Buyer: Notice of Revocation

With the new TRESA legislation, we now have lots of new Forms. Here’s Form 108 Notice of Revocation: “Pursuant to the following term of the Agreement of Purchase and Sale …

Buyer and Offer Transparency

The new TRESA legislation permits Offer contents to be shared in whole or in part. Assuming that the Buyer is not pleased with this disclosure of their Offer contents, then …

Time Limit on Residential Leases

Essentially, there’s no time limit on a residential Lease. The provisions under the Residential Tenancies Act prevail over any agreement between the Landlord and the Tenant. While many tenancies start …

Commercial Indicators – 1 March 2024

Commercial Bond Yields CMB5 Year – 3.91%CANHOU 06/15/29[-0.05%]  ‌10 Year – 3.98%CANHOU  03/15/34[-0.03%]  * denotes interpolated rateGoC2 Year – 4.32%CAN 11/01/25[-0.05%]  ‌3 Year – 3.93%CAN 09/01/26[-0.05%]  ‌5 Year – 3.59%CAN …

Seller Has No Equity in Property

Appreciated Source: Investopedia Question: What are the scenarios for the buyer on closing, when there is no equity to cover the outstanding mortgage on the property? Answer: If you are …

Property Falling into the Water

Question: I remember looking at a cottage vacation property that was experiencing a number of issues. The shoreline was eroding fairly quickly and we didn’t want to buy a cottage …

Looking for Better Tenants?

The Residential Tenancies Act provides that Tenants have the automatic right to renewal FOREVER. That’s not good if you are the Landlord. If your property is subject to “rent control”, …

Tenants: Cash for Keys

If you are looking for a specific section in the Residential Tenancies Act referring to “cash for keys”, you won’t find it. It’s not there. This is simply a “work …

Tenants: Good or Bad?

Well, ordinarily you would think that you should be looking for good tenants. But, this is Ontario, and Ontario laws apply including the Residential Tenancies Act. So, who owns your …