I am often asked by clients about late interest on a real-estate transaction. Most people have a significant fear of late interest, but I believe it is nothing to fear. We prefer to close all of our transactions without late interest, and with the launching of Gap coverage on almost all title insurance policies, late interest is less common that it once was. Late interest is paid in a transaction when the total of the funds are not available. Currently late interest is set in most contracts at the current Bank of Canada overnight lending plus 4% ONL +4...