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 …

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 …

“As is, where is” Transactions

“As is, where is” is a term often used in real estate transactions. It signifies the condition in which a property is being sold, implying that the property is being …

“As Is” and “Where Is” Expansion

For those of you who are not quite sure what this means, here’s an expanded explanation in a commercial Offer: “Purchaser’s Acknowledgements 10 (a) “As Is” and “Where Is”: The …

“As Is, Where Is” Explained

“As is, where is” is a rather strange expression. I understand the “as is” part, that means the condition of the object of the agreement. It will not change before …

Schedule “B” Use

Schedule “B”s are used by Listing Brokerages to add some standard provisions to an Offer. Really, they should be restricted to interest upon the deposit which will be held by …