(Ontario) Here is a swimming pool clause which many agents seem to be using: “The Buyer and Seller acknowledge that the swimming pool was not operational at the time of …
Interpretation of the Lawyer’s Approval Clause
This particular clause has always led to discussion. The application of the “good faith and honesty” doctrine from the Supreme Court of Canada in a recent BC case* sheds some …
Showings for Unrepresented Buyers
Question: I received a showing request from my listing. I called the fellow and asked if he was working with a realtor, to which he said no. I told him …
Offer Withdrawal Before Irrevocable Expiration
Questions: A party ( buyer) making an offer cannot withdraw that offer once it has been accepted by the other party (the seller) and the acceptance is communicated back to …
Getting Around “Good Faith” in Ontario
Question: The standard clauses for financing and inspection which say “absolute and unfettered discretion” are no longer the case. How do you get around that? Answer: There is no obligation …
Joint Tenancy Thwarts Bankruptcy in This Instance
Having property registered in joint tenancy actually worked quite favourably. A doctor acquired a matrimonial home and placed the title in his name together with his wife as joint tenants. …
Rules Related to Signing Representation Agreements in Ontario
Buyer Representation Agreements There are 4 steps to be followed. If a brokerage enters into a buyer representation agreement with a buyer and the agreement is not in writing, the …
Good Faith Contract Performance
Question: A buyer has an accepted offer, conditional on inspection. He’s happy with the inspection, only a few minor issues. He is considering walking away even though he loves the …
Fresh Copy or Use Initials from Illegible Copy
Question: Offer was sent back a few times and is barely readable due to scanning. If I were to redraft the contents of the offer on a new offer form, …
Original Agency Principles from Hammurabi’s Code
Hammurabi’s Code appears to have been published around 1754 BC in Mesopotamia. That was Babylonia in ancient times, now Bagdad in modern Iraq. It includes numerous references to barbarous acts, …