Within the last few years it has become increasingly common for realtors to place warnings within the terms of the agreement of purchase and sale. Precedents for such clauses abound, …
Unpaid Deposits and the Contract
What happens if the purchaser doesn’t pay the deposit? Can the vendor get out of the deal? Can the vendor simply sell the property to someone else? The Courts look …
Throw More Money into the Deal, But Not as a Deposit
Throw More Money into the Deal, But Not as a Deposit Question: I am acting for a Buyer, and I would like to demonstrate some additional good faith and hopefully …
Irrevocable Clause ~ Improper Use
The irrevocable clause in an agreement of purchase and sale is simply the time limit imposed upon the other party to respond. The major criticisms of realtors concerning the use …
Seller: Accept, Reject or Counter Offer
Most people seem to know that a Seller upon the presentation of an Offer, may: 1) accept the Offer,2) reject the Offer, or3) counter the Offer. Actually, when it comes …
Real Estate for Entrepreneurs
One of the best opportunities for investment is owning your own building. This is a great advantage for small business entrepreneurs. If you have a location for your business that …
Swimming Pools
Swimming pools can add a lot of fun to your backyard, but when it comes to either buying or selling, there are certain issues that have to be considered. Generally, …
Phantom Offers
The real question is: does the phantom offer really exist! Maybe, and maybe not. A phantom offer, of course, is an offer which is make-believe, it’s imaginary, it’s simply pure …
Fire Department and Other Municipal Searches
Question: Does the Seller have to agree to fire department and other related municipal searches? Answer: Yes, they do, in they signed the standard Form OREA Agreement of Purchase and …
Conditional on the First Deal
This is a clause under consideration for review: “This offer is conditional on the failure of the existing, conditional Agreement of Purchase and Sale related to the subject property. The …