Sometimes, there is more than one way to deal with an issue. Let’s look at a situation where Buyer #2 wants to proceed with an Offer on a property. Looking …
Seller Commission Reduction
Question: A property is listed for sale and offers co-operating agents X.5% plus HST. The Co-Operating Brokerage submits and offer reflecting the X.5% The Listing Brokerage without any discussion or …
Disclosure of Former Grow-ops
Disclosure of Former Grow-Ops and RECO’s Press Release 25 March 2017 RECO outlines the fact that the Seller and the Listing Agent can collude together to conceal information which they …
RECO: Disclosure Former Grow-op
Does my salesperson have to tell potential buyers that my home is a former grow-op? RECO Press Release: March 25, 2017 “There are two separate issues to deal with when …
Written direction for multiple offers
February 21, 2017 Bulletin #2017-1 Overview The purpose of this Registrar’s Bulletin is to explain and clarify the requirement of you, as registrants, to convey an offer to your clients …
Legal Liability Risks for Teams
Recently, there has a been a movement in the real estate industry to creating “teams”. A strong agent will have more work than they can handle personally and if they …
Disclosure of Relatives to Other Party in the Deal
Question: Scenario: commercial property acquisition and you are representing the buyer. Seller agent does not disclose she is related to the seller until after the sign back. Conversations between agents …
Water Presence Discovered After Agreement Before Closing
Considerations Question: Buyer does inspection before submitting offer. No problems come up and he buys the house firm. He goes for a revisit and notices a big puddle of water …
Lawyer’s Approval Clauses
Business Terms and Legal Terms Question: I might be inclined to look at a Buyer’s condition drafted as a condition subsequent because it involves less paperwork. Answer: Here are two …
Is the Acknowledgement or the Confirmation of Acceptance “THE” Acceptance?
Question: Sellers sign back offer, buyers accepts within irrevocable period signing the confirmation of acceptance. Now the sellers are refusing to sign the Acknowledgment as they have decided that they …