Ontario? Question: What about adding a bonus to buyer’s Agent’s commission….does it work? I have a high end property that I would like to see more activity on and have …
The Sudden Appearance of the Competing Offer
Question: Property is listed for 22 days, second showing today and clients decide to put in an offer, 2 hours after offer submission suddenly there is another competing offer! This …
Warranties: Issues and Restrictions on Closing
There are several issues which arise when it comes to Warranties. What is the nature of the Warranty? Will the Warranty Survive Closing? What is the Remedy for Breach? How …
Title Insurance: Who Buys?
(Ontario) Question: Clause 10 in the standard Form OREA Agreement of Purchase and Sale states… “which seller is unable or unwilling to remove, remedy or satisfy or obtain insurance… (Title …
The Basic Law about Deposits in Ontario
Although the issue comes up from time to time, the leading case on the subject of deposits is De Palma v Runnymede (1949) in the Ontario Court of Appeal. The …
Terminology: “Sellers and Vendors”
(Ontario) The expressions “Vendors” and “Purchasers” in respect to the sale of real property have been used for centuries. In Ontario there were 3 sources of standard form agreements in …
Condominiums Must Issue Correct Status Certificates
While this may seem obvious, what happens if the Same Condominium had previously issue two incorrect Status Certificates? The Ontario Court of Appeal looked at the case of DBDC Spadina …
Suicide Stigma and Non-disclosure
(Ontario) Question: Seller’s father was the sole owner and committed suicide inside the home. The daughter hired a Realtor from a different part of the city and did not disclose …
Size Discrepancy in Square Footage – Remedies
(Ontario) Question: A new Client of mine purchased a home and closed just under 4 years ago. The listing when they purchased the home overstated the square footage by just …
Buyer Defaults, but Seller is Cautious
The Buyer is about to default on the deal. The Seller will let them out of the deal and give them their deposit back as long as deal #2 closes …