When the Seller is involved in an Estate Sale, sometimes they require some additional time to arrange Court approval. Consider this clause The Buyer and Seller agree that the Seller, …
Seller’s Liability for Providing Faulty Inspection Report
I have a question for you more seasoned agents. My buyer purchased a home which already had an inspection done by a previous deal that did not go through. We …
Schedule “B” Missteps (Upon Acceptance)
Schedule B is an extra schedule of terms and provisions included in an Agreement of Purchase and Sale by a Listing Brokerage. It’s not mandatory. A Listing Brokerage will often …
Schedule “B” Missteps #3
Let’s have a look at this clause: “In the event the Financing Condition is not fulfilled or waived by the Buyers, the Buyers agree to provide a document signed by …
Schedule “B” Missteps #2
Let’s have a look at this clause: “In the event that any condition in this offer is not fulfilled or waived by the Buyers, the Buyers agree to provide the …
Merger of Executory Contracts
Doctrine of Merger Let’s say you are about to buy a farm! It doesn’t all happen at once. First, you submit an Offer; that results in an Agreement. Second, the …
Reasons For Buyers to Deal Directly with the Listing Agent
They aren’t all crazy! The conventional wisdom is that the buyer needs to be properly protected in a real estate deal and have their own agent on their side. Anything …
Problems with Alignment During Construction
Question: Client loves a home that is under construction. The home is vacant and half finished. During our due diligence it turns out that the addition on the back of …
Privity: Contract and Estate
Privity of Contract This is the precise relationship between two parties to a contract. They each have rights to sue one another because they have “privity of contract” An independent …
Preference for Warranty Clauses
Consider the following type of clause: “The Seller represents and warrants to the best of his knowledge and belief that the swimming pool and equipment are now, and on the …