The Buyer and the Seller enter into an Agreement on 1 April to convey the property for $1,200,000.00 to the Buyer closing on 30 August. Later in the month of …
Rural Property Checklist
If you are a real estate agent and you are submitting an Offer on a Rural Property, there are a number of basic due diligence steps that you will have …
Waiver of Stacked Conditions
If you chose to include several conditions stacked in one clause, that clause might appear as follows: “This Offer is conditional upon: The next step is moving towards an “unconditional …
Anticipatory Breach
Anticipatory Breach: Explained In real estate, an anticipatory breach refers to a situation where one party to a contract communicates their intention to not fulfill their contractual obligations before the …
Anticipatory Breach Procedures
Question: I am representing the Seller and the Buyers conveyed through their realtor that they do not want to close. They are thinking that if the Seller sold for what …
Late Amendment
Question: There was an Old Agreement of Purchase and Sale. It came to an end and in one hour an Amendment arrived. Has it extended the Agreement? Can the Seller …
Stacked Conditions
Sometimes it’s easier to have stacked conditions rather than several conditions each of which is coming due on a different day and time. So, wrap everything into one condition and …
Using the Financing or Home Inspection Clause as an Out
Question: I act for the Seller, yet the Buyer’s agent thinks that the Financing Condition and the Home inspection condition provide them with a free “walkaway”. Is this true? Answer: …
Clause Survival
Septic system that works Question: I want to make sure that the septic works on closing. The Listing agent is striking out “survive and not merge”. I was always under …
Unassumed Rental Contract
Question: If a purchaser agrees to assume the hot water tank in the Agreement of Purchase and Sale, however no contract was provided or shared from the Seller, what is …