As strange as it may seem that’s exactly what one agent did. The Agreement was subject to a home inspection condition. The Listing Agent was going away, so the Buyer’s …
You are “Close”, very dangerous words in a Bidding War!
Right now, the Toronto market is “hot”. It was “hotter”, but we still have bidding wars. Consider the following situation: Buyer #1 Mary is interested in purchasing in a certain …
The Lost Deposit Cheque in Ontario
Question: Firm Buyer deal. I’m the Buyer’s agent. I drop off the bank draft deposit cheque to (and payable to) the listing brokerage and get a receipt. Over a week …
Possibility of a Verbal Agreement Being in Writing (Ontario)
Question: A deal was negotiated and accepted verbally. Paperwork signed by buyer and sent back for the confirmation of acceptance. Listing agent calls to say they got a better offer …
Estate Administration Issues in Ontario
Question: There are 3 daughters. Mom passes and leaves 2 of them as executors. Estate to be divided 3 ways. I receive the Listing. One of the executors now decides …
How to “Register” an Offer (Ontario)
Question: How do you register an Offer in Ontario? Answer: Registration of an Offer is not a defined term in the Act, the regulations or the rules. Having said that …
What Happens if the Seller Gets “cold feet”? (Ontario)
Question: What happens when the seller decides he doesn’t want to sell anymore. Offer accepted, all conditions met just closing in a few weeks and now seller doesn’t want to …
Inheriting a Principal Residence from a Parent
Question: I have a client who now owns a 2nd real estate property outright that is not his principal residence. It had been occupied and owned by his mother. Do the …
Defaulting Buyer and the Seller’s Options
Question: I am very suspicious that the Buyer won’t close. I am the Listing Agent and the Buyer’s Agent inquired about the possibility of a Mutual Release. Answer: This is …
Royal LePage Forecast for Toronto (GTA)
According to the predictions of Royal LePage we should see some increases in the Greater Toronto Area as follows” Overall, prices will increase in aggregate from $1,132,000 to $1,256,500. That’s …