Question: The Buyer removed all conditions with a Notice of Fulfillment (NOF). There were four conditions , three were due on 23 March, and one was due 29 March. By …
Commissions to be Paid ONLY upon Successful Completion
Question: My Seller client sent me a request upon review of the draft listing agreement. “Can we add a confirmation that if buyer backs out we are not on hook …
Self-Representation under TRESA
The 30 year role of a customer having lower status than a client and someone to who fiduciary duties are not owed will be gone under the new Act. Consumers …
Deposit Directions
There are naturally times when you don’t want to execute a mutual release but you are prepared to return the deposit. All you need is a Direction, and this is …
Deposit Timing and Delivery
Question: If an offer is accepted on a Friday and your buyers cannot get the deposit in until Monday, please address that in the offer!!! It says 24hrs, not when …
Condominium Conversions in Ontario
Condominium conversions present additional risks to purchasers since they are not covered under the Ontario New Home Warranties Plan Act. Under the Warranty, a purchaser’s deposits up to $ 20,000 are …
Deposits and the Mutual Release
Just the Direction Question: When it comes to releasing a deposit back to a buyer when a conditional deal doesn’t firm up (can’t fulfill Sale of Buyers’ Own Property, for …
Defect Disclosures
Question: I am a Listing agent and the property I am about to list has Kitec, vermiculite and a buried swimming pool. Do these have to be disclosed? Answer: Kitec …
Restrictive Covenants and Multiple Representation
There can be some unexpected responsibilities with multiple representation. Let’s go through an interesting situation. Bob Jones is a Listing agent, and he is selling Seller Sam’s property. Mary Brown …
Unpaid Water Bill: Added to theTaxes
Question: A Buyer client of mine from 2021 has just received a bill from the City telling them that they owe $4,700 for water that would’ve been billed to the …