Question: I am acting for an Estate concerning the sale of a property. The individual passed away due to natural causes. Does this need to be disclosed, and what if …
Deposit Receipt for the Buyer
Question: What is the rule for how quickly a brokerage has to provide a deposit receipt? I am concerned about e-transfers, direct deposits and wire transfers. Since the days of …
Holdover Provision in Listing Agreements (Ontario)
Question: Just how does the “holdover provision” work? Answer: Let’s have a look at the actual provision: “The Seller further agrees to pay such commission as calculated above if an …
Can you just Walk Away from a Conditional Deal in Ontario?
Not anymore! Let’s assume that a Buyer submits an Offer conditional upon: Financing, and Home Inspection. In both conditions, the clauses say “satisfactory to the Buyer in the Buyer’s sole …
Knob and Tube Found 8 Years after Closing (Ontario)
Question: A Seller just discovered following the Buyer’s Home Inspection that the property is filled with knob and tube wiring. This was supposed to have been removed by the original …
Tax Treatment of Investment Properties (Ontario)
Question: I have a client who bought an investment property 30 years ago. It’s always been rented out. It’s a second property for them. 1. If sold, what do they …
What About Bridge Financing?
Buyer Default – Consider Bridge Financing Using this a source, it’s either unsecured or secured. Unsecured is Best The Bank will provide the bridge financing that you need. If you …
Double ending your listing (Clients or Customers) Ontario
Question: Do you sign the new buyers up as clients or customers? Answer: “Customers” is a difficult concept to explain. Most of the time the consumer cannot explain it back …
Agents’ Duties Following Pre-Offer Inspection (Ontario
Question: What is the Buyer’s Agent’s disclosure responsibility if they find something major during the home inspection? I thought the Listing Agent has to disclose to future buyers if one …
Another Schedule “B” waiving Rights (even worse)
Question: I just came across this clause in a Schedule “B” inserted by the Listing Agent. What do you think? “THE PARTIES HEREIN ACKNOWLEDGE, COVENANT AND AGREE that should any …