Offer Expiration

Question: There seems to be a lot of confusion regarding an irrevocable in an offer. Here’s the dilemma. An offer is written with an irrevocable tonight at 7:00 pm. It’s …

Deposit Due: Time and Date

Question: A property sold last night (May 3rd, a Friday at 9:00 pm) conditional on financing and inspection. Conditions expire on May 6th at 11:59. When is the deposit due? …

New Capital Gains Tax Inclusion

Let’s consider the implications of the new capital gains tax inclusion. Scenario: Muskoka Cottage An elderly woman owns a cottage in Muskoka. She inherited it from her parents. Her principal …

Documentation and Risk Management

An issue arises and later it is litigated. What’s the best way to protect yourself? Traditionally, the Policeman’s notes have been the “gold standard”. Well, maybe not anymore! Are the …

Commercial Indicators – 19 April 2024

CMB5 Year – 4.05%CANHOU 06/15/29[+0.03%]  10 Year – 4.19%CANHOU 03/15/34[+0.01%]  Floating Rate insured cost of funds5.35%[-]  Prime Rate 7.20% [-]  GoC2 Year – 4.35%CAN 02/01/26[+0.04%]  3 Year – 4.00%CAN 03/01/27[+0.04%]  5 Year – 3.76%CAN 03/01/29[+0.03%]  10 Year – …

Agreement: Deposit Default Delivery Clause

Question: What about the following clause in Schedule “B” from the Listing Brokerage (not so much from the grammatical correctness standpoint). I am representing the Buyer. “This Offer is subject …