Deposit in the Agreement of Purchase and Sale

When Due? The standard Form OREA Agreement of Purchase and Sale makes the following reference to the Deposit: “DEPOSIT: Buyer submits …………………………………………………………………………………………………………………….(Herewith/Upon Acceptance/as otherwise described in this Agreement) ……………………………………………………………………….Dollars (CDN$) …

Precise Time of “Acceptance”

Let’s look at the timeline: Friday Saturday Sunday When was this Offer actually accepted? It was ACCEPTED when the written message either by letter (document), fax or email was sent. …

Conditions Start When?

Question: Conditions question. My buyer client had an Offer accepted last Thursday at 1:30 pm. It was irrevocable until 11:59 pm Thursday. Seller does not do e-signature and his out …

Customers Are Gone

There’s no such thing as “Customers” anymore. Customer Service under REBBA, 2002 continued until 30 March 2024, that’s assuming that you had such an arrangement in place prior to 1 …

Purchase Price: What could go Wrong!

The standard form Agreement of Purchase and Sale sets out the following: “PURCHASE PRICE:                                           Dollars (CDN$) ……………… ………………………………………………………………………………………………………. Dollars” That seems simple enough. What could possibly go wrong? The …

Name of the “Agreement”

You would actually think that this would be relatively straightforward, but, it isn’t. The first line in the Agreement of Purchase and Sale is as follows: “This Agreement of Purchase …

Property Description: Is it Right or Wrong?

When we look at an Agreement of Purchase and Sale, this is what it says about the property and the description of it: REAL PROPERTY: Address ……………………………………………………………………………………………………………………. fronting on the …

Who is Your Client?

You mean you don’t even know who your own client is? Many real estate agents simply don’t know. They don’t care, and they don’t bother to inquire. All of that …

Notices Reviewed: What, When, How?

There is a specific provision in the Agreement of Purchase and Sale for Notices. Here it is: 3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the …