fine for breaking and entering which is a Criminal Offence. In this case, it was a RECO …
Prime Interest Rate Forecast
Prime Interest Rate Forecasts from the 6 Major Banks. Here are the latest rate forecasts from the Banks. On average, the Banks expect the overnight rate to increase to 1.25% by …
Commercial Indicators 7 January 2022
Commercial Bond Yields CMB5 Year – 1.90%CANHOU 06/15/27[+0.06] 10 Year – 2.22%CANHOU 12/15/31[+0.05] 10 Year – 2.28%*Est. CANHOU 09/15/32[+0.05] * denotes interpolated rateGoC5 Year – 1.53%CAN 09/01/26[+0.06] 10 Year – 1.73%CAN …
Stigmas, Death, Drugs, Grow Ops and Remediation Disclosure (Ontario)
Question: There are frequently issues with Stigmas, Death, Drugs, Grow Ops. Is disclosure required? If these matters have been remediated, then is disclosure required? Is there any Statute of Limitations …
Immediate Severance of Joint Tenancy under the Family Law Act
This is a situation that doesn’t occur every day, but it happens enough, and real estate agents need to be aware. Question: Assume A, B, and C hold the property …
Should You Get the Acknowledgement Signed by the Other Side?
The Standard Form Agreement of Purchase and Sale contains an Acknowledgement section, following the signatures of the parties and the Confirmation of Acceptance section. Here’s what it says: ACKNOWLEDGEMENT I …
Septic System Liability Issues for Listing Agent (Ontario)
Question: I listed home with a septic tank on a double lot with severance potential. The Buyer’s agent presents a firm offer and the home sells and closes. I begin …
Septic and Water Warranties
Question: I am the Listing Agent and I have an Offer which contains very strong septic and water warranties. What can I do here? Answer: The Buyer is obviously looking …