You wouldn’t really think that there would be any need for this, but, if you look at recent Discipline cases which came before the Real Estate Council of Ontario, you …
Protecting Your Commission in the Case of a Shortfall of Funds on Closing
Let’s assume that you are the buyer’s agent and you have been told that the property have been mortgaged to the hilt, the taxes are several years in arrears, and …
Price Allocation Among 4 Lots
Question: I’m selling a waterfront acreage that is split into 4 parcels. For financing purposes the buyer would like 4 separate offers with two of them being in the amount …
Prescriptive Easement for Right of Way (Ontario)
Prescriptive Easement for Right of Way (Ontario) Question: I am about to submit an Offer on a cottage property. Access requires travel over the properties of three adjacent owners. This …
Permission to Trespass – Not Allowed (RECO Discipline)
This is somewhat interesting. If you happen to be a Buyer’s agent and you are “running late”, just give your Buyers the lockbox code. That’s simple enough. They can just …
Am I Obligated to Respond within the Irrevocable Time? (Ontario)
Question: I am the Listing agent and have received an indication from a Buyer’s agent that my Seller will not accept. Am I “obligated” to Respond within the Irrevocable Time? …
Locker Description Presents Valuation Issues
Question: A locker was improperly described in a condominium complex. The Listing was wrong. The Agreement of Purchase and Sale was wrong. The Buyer’s agent (the purchaser’s own mother) didn’t …
Listing Expiration and the Holdover Commission Clause
Question: I acted for a Buyer who submitted an Offer on a property. The Seller refused to sell, and it’s now off the market. The Seller absolutely refuses to deal …
Listing Agent’s Duties When Confronted with a Defect
So, what does the Listing agent do when a defect shows up? This is something, of course, that they didn’t know about at the outset. It may have been concealed, …
Meaning of “Obiter Dicta” (Ontario Law)
The latin expression “obiter dicta” means “by the way”. It is a collateral remark made by a Judge in the reasons for judgment. It is a “side remark” or “comment”. …