Question: [Warranty Clause question] Purchaser’s lawyer wants to change a warranty clause to the following: “The Seller represents and warrants that, to the best of the Seller’s knowledge, the premises …
Renter is a RECO Registrant: No Loss of Rights
(Ontario) Question: I have clients who bought a rented condo 2 years ago, we did not know that the seller’s real estate agent was the renter. The agent never disclosed …
Back Dating the Buyer’s Representation Agreement
(Ontario) Question: Can a BRA be back dated? For example, you date a Buyer Representation Agreement (BRA) as of Saturday. You then meet the clients and go over it. They …
Acceptance: The Exact Timing
Certainly, everyone wants to know that their Offer has been accepted, otherwise, there’s no contract. Signed, Sealed and DELIVERED It’s the delivered part which is the actual acceptance. So, when …
Relisting and Resale
(Ontario) Question: Can an agent relist a property on MLS without a signed mutual release for a previous deal? We were one day late with the deposit. Answer: If you …
Rate of Return on Real Estate
What is the rate of return on real estate? Basically: 5% per annum! And, that’s measured over long periods of time. Sometimes, it’s less and sometimes it’s more, but over …
Owner filled swimming pool. Didn’t disclose!
Material Latent Defect? Question: An owner purchased a house with swimming pool. He decided he doesn’t want the pool. He hires a few guys to fill in the pool and …
Joint Tenancy Creation and Termination Explained
Joint tenancy is a rather old common law method of property ownership. Essentially, it includes the right of survivorship as one of its provisions. The basic arrangement would be tenancy …
No Delivering or Receiving Notices in Multiple Representation
Question: “When brokerage represents both the Seller and the Buyer (multiple representation) the brokerage is not entitled or authorized to be an agent for either the Buyer or the Seller …
Deposit Must Be Credited
This is an issue that arises from time to time. If you are already in the Court of Appeal, you might as well raise it, but on occasion a lower …