Question: What about the following clause in Schedule “B” from the Listing Brokerage (not so much from the grammatical correctness standpoint). I am representing the Buyer. “This Offer is subject …
Ten Days: When’s it Due? (2)
Banking Days Question: If an Offer was accepted on March 28th (2024) at 11:50 pm with 10 days for status certificate delivery, when would the listing agent have to supply …
Ten Days: When’s it Due?
Question: If an Offer was accepted on March 28th (2024) at 11:50pm with 10 days for status certificate delivery, when would the listing agent have to supply the status certificate? …
Deposit Holder and Interest
Have a look at the Deposit clause in the standard Form Agreement of Purchase and Sale: “………….by negotiable cheque payable to ……………………………………………………………………………………………………………. “Deposit Holder” to be held in trust pending …
Deposit in the Agreement of Purchase and Sale
When Due? The standard Form OREA Agreement of Purchase and Sale makes the following reference to the Deposit: “DEPOSIT: Buyer submits …………………………………………………………………………………………………………………….(Herewith/Upon Acceptance/as otherwise described in this Agreement) ……………………………………………………………………….Dollars (CDN$) …
Precise Time of “Acceptance”
Let’s look at the timeline: Friday Saturday Sunday When was this Offer actually accepted? It was ACCEPTED when the written message either by letter (document), fax or email was sent. …
Conditions Start When?
Question: Conditions question. My buyer client had an Offer accepted last Thursday at 1:30 pm. It was irrevocable until 11:59 pm Thursday. Seller does not do e-signature and his out …
Purchase Price: What could go Wrong!
The standard form Agreement of Purchase and Sale sets out the following: “PURCHASE PRICE: Dollars (CDN$) ……………… ………………………………………………………………………………………………………. Dollars” That seems simple enough. What could possibly go wrong? The …
Name of the “Agreement”
You would actually think that this would be relatively straightforward, but, it isn’t. The first line in the Agreement of Purchase and Sale is as follows: “This Agreement of Purchase …
Property Description: Is it Right or Wrong?
When we look at an Agreement of Purchase and Sale, this is what it says about the property and the description of it: REAL PROPERTY: Address ……………………………………………………………………………………………………………………. fronting on the …