Estate Sale: Closing Extension Clause DELAYED PROBATE Here is a clause provided by a listing agent to be included in the Agreement of Purchase and Sale: “The Buyer and Seller …
Buyer’s Holdback for Scratches
Question: What happens if the Buyer threatens to holdback $20,000 from a $935,000 purchase claiming that there are scratches on the floor? These scratches existed before the showing, however he …
RECO Discipline: Zoning and Development Disclosure
This case seems rather straightforward. The owner of a property situate in the Grand River Conservation area lists his property for sale. The agent, Ralph Murphy fails to ascertain the …
RECO Discipline: True Copy of Listing
Well, this might sound a little on the trivial side, but does a registered sales representative have to provide a true copy of the listing agreement to the seller? Of …
Requisitions in an Agreement
This particular paragraph is a little bit confusing so we’re going to have to pick it apart line by line. However, before we do, you have to understand that there …
The CMA for Divorcing Couples
From time to time agents will be asked to do a CMA (comparative market analysis), that is an opinion about the current value. These situations are always tricky. If it’s …
Reducing the Buyers from 2 to 1
Question: I am acting for the Seller in a conditional deal with two Buyers: (1) Is it ok remove one Buyer via amendment while the offer is still conditional and …
Material Facts for a Buyer
By Brian Madigan LL.B. Real estate professionals are obligated to conduct their own due diligence when acting for a buyer. That is part of their “professional responsibility”. Here is an …
Brian Madigan’s “Material Facts” CHECKLIST (Use and Disclaimer)
I have taken steps to develop a “material facts checklist” for real estate agents to assist them in the listing process. First, it’s not comprehensive. Second, it’s a work in …
Brian Madigan’s “Material Facts” CHECKLIST Part 5
Here is one further section, on “Environmental Issues”. These will all require some sort of response from the seller/owner. The list of items is not exhaustive. Depending on the question, …