Previously, in the Confirmation of Cooperation and Representation (CCR) it was last minute after everything had already gone wrong. Now, we have two new documents, the full explanation and informed …
Multiple Representation: New Forms
Question: Forms 325 and 326. At what point are you getting these forms signed? Answer: Finally, we have some real appreciation of the conflicts that arise with Multiple Representation. Previously, …
Buyer: Notice of Revocation
With the new TRESA legislation, we now have lots of new Forms. Here’s Form 108 Notice of Revocation: “Pursuant to the following term of the Agreement of Purchase and Sale …
Buyer and Offer Transparency
The new TRESA legislation permits Offer contents to be shared in whole or in part. Assuming that the Buyer is not pleased with this disclosure of their Offer contents, then …
Confirmation of Acceptance: Improperly Completed
COA incorrect It’s important to make sure that the Confirmation of Acceptance (COA) is properly completed. Here’s an interesting scenario. Bob the Buyer submits an Offer which is open until …
Amendment: Meaning when it’s not Used Properly
Buyer has an accepted offer conditional on the following 3 conditions: 1) Inspection, 2) Mortgage Financing, and 3) Environmental Assessment. With the first 2 conditions the Buyer submits an amendment …
Time is of the Essence
The Ontario Court of Appeal just released a decision on 3 January 2024 dealing with the late payment of the funds on closing. Payment was due at 3:00 pm. At …
Clocks Turn: When’s the Deposit Due?
The clocks were all set back one hour on 5 November 2023. This is a time when many real estate agents want to get their message out to the public: …
Appliances: Precautions
It is always a good thing for the Buyer’s agent to note the particular appliances by: This way you will know the date of manufacture, whether it is still under …
Pursue Various Avenues for Financing
Question: Can a Mutual Release be sent before the deposit cheque is given in? Offer is conditional on mortgage financing. This is the day after acceptance and deposit cheque is …