It is somewhat interesting that the standard Form OREA Agreement of Purchase and Sale makes several references to “time”. There is a clause that states: 20. TIME LIMITS: Time shall …
The Agreement is About Schedules
The standard form OREA Agreement of Purchase and Sale is all about Schedules. Here’s what the 2021 version states on the first page: SCHEDULE(S) A………………………………………………………………………………attached hereto form(s) part of this …
Should You Get a Survey?
A very substantial error occurred in a real estate transaction. The purchaser was interested in buying a cottage property. As it turned out, the building which she thought she was …
Rental Items Clause in the Agreement of Purchase and Sale
The issue of Rental Items has now become quite important in an Agreement of Purchase and Sale. This is the Rental Clause in the standard form OREA Agreement of Purchase …
Payment of the Deposit and Selecting the Correct Clause
From time to time agents run into problems with the deposit clause in the standard Form OREA Agreement of Purchase and Sale. OREA Deposit Clause This is what it says …
Notice of Fulfillment and a Waiver
Do you perceive any particular difference in the meaning of these two documents? They are both used to firm up a deal. What about the central vacuum that didn’t work …
Time and Time Zones
Question: I am buying a property in Kitchener, Ontario but I am in Calgary Alberta. How do I deal with the “time”? Answer: The Agreement of Purchase and Sale already …
Lawyer’s Approval: What Clause to Use?
You have already decided to include in an Offer “subject to lawyer’s approval”, but what particular clause do you want? Case law seems to suggest that in Ontario, a general clause …
Issues with the Time of Completion
The closing date and time should be clear and concise and not pose any particular challenges. Let’s have a look at the standard Form OREA Agreement of Purchase and Sale …
Estate Sale: Closing Extension Clause
Estate Sale: Closing Extension Clause DELAYED PROBATE Here is a clause provided by a listing agent to be included in the Agreement of Purchase and Sale: “The Buyer and Seller …