A question that seems to arise frequently is the use of the Waiver and the Notice of Fulfillment (NOF). When do you use one? And, when do you use the …
Execution of the Mutual Release in Real Estate Transactions
The issue presents itself with every failed transaction. Sign the Mutual Release, give the Buyer his deposit and move on. But, is that really the best idea? In a number …
Returning the Deposit in a Failed Transaction
What documents do you need? You are going to have to have some paperwork for the file. If the deal fell through and the deposit is to be returned to …
Refusing to Accept the Waiver (the Consequences)
It is a popular belief that in certain circumstances, only a Notice of Fulfilment (NOF) will do, and a Waiver is completely unacceptable. That’s true in part. The NOF is …
Price Allocation Among 4 Lots
Question: I’m selling a waterfront acreage that is split into 4 parcels. For financing purposes the buyer would like 4 separate offers with two of them being in the amount …
Locker Description Presents Valuation Issues
Question: A locker was improperly described in a condominium complex. The Listing was wrong. The Agreement of Purchase and Sale was wrong. The Buyer’s agent (the purchaser’s own mother) didn’t …
Right of Inspection Prior to Closing
The Ontario case that is quoted frequently is the 1979 case of Harkness v. Cooney. After it was pronounced most lawyers accepted the fact that there was a common law …
Liability For Consequential Losses
We are still looking at Drolet v ReMax Riverview Realty Ltd (2016). In this case, the plaintiff purchased a property which he believed to be a “buildable lot”. In fact, …
Legal Grow House Disclosure (Ontario)
Question As a Listing Agent, the house and owner were granted a Commercial Marihuana Grow Op license for 100 plants. When owner moves, license does not stay with the property. …
Is a Deposit a Requirement for a Valid Contract?
Question: Is a Deposit a Requirement for a Valid Contract? Answer: A valid contract in Ontario requires either: 1) consideration, or 2) a seal. All standard form OREA contracts are …