(Ontario) Question: How do two agents at ABC Brokerage know that they both are in multiple representation on the same listing if they never saw one another? Answer: RECO takes …
Multiple Offers – New Fair Rules
Ontario Up until now, the rules have been fair for Sellers, but not particularly for Buyers. With some small changes we could probably level the playing field somewhat. Standard Offer …
Matrimonial Home Act Questions and Answers
(Ontario) Here are your questions with some responses: Q. Any property can be designated by both spouses as a matrimonial home by joint registration. A. No Q. All other matrimonial …
Family Law Act Issues with Matrimonial Home Designations (Ontario)
There are a few points to consider here: Only a property which is a matrimonial home may be designated as a matrimonial home, Most properties are not designated whatsoever by …
Inspection Clause and Contract Termination
Question: If a home inspection report reveals defects about the property can the buyer simply decide not to proceed? Answer: The law on this point was changed a few years …
Inspection and the Listing Agent’s Presence
Question: What happens if the Listing Agent wishes to attend the Buyer’s home inspection? Answer: There is no right to the exclusive use of the property during an inspection. If …
Improvident Use of the Keys Prior to Closing
There’s actually a small risk on closing that Buyers and their Agents just might not know about. Possession on closing is allowed at the time the transaction is completed, but …
Loss of Mental Capacity by Sellers
(Ontario) Question: You are the potential Listing Agent and both the husband and the wife (elderly couple) are concerned that the other partner is losing his/her faculties. Answer: Incapacity, incompetency, …
Local Improvement Rates in Ontario
Question: A few weeks after closing the Buyers client call their salesperson Joe and they are very upset. They have received a notice from the municipality that an additional $2,200 …
Liability for Referrals to Other Professionals
(Ontario) Question: Is there any liability imposed upon an agent for a referral? Answer: There are always issues when it comes to referrals. This is actually a professional responsibility under …