Federal money laundering and anti-terrorist financing rules require real estate agents and brokers to collect personal identification information from buyers and sellers. It is the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents, among other professionals and services covered ...
Continue ReadingAnd how much money are you going to get? Liquidation One often-overlooked exit strategy is simply to call it quits, close the business doors, and call it a day. (not a great one). If you liquidate, however, any proceeds from the assets must be used to repay creditors. The remainder ...
Continue ReadingWhen considering which of two or more competing offers to accept for your property, there is no doubt price will play a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket. However, price ...
Continue ReadingThere are various approaches to selling a business and the following will provide one framework that is typical. The purpose is to help potential sellers understand the process and to assist in the questions you may have as they begin to think about selling their business. Step 1. Preparation Prepare ...
Continue ReadingWe are hearing that during this period of interest rate hikes more than one buyer has put an offer in on a property, conditional on financing and/or inspection, and when it came time to waive it they failed to do so. This is even though there was no legitimate ...
Continue ReadingFor most individuals, investing in commercial properties in Ontario can be lucrative. After all, the province boasts a thriving economy, diverse industries, and a vibrant community. This makes investing there a great opportunity for those who wish to diversify their investment portfolio and grow their business operations. That being said, ...
Continue ReadingBuying a CRE asset above its value or at a low cap rate is rarely a route to a successful transaction. Most of you have heard about the Seven Deadly Sins that include; pride, envy, gluttony, lust, anger, greed and sloth. There are also Seven Deadly Sins of commercial real ...
Continue ReadingDon’t brush off these telltale signs of a bad real estate agent Did you choose your real estate agent based on a friend-of-a-friend’s referral, a quick Google search, or even a flyer in a mailbox? Is your gut telling you it isn’t the right fit, but you’re not sure if ...
Continue ReadingAre we able to see what others are offering before we make ours? This has been a more common question lately, as many transactions are taking place with multiple (competing) offers. Sellers represented by real estate brokerages in Ontario accept offers in what is referred to as closed bidding process, ...
Continue ReadingPreface If you are reading this, you may be considering acquiring a commercial property, for example, a commercial or industrial condo, an office building, a manufacturing/warehouse facility, apartment building, shopping centre, strip mall etc., and this generally involves the negotiation of a commercial mortgage. While most of you may have ...
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