The Superior Court of Ontario released a decision dealing with the facts in a case where a Buyer defaulted on the purchase of a property, and the Seller resold at …
Peculiar Deposit Clause in Schedule “B”
From time to time, Brokerages will draft up their own, individual clauses, presumably for the benefit of the Seller clients and post them in their Schedule “B”. Naturally, it’s important …
Holdover Explanation: Is it Sufficient?
Here is the redlined explanation which is commonly distributed: “COMMISSION: The following section declares the total fee that the Seller has agreed to pay to the real estate company if …
Notices In the Agreement
Question: 3 . Multiple rep, the brokerage shall not be appointed or authorized to be agent by either the buyer or the seller dealing with the notices…….then there is Fax …
Disclosure of Material Facts
Ontario A real estate agent must investigate, determine and verify the material facts, and then disclose such facts to “their” clients and customers, not other people’s clients and customers, just …
Listing Agent: Pre-Listing Inspection Liability
(Ontario) Question: Is there any risk to a Listing Agent who suggests or recommends a Pre-Listing Home Inspection? Answer: The actual risk to the Listing Agent should they recommend a …
Anti- Merger Clause
When the deal is over, it’s finished. The contract has come to an end. It’s been completed and fulfilled. The “doctrine of merger” which is a legal concept applies, and …
Counting Days in Ontario
Counting the days in Ontario is a question that has come up before. It’s important to get it right, because otherwise the consequences could be disastrous. There are calendar days, …
Referral Fees and Finder’s Fees
(Ontario) Question: What are Referral fees and Finder’s fees? Answer: A referral fee paid between two brokerages is paid once the sale has closed and it is taken from the …
Court Rejects Ethical Agency Obligations for Real Estate Agents
The Ontario Court of Appeal considered the testimony of several real estate expert witnesses, all of whom indicated that the selling agent had fiduciary obligations to the vendor in a …