Offer Solicitations

Sometimes agents are looking for a standard procedure associated with the handling of Offers. Here’s is a letter of invitation soliciting Offers and anticipating one round. Here’s an example: My …

Lawyer’s Approval Clauses

Question: I might be inclined to look at a Buyer’s condition drafted as a condition subsequent because it involves less paperwork. Answer: Here are two clauses They are slightly different …

What is RECO’s Real Role?

Sometimes, that’s not entirely clear. Lets have a look at a publication from RECO appearing on the RECO website. It appears in the public section of the website. It’s there …

Full Purchase Price Paid as a Deposit

Question: A property sells for $750,000.00 and the Buyer’s agent brings a deposit for $750,000.00 with the balance of the purchase price paid on closing. Are there any implications here, …

Inspection Condition and Leverage

Scenario: Seller accepts buyers offer which is conditional upon an inspection (with right to remedy clause). Buyer agent states to the Listing agent the condition is satisfied but would like …

Commission Risks on Power of Sale

Question: If I’m offered a Power of Sale listing that in my opinion will sell for less than the first and second mortgages combined, is there any way to ensure …