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 …

Schedule “A” Interpretation

The standard form agreement of purchase and sale in Ontario includes a standard four pages of fine print plus fill in the blanks, followed by a Schedule “A”. It is …

Ineffective Exclusionary Clauses

Most agreements of purchase and sale will contain an exclusionary clause. Do they work? First, let’s have a look at exactly what they say. Reproduced below is the relevant wording …

Clause: Credit in the Adjustments

Question Agent is trying to tell me this is one of their standard clauses and is for any issues with appliances or repairs. “The seller hereby agrees to give the …

Sale of Buyer’s Property Condition

Question: If you’re putting in an offer conditional on sale of your client’s home, do you include your client’s property address in the condition? Answer: You certainly should in order …

Initials All Over the Place

Question: It is my understanding that when you make a change e.g. price you strike out the price make an initial. Put in the new price. And the next person …

Seller’s Preferred Deposit Clause

If the deal doesn’t close, the Seller wants the deposit as soon as possible. Many agreements will have various references to getting the deposit if the buyer is in default. …