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 …
Easements Created by Necessary Inference (Implication)
There are not a lot of these around, but they do arise on occasion. When? When the property increases in value, that’s when! This is a case that took place …
Does a Proposed Amendment Allow the Seller to Accept other Offers?
This is an interesting question. First, without the Buyer doing anything, the Seller can always entertain and accept a “back-up Offer”. So, this one is only a “go” if the …
Documenting a Co-operating Commission Increase
Question: I am a Listing Agent. The Listing is at 4.0% with 2.0% being offered to the Co-operating Brokerage. The Buyer’s agent wants his side increased from 2.0% to 2.5%. …
Do Any Rights Arise from Long Term Use?
Question: The Owner of a property has been sharing the neighbour’s well since the 1970’s. The property is now to be sold. There is no “agreement” in writing. The neighbour …
Discovery of Defect Just Before Closing
What happens if a defect of some kind is discovered right before closing? This could easily take place on the Buyer’s final walkthrough. At this point, the Seller has moved …
Toronto and GTA Markets in October 2021
This is the recently released report of the Toronto Regional Real Estate Board concerning the August 2021 results: “November 3, 2021 – Home sales in the Greater Toronto Area (GTA) …
Deal Closed Roof Completed in 2014 or 2019 (Ontario)
Question: I bought a house last year. The Flyer and the MLS both stated that the roof was “done” in 2019. I was up in the attic and found an …
Customers in Nova Scotia Real Estate
In the Province of Nova Scotia, customers are just like Ontario. This is the explanation on the website of The Nova Scotia Real Estate Commission: CUSTOMER RELATIONSHIP A buyer or …
Creating the Revocable Offer
Working Twice as hard on Bidding War Night From time to time, particularly in heated real estate markets it may be wise to draft a revocable Offer, that is, one …