Question: I have come across the following: 1) Representation………could be the basis for rescinding the agreement. 2) A breach of warranty ………does not permit the buyer to rescind the contract. If …
What Kind of Days Should I be Using?
calendar, business, banking “Calendar days” is the preferred choice. If you just say “days”, that’s enough. Everyone knows what that means. Business days under REBBA only apply to regulatory matters …
Death of Seller or Buyer in Ontario
Question: If a seller signs a listing agreement with a brokerage, but dies before any offers have occurred, is the contract binding on the heirs of the seller to continue offering …
Order of Clauses in an Agreement (Ontario)
Question: Is there a specific order for the clauses in Schedule A to appear. Answer: The usual order would be: Payments Additional deposits Seller Take Back Mortgage Balance Due Conditions …
Executing an Agreement using a Power of Attorney in Ontario
Question: How should someone sign who holds a Power of Attorney? Answer: Remember that a POA is a piece of paper, and the person to whom authority was granted is …
Vacant Possession: What does it mean?
Even after you read this, you still may not know. With thousands of years of common law history, this is still a matter which is subject to judicial interpretation. There …
Financing Condition: and Two Agents for Same Client
Question: My Buyers have an accepted offer on their home conditional on acceptable financing. I am not the Listing Agent. Their Buyer is coming through with his contractor to determine …
Insurance Clause in Detail
INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance …
Irrevocable Clause: The Time Limit
(Ontario) Question: I understand the meaning of irrevocability in an offer however I’m a bit confused by this statement. “The offer can be revoked only before communication to the other …
Undelivered Deposit Doesn’t Cancel the Deal
Question: I received an email from an agent who presented an unconditional offer for $20,000 over asking saying “My clients found another house they like better. Please withdraw their offer”. …