Question: Does the Listing Agent have to disclose the presence of Kitec plumbing on the listing? Answer: The basic principle is “Buyer Beware”, so that means everyone is out there …
Using a Common Survey Clause (Ontario)
Question: Consider the use of the following clause which is in common usage: “The Seller agrees to provide, at the Seller’s own expense, not later than 9 pm on the …
Buyer’s Remedy if Size of Bedroom Falls Short of Advertised
Question: It turns out that one of the bedrooms in a 2,500 sf house is short by 40 sf. It is 4 ft less in width over 10 feet. What …
The Expression “As Is” is without meaning in Ontario
Question: I am looking at a Listing that says the property “AS IS”. What exactly does that protect the seller from, if anything? Answer: The “as is” clause often added …
Brokerage’s Schedule “B” Deposit Clause favouring Sellers
Here’s a clause being used by some Listing Brokerages, as set out in their Schedule B’s: “Once this Agreement becomes unconditional, should the Buyer fail to complete this agreement on …
Appraisal Less than Purchase Price
Question: The Agreement of Purchase and Sale contains the following clause: “The Seller and the Listing Agent agree to co-operate in providing access to the property up until the closing …
Understanding the Delivery of Notices under the Agreement of Purchase and Sale
Sometimes, agents can run into difficulty giving or receiving proper Notice pursuant to one or more of the provisions contained in the standard Form Agreement of Purchase and Sale. This …
Title Search Date: When Should it Be?
Question: What date should be inserted into the Agreement of Purchase and Sale for the Title Search date? Answer: Buyer’s Interest From the perspective of the Buyer’s lawyer, you can …
Title Insurance: Is it Necessary?
Ontario Real Estate Source By Brian Madigan LL.B. That’s a good question. Prior to 1997, there was no commonly available title insurance in Ontario and yet it was the norm in the United …
“Agreement of Purchase and Sale” (Title)
The agreement between the parties concerning “title” to the property is in essence the “bargain” between the seller and the buyer. This is a matter of substance and not just …