In Toronto’s hot real estate market some people are looking for lots not buildings. But, there are no lots, just properties in decent locations with old buildings upon them. So, …
The Meaning of “Acceptance” in Real Estate Transactions
For some strange reason, the meaning of “acceptance” in real estate transactions is not well understood. Since you can’t have a contract without it, you would think that there would …
The Role of a Business Broker
By Brian Madigan LL.B. A business broker is regulated in Ontario under the same legislation that applies to real estate agents, namely the Real Estate and Business Brokers Act, 2002. …
Counter Offer Form ~ Amendments
There is a standard form Counter Offer form which has been drawn up for use in Ontario. There are some small issues which should be addressed if you propose to …
Confirmation of Acceptance is Troublesome
The current version of the standard form Agreement of Purchase and Sale by the Ontario Real Estate Association (OREA) includes a “Confirmation of Acceptance. This statement appears below the signature …
Confirmation of Execution has been Replaced
If you look back to the previous version of the OREA standard form Agreement of Purchase and Sale, you will find a Confirmation of Execution. It followed the signature line …
Can You Revive an Old Agreement?
The answer is “no”, but a lot of people don’t believe it. Let’s assume that Bob puts in an Offer to buy Bill’s property. The offer is accepted and contains …
Conditions and Escape Clauses
There is always a great deal of confusion and discussion concerning conditions and escape clauses contained in agreements relating to real estate. But, it is really rather straightforward and the …
Use of Counter Offers
The Counter Offer might be a helpful document. Remember that in the process of offers and counter offers, it is only the agent-to-agent communication which must be transmitted by fax …
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. …