Ontario Question: Property inherited or received as a gift is excluded under the property family concept. What will be happening if it is lived as a matrimonial home? Answer: Upon …
Coming Soon Signs
Ontario Question: Can you explain these “Coming Soon” signs I’m seeing all over the place? How does that work? Are the contracts post-dated, but the sellers allow the sign on …
Toronto and GTA Markets in February 2022
This is the recently released report of the Toronto Regional Real Estate Board concerning the February 2022 results: “March 3, 2022 – February home sales were down compared to the …
Lack of Property Insurance
(Ontario) Question: My clients are closing soon on their property and they have been inquiring about insurance and they are getting rejected. This is an old end row house. There …
Insurance Clause in Detail
INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance …
Irrevocable Clause: The Time Limit
(Ontario) Question: I understand the meaning of irrevocability in an offer however I’m a bit confused by this statement. “The offer can be revoked only before communication to the other …
Family Law Act Issues: Husband Moves Out and then Back
Question: Husband moves out of matrimonial home 3 years ago when home was worth $600,000. They do have a separation agreement from that time, but it doesn’t apparently cover this …
Undelivered Deposit Doesn’t Cancel the Deal
Question: I received an email from an agent who presented an unconditional offer for $20,000 over asking saying “My clients found another house they like better. Please withdraw their offer”. …
Multiple Representation and Referral
(Ontario) Question: If I sent a buyer referral (a Buyer Representation Agreement was signed previously) to a salesperson (different brokerage) in an area I don’t cover, they find a property …
Holding Back Offers Document in Ontario
Question: Form 244 on a Listing Says: “No Conveyance of Offers Until 5pm Monday, presentation at 8pm” To me it means do not tell me you have and offer, do …