The Standard Form Agreement of Purchase and Sale contains an Acknowledgement section, following the signatures of the parties and the Confirmation of Acceptance section. Here’s what it says: ACKNOWLEDGEMENT I …
Septic System Liability Issues for Listing Agent (Ontario)
Question: I listed home with a septic tank on a double lot with severance potential. The Buyer’s agent presents a firm offer and the home sells and closes. I begin …
Septic and Water Warranties
Question: I am the Listing Agent and I have an Offer which contains very strong septic and water warranties. What can I do here? Answer: The Buyer is obviously looking …
When Do You Disclose the Accepted Price?
Question: If you are the Listing Agent and you got into multiple offers on presentation night; by the end of the presentations, the house was sold firm and you have …
Service Choices Alternatives and Avoiding Conflicts
Question: You have a listing, and you are approached by lots of buyers to represent them as the buyer agent, and it’s potentially a multiple offer situation. Do you offer: …
RECO’s Role
It seems curious that RECO feels that it must provide direct real estate advice to consumers, thereby “competing” with its own membership. Three other regulators, namely the Law Society of …
Seller’s Release from Prior Agreement Gives Too Much Power to the First Buyer
Sometimes, there is more than one way to deal with an issue. Let’s look at a situation where Buyer #2 wants to proceed with an Offer on a property. Looking …
Seller Commission Reduction
Question: A property is listed for sale and offers co-operating agents X.5% plus HST. The Co-Operating Brokerage submits and offer reflecting the X.5% The Listing Brokerage without any discussion or …
Disclosure of Former Grow-ops
Disclosure of Former Grow-Ops and RECO’s Press Release 25 March 2017 RECO outlines the fact that the Seller and the Listing Agent can collude together to conceal information which they …
RECO: Disclosure Former Grow-op
Does my salesperson have to tell potential buyers that my home is a former grow-op? RECO Press Release: March 25, 2017 “There are two separate issues to deal with when …