In order to properly understand the concept of dual agency it is necessary to view it from an historical perspective. In the 60’s, 70’s and 80’s all agents represented the …
Non-Resident Speculation Tax
Effective March 30, 2022, the Non-Resident Speculation Tax (NRST) rate was increased to 20 per cent and expanded to apply throughout the Province. The NRST may apply on the purchase or acquisition …
Fire Damage: Buyer’s Options
What happens if the house burns down before closing? Obviously, this leaves both the seller and the buyer in a quandary in terms of completion. So, assuming that there has …
Unpaid Deposits and the Contract
What happens if the purchaser doesn’t pay the deposit? Can the vendor get out of the deal? Can the vendor simply sell the property to someone else? The Courts look …
Real Estate with an Upside
This is the best real estate to buy. You want to acquire something with a positive upside, that is simply not just generally increasing with the market. Consider a property …
Designated Agency: A Short Reprieve for Double-Dipping
Under discussion at the moment is the matter of designated agency. It is being suggested as a possible solution to some current agency problems. Before we look at it designated …
Throw More Money into the Deal, But Not as a Deposit
Throw More Money into the Deal, But Not as a Deposit Question: I am acting for a Buyer, and I would like to demonstrate some additional good faith and hopefully …
Lawyers Who Kill Real Estate Deals!
Just as there are bad realtors, there are also bad lawyers who do kill deals Here, I’m really talking about the naïve, inexperienced lawyer armed with a voluminous list of …
Irrevocable Clause ~ Improper Use
The irrevocable clause in an agreement of purchase and sale is simply the time limit imposed upon the other party to respond. The major criticisms of realtors concerning the use …
Seller: Accept, Reject or Counter Offer
Most people seem to know that a Seller upon the presentation of an Offer, may: 1) accept the Offer,2) reject the Offer, or3) counter the Offer. Actually, when it comes …