Question: If a sale closes and the dishwasher is missing from the kitchen, the buyer’s recourse is against the party with whom they had the contract, not the agent. This …
Furnace and Central Air: Chattels or Fixtures
Question: Should an owned furnace and central air conditioner into the deal? Do you list them as ‘chattels included’? Or do you just assume that if not listed as a …
Corporate Seal and Contract Seals in Ontario
In Ontario, it has not been necessary for Corporations to have Corporate Seals for about 30 years. However, most do. If the Corporate seal is used then it is not …
Leak Discovered after Closing
Question: One of the walls in the basement was covered by some kind of furniture and home inspector did not want to move anything (said something about getting hurt or …
Commission Change in 2022
OREA changed the terms of the long standing Listing Agreement by adding some words: OREA’s explanation is as follows: The COMMISSION Clause wording was revised to streamline the message for …
Counting the Conditional Days
Question: The confirmation of acceptance was signed on Thursday at 1:30pm. According to this clause…what would be the last day? This Offer is conditional upon the Buyer arranging satisfactory financing …
Real Estate Lawsuits and Contingency Fees
Lawyers often charge 15% to 35% fees computed on the total settlement of a client’s claim. This is the “if you don’t win, you don’t pay” advertisement that you see. …
Seller’s Options Following a Defaulted Transaction
Buyer requests an extension Question: Buyer can’t close on time (needs another month) and has given a $15,000 deposit with their original offer. They have exhausted all resources in every …
Extending the Closing Date with an Enforceable Term
Question: Looking for a good clause for a flexible closing date that is mutually acceptable to both buyer and seller? Both Buyer and Seller want to have the option of …
Buyer’s Options if Seller/Landlord Cannot Close
Question: The Seller enters into an agreement with a Buyer to convey the property which happens to be tenanted and provide “vacant possession”. The Tenant refuses to move and so …