Here are two further sections, one on liens, charges and encumbrances and the next on property use, boundaries and limits. These will all require some sort of response from the …
Brian Madigan’s “Material Facts” Disclosure CHECKLIST
It is important in a real estate transaction to be armed with the facts. Material facts are those facts which will be important to a person buying or selling real …
RECO Discipline: Sewage Sytems Disclosure
William Holden is a friend of Bernie Johnson an elderly and unsophisticated owner of a waterfront property. Holden takes the listing and takes a few liberties with the facts. He …
RECO Discipline: Grow House Disclosure
So, what are the rules related to grow houses? Does the agent have to disclose them? What about the advertising and the listing? 1. At all relevant times Wilma Jones …
Supreme Court of Canada endorses Good Faith and Honesty
The Supreme Court of Canada changed every contract in Canada. Now, all contracts include: 1) an obligation of good faith contractual performance, and2) a duty to act honestly in the …
Cancellation of the Listing ~ Is it Over?
Maybe not! You negotiated and signed a Cancellation with your first agent. Now, you are about to enter into a new listing with your second agent. Might you still owe …
Agent Fails to check Renovations Carried out With Permits
This a brief summary of a RECO Discipline case. SUMMARY OF AGREEMENTS It is agreed that Fred Flintstone acted unprofessionally when he: 1. Failed to take reasonable steps to verify …
Initialling Changes on an Agreement of Purchase and Sale
As simple as it may seem, in practice, there is something of a difficulty when it comes to initialling changes to an Agreement of Purchase and Sale. Reasons There are …
Interpretation of Initials on Contracts and the Potential for Confusion
The standard form OREA Agreement of Purchase and Sale requires initials to be placed on every page for the purposes of acknowledgment except the actual signing page. The difficulty is …
Interesting SPIS Representation Clause
There is a clause that some Buyers representatives seek to include in an Agreement of Purchase and Sale. At first, it seems somewhat innocuous, but on further reading, should you …