Seller’s Disclosure of Bids Question: Is it allowable for a Seller to disclose information about the bids? Assume that one of the bidders is a friend of the Seller. Can …
Can the Buyer Take Back Her Offer? (Part 2)
This is actually a question which arises all the time. Some people will say “yes” and others will say “no”. Let’s have a look at the sequence of an Offer. …
Can the Buyer Take Back Her Offer?
This is actually a question which arises all the time. Some people will say “yes” and others will say “no”. Let’s have a look at the sequence of an Offer. …
Buyer Renting Out the Seller’s Property
Question: Can the Buyer following an Agreement of Purchase and Sale advertise the address, use MLS photographs and bring prospective renters through on the “revisits”. Answer: There are several important …
Competitive Offers: Are you in Competition?
This seems straightforward, but really it’s not. The issue is set out in the Code of Ethics published under the Real Estate and Business Brokers Act, 2002. Reference is made, …
Bidding Wars – High Bidder and Property Appraisal Issues
There is a relatively new phenomenon involving the failure of a property to meet appraisals standards, following bidding wars. So, let’s look at a scenario. Bob puts his property on …
Agreement Date or Just an Offer Date?
There is a common misconception concerning the Agreement date. Sometimes, it’s actually just an Offer date. If there is an Agreement, it may indeed be sometime later. This runs the …
Adding or Substituting Parties to an Agreement
Agreements often start out with the wrong people involved, or not enough of the right people. For some reason, this issue seems to create some complications. How do you add …
Moving the Deposit from one Agreement to Another
Obviously, you are going to need a clause for this. I am assuming that you have a deal between the Seller and the Buyer with a deposit paid to the …
Waivers and Notices of Fulfillments
The Notice of Fulfillment was created specifically to firm up a transaction that included a True Condition Precedent like a property severance. You can’t really just waive this. You don’t …