Under Section 347 of Criminal Code, it is an offence to enter into an agreement or arrangement to receive interest, or actually receive interest, at an effective rate exceeding 60% annually. …
Commercial Indicators – 24 March 2023
Commercial Bond Yields CMB5 Year – 3.05%*EST. CANHOU 06/15/28[-0.11%] 10 Year – 3.21%*EST. CANHOU 06/15/33[-0.07%] * denotes interpolated rateGoC5 Year – 2.74%CAN 09/01/27[-0.14%] 10 Year – 2.69%CAN 12/01/32[-0.08%] 15 Year – 2.93%*Est. 12/01/38[-0.06%] 20 Year …
TRESA Update: Short Delay
The new TRESA legislation will be delayed somewhat. It should come into force shortly. Phase 1 came into force and permitted registrants to use different words to describe themselves and …
How Do You Remove Conditions?
Question: The Buyer removed all conditions with a Notice of Fulfillment (NOF). There were four conditions , three were due on 23 March, and one was due 29 March. By …
Holding onto Two Houses
Question: If someone lived in their home for a number 25 years and then purchased a new property which they occupied as their principal residence, while renting out the first, …
Commissions Upon Cancellation of Listing
There are many times when a property is listed for sale but it really “never gets sold”. And, that was expected! So, how does the Listing agent get paid? The …
Commissions to be Paid ONLY upon Successful Completion
Question: My Seller client sent me a request upon review of the draft listing agreement. “Can we add a confirmation that if buyer backs out we are not on hook …
Mortgagees Must Take Possession “Peacefully”
The Ontario Court of Appeal reviewed the rules that apply to mortgagees who take possession of properties when their mortgage is in default in Zapfe Holdings Inc. v. 1923159 Ontario …
A Brief Explanation of Designated Agency
We have to go back over 30 years. Sellers paid a commission to the Listing Brokerage which would then share it with a co-operating Brokerage. However, how they did this …
Consumer Relationships Guide in Alberta
TRESA We are expecting TRESA to be in force in Ontario on 1 April 2023, We are still expecting RECO to introduce and “Information Guide”. We are 10 days out …