Question: I sent an offer open until 8:00 pm tomorrow. The agent let me know we have a “verbal” sign back. Does that mean we can move on and make …
Deposit Proof for the Buyer
add a few dollars Question: I am still waiting for the Listing Brokerage to provide a deposit receipt? I am concerned about e-transfers, direct deposits and wire transfers. For some …
Damage Prior to Closing
Specific Performance Question: What happens if a property is damaged between the Agreement date and Closing? The damage is estimated to be over $100,000.00. The Seller is not cooperating …
The Amendment Can be a Very Risky Document to Use
Consider the situation where the Buyer includes a Home Inspection Condition and a Financing Condition. The deal is struck on Monday. Both conditions are due by 8:00 pm on Thursday. …
Insurance Company Inquiries (Ontario)
Question: What can we do to stop Insurance companies from relying on real estate agents for all of the information? I believe that they should be sending out adjusters to …
Keeping the Offers in play during Multiples
Question: Can someone ever retract an offer once submitted in multiples? The Agent called me once she was aware there was a second offer and retracted it. Can she do …
Enforcing the Buyer’s Representation Agreement when the Buyer Buys Direct from the Builder
This situation seems simple enough. The standard Form OREA Buyer Representation Agreement actually covers this. It’s included. The reason why it’s included, is that it’s “not excluded”. That’s how you …
Must a Seller have Insurance on the Property?
Home Insurance Question: Does a Seller have to have Insurance on the Property? Answer: No, Here’s the provision as set forth in the Standard Form OREA Agreement of Purchase and …
Tenants-in-Common – Who Signs Confirmation of Acceptance in Ontario?
Question: If two business associates who are tenants in common, accept an offer to sell their property, who signs the Confirmation of Acceptance, and when? Assuming they are not together …
Offer Withdrawal
How much flexibility does a buyer have in regards to withdrawing an Offer/counter Offer before it being accepted by the seller? This assumes that OREA Form 100 is used and …