Question: There are only a few ways that the deposit can be released from the real estate brokerages trust account, the mutual release being one of them. What if you …
Protecting Your Commission on the Buy Side in a Power of Sale
Question: How do I protect my commission? Everyone says that there’s just not enough money for the Bank, hydro taxes etc? Answer: Assuming this is a Big 5 Bank, they’ve …
Pre-Offer Home Inspection (Ontario)
Question: Assuming that you are the Listing agent, would you let a potential Buyer do a home inspection on your listing BEFORE submitting an offer? If so, why? Answer: I …
Pre-Listing Open House and the Buyer (what is the relationship?)
Question: I got a Buyer client from an Open House which I did prior to Listing to see if there was any interest. Now, I have a Buyer. What do …
Get the Deposit Paid even with an Uncertified Cheque
Payment of the deposit is a “key” component in most agreements. If it’s not paid at all, that’s a breach. If it’s not paid “in time”, that’s also a breach. …
Paid Too Much / Any Recourse?
Question: I had a property listed at $599,000 expecting multiples. A Buyer’s Agent who was aloof, reticent and condescending submitted an Offer at $690,000. I had made it quite clear …
OREA’s Position on Agency Changes
Agency Changes OREA has responded to the Ministry of Government and Consumer Services. You will recall the CBC Marketplace investigation and the unethical conduct by certain real estate registrants. Now, …
Seller’s Release from Prior Agreement Gives Too Much Power to the First Buyer
Sometimes, there is more than one way to deal with an issue. Let’s look at a situation where Buyer #2 wants to proceed with an Offer on a property. Looking …
Title Insurance Issues (Ontario)
Question: I acted for clients who purchased a property. I am assisting them with a title insurance claim. There were many open permits which they didn’t know about. Should the …
Seller’s Obligation to Disclose Defects in Ontario Transactions
The general rule of law in Ontario concerning the purchase of land is that of “caveat emptor”, or as translated from Latin “let the buyer beware.” At common law, this principle stood …