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Electronic signatures legal in real estate deals
Toronto Star
When Ontario's Electronic Commerce Act was introduced in 2000, it allowed certain documents to be signed with electronic signatures. But documents that create or transfer interests in land and require registration to be effective against third parties were exempted from the law and still needed handwritten signatures. Contracts for the sale or lease of land have had to be in writing and signed for more than 300 years. This requirement under Ontario’s Statute of Frauds dates back to a 1677 English law.
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Real estate: When an asking price is just conjecture
The Globe and Mail
The string of houses that back on to High Park's Grenadier Pond in Toronto's west end are seldom offered for sale and people tend to marvel at the rarefied setting when they are. "I don't think there are too many places where you can walk out on a back terrace and all you see is green," says real estate agent Jillinda Greene. Ms. Greene was prepared for the crowds when approximately 200 people showed up at the two public open houses she held at 25 Ellis Park Rd. in Swansea on a recent weekend.
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Condo buyer's dream home turned into nightmare after pipes spoil view
Global News
A Mississauga woman who bought a pre-construction condominium says she was misled by sales representatives who promised a view of the park. Now, as Sean O'Shea reports, she is staring at a tall tangle of natural gas pipes outside her window and balcony door. Fariba Hatami was among the first customers to buy a pre-construction, low-rise Mississauga condominium in 2012. For $473,000 she says she was promised an unobstructed view.
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Property boom goes industrial: Commercial real estate strength moves east as oil and dollar drop
Financial Post
Industrial space is being gobbled up quickly in central Canada thanks to a low energy prices and a weak Canadian dollar, according to a new report. The report from real estate firm CBRE Inc. was provided exclusively to the Financial Post and shows the Greater Toronto Area has become the tightest market in North America for industrial space, with a 4.2 per cent availability — the ratio of available space to total rentable space.
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Contention grows around LRT route in Brampton
Toronto Star
With the future of mass transit in Brampton about to be decided, one burning issue has divided council, residents and businesses: What route should a provincially-funded regional LRT take? It's an issue that could define much of the city's future. The question is particularly pertinent in Brampton, where the planned route takes the LRT north along Main St., including a 2-kilometre section lined with heritage homes that date back as far as the 1850s, before looping back down from the city's central GO Train station.
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Transit in York Region: Where is it taking us and when will we get there?
York Region
Calling transportation the number one challenge facing York Region, council established a task force in May to tackle the issue. Meanwhile, with gridlock costing the economy of the Greater Toronto and Hamilton Area $11 billion a year, the provincial and federal governments are pouring historic levels of funding into transportation infrastructure.
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CIBC: Canadian condo boom stabilizing market
Realty Today
An article of The Star reported that the booming condo market has been stabilizing rather than a destabilizing in Canada's housing landspace. The article included that the Canadian Imperial Bank of Commerce (CIBC) World Markets Report said that the demand appears to be steady. Also, the number of new units could soon outstrip demand by some 2,000 units a year.
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Mortgage product a potential pitfall, say brokers
Mortgage Broker News
Interest-only mortgages can be a viable solution for those who have run into financial trouble, but first-time homebuyers are now using the product to get a foot in the quickly closing door to Canada's real estate market. "If first-time homebuyers are at the point where they need an interest-only loan, they shouldn't be buying a house," says Terry Lynch, a mortgage agent with TMG Ontario.
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Ontario reforms debt settlement and real estate transaction practices
Ontario.ca
Ontario is strengthening financial protections for consumers using debt settlement services and implementing new rules to protect consumers in real estate transactions, ending unfair business practices. As of July 1, 2015, debt settlement service providers will face limits to how much they can charge a debtor who comes to them for assistance.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Mississauga passes new storm water tax with higher fee for larger homes (Metro News)
Mississauga and Brampton rise on best places to live list (Mississauga.com)
Why the sky still isn't falling on Canada's real estate market (Financial Post)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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