Let’s suppose that Bob the Buyer is very interested in purchasing a house in a certain area. Bob contacts Fred who is an agent working that targeted area. Fred doesn’t …
Amendments and Changes to an Offer
(Ontario) Question: With a conditional offer in which the conditions are about to come off, what is the correct form (with Notice of Fulfillment) to change the date and add …
BUYERS’ REP AGREEMENTS
Question: I showed at least 20 properties and made 3 offers on properties with a Client under a BRA. They purchased a property through another agent (listing agent) the week …
Cooperating Brokerage Sues Seller Directly For Commission
Is this even possible? In this situation, the Cooperating Brokerage was not paid its commission in full as provided in the MLS Listing. So, the Brokerage sued the Seller/Owner directly. …
Amending Agreements, Satisfying Conditions, Waiving Provisions
There are two methods to handle these matters: Long form, Short form. Long Form Method Let’s assume that you have a Condition included in an Agreement which reads as follows: …
Time for Executing the Amendment
This is a frequent question. Time and time again, agents inquire about executing an Amendment to an Agreement “after the fact”. So, “no” you can’t revive the old contract. What …
Final Walkthrough
This presents problems whenever a Buyer might run into an uncooperative Seller, Listing agent or Seller’s solicitor. Only the Buyer can go through, not anyone else. It is realtively short …
Fundamental Difference (A very good reason for not closing)
There are essentially three justifications for not proceeding with a real estate transaction. Here’s a famous quotation about caveat emptor in Fraser-Reid (1980 SCC). “…..Notwithstanding new methods of house merchandising …
Structuring the Commission Reduction
(Ontario) Question: An agent I am working with is reducing her commission to make the deal work. The Confirmation of Cooperation and Representation (CCR) that outlines the full amount so …
Stacked Deals: Why Pay for Both?
The Buyer runs into a little bit of difficulty and cannot close on the purchase. That’s fine, the market tumbled unexpectedly and they ran into difficulty. It’s reasonable to pay …