Question: The confirmation of acceptance was signed on Thursday at 1:30pm. According to this clause…what would be the last day? This Offer is conditional upon the Buyer arranging satisfactory financing …
Real Estate Lawsuits and Contingency Fees
Lawyers often charge 15% to 35% fees computed on the total settlement of a client’s claim. This is the “if you don’t win, you don’t pay” advertisement that you see. …
Seller’s Options Following a Defaulted Transaction
Buyer requests an extension Question: Buyer can’t close on time (needs another month) and has given a $15,000 deposit with their original offer. They have exhausted all resources in every …
Extending the Closing Date with an Enforceable Term
Question: Looking for a good clause for a flexible closing date that is mutually acceptable to both buyer and seller? Both Buyer and Seller want to have the option of …
Buyer’s Options if Seller/Landlord Cannot Close
Question: The Seller enters into an agreement with a Buyer to convey the property which happens to be tenanted and provide “vacant possession”. The Tenant refuses to move and so …
Referral Fees Reconsidered
How would you respond to this? Old high school friend (haven’t seen him since grad 92!) asks for a referral to another area. I set him up. He interviews other …
Merger of Titles in Ontario
Question: I understand that if someone purchases adjoining’ land/properties … that the 2 merge “as one” and would eventually need to be severed before any parcel can be sold. My …
Is Commission Owed on an Agreement which doesn’t Close?
To answer this question we’ll have to look at the Listing Agreement. Here’s what it says: Part 1 “In consideration of the Listing Brokerage listing the Property, the Seller agrees …
Countering an Offer is also a Rejection
Question: You receive an offer for your Sellers. They want to sign it back just a little bit higher, but are afraid of losing the offer. We’ve had the conversation …
Construction Industry – Fair Bidding System (Documents)
Owner / Architect The Owner employs an Architect to come up with plans to construct a building. Once satisfied with the final revisions, the project will “go out to tender”. …