Question: I am the Listing Agent and I am hosting a multiple offer bidding war. One of the Buyer’s agents wants to throw in his commission to help his client …
Remedies for Leftover Junk on Closing (Ontario)
Question: We are now closing for our buyer client on a home sold “as is”. In the agreement we did not include any clause to the effect that the home …
Sales of Principal Residences Must be Reported (New 2016)
(Claim it or Lose it?) The federal government has proposed changes to both mortgage qualification rules and the reporting of the disposition of principal residences under the Income Tax Act. …
Notice of Fulfillment or Waiver (The “Debate”)
A question that seems to arise frequently is the use of the Waiver and the Notice of Fulfillment (NOF). When do you use one? And, when do you use the …
Execution of the Mutual Release in Real Estate Transactions
The issue presents itself with every failed transaction. Sign the Mutual Release, give the Buyer his deposit and move on. But, is that really the best idea? In a number …
Returning the Deposit in a Failed Transaction
What documents do you need? You are going to have to have some paperwork for the file. If the deal fell through and the deposit is to be returned to …
Reimbursement for Relocation Costs (Real Estate Commission)
The entire matter of reimbursement for the real estate commission falling under the heading of “relocation costs” is very topical. So, let’s have a look at it. Toronto Property with …
Refusing to Accept the Waiver (the Consequences)
It is a popular belief that in certain circumstances, only a Notice of Fulfilment (NOF) will do, and a Waiver is completely unacceptable. That’s true in part. The NOF is …
Real Estate Fees and Commissions (Lawyers and Agents)
The Competition Bureau has been dealing with real estate fees and commissions for over 40 years. A percentage charge (fee or commission) based upon price is what everyone would prefer. …
The Meaning of “Ratio Decidendi”
When it comes to the interpretation of any case, understanding the components of the decision will be necessary. However, we have to look at several components of a decision. The …