It is a popular belief that in certain circumstances, only a Notice of Fulfilment (NOF) will do, and a Waiver is completely unacceptable. That’s true in part. The NOF is …
Protecting Your Commission in the Case of a Shortfall of Funds on Closing
Let’s assume that you are the buyer’s agent and you have been told that the property have been mortgaged to the hilt, the taxes are several years in arrears, and …
Am I Obligated to Respond within the Irrevocable Time? (Ontario)
Question: I am the Listing agent and have received an indication from a Buyer’s agent that my Seller will not accept. Am I “obligated” to Respond within the Irrevocable Time? …
Locker Description Presents Valuation Issues
Question: A locker was improperly described in a condominium complex. The Listing was wrong. The Agreement of Purchase and Sale was wrong. The Buyer’s agent (the purchaser’s own mother) didn’t …
Listing Expiration and the Holdover Commission Clause
Question: I acted for a Buyer who submitted an Offer on a property. The Seller refused to sell, and it’s now off the market. The Seller absolutely refuses to deal …
Listing Agent’s Duties When Confronted with a Defect
So, what does the Listing agent do when a defect shows up? This is something, of course, that they didn’t know about at the outset. It may have been concealed, …
No Explanation of Services – Agent Faces Penalties
This situation is a little different, but unfortunately, somewhat commonplace. Omar Shariff is a real estate agent working with ABC Brokerage. A condominium apartment was listed by Barney Noble of …
Liability For Consequential Losses
We are still looking at Drolet v ReMax Riverview Realty Ltd (2016). In this case, the plaintiff purchased a property which he believed to be a “buildable lot”. In fact, …
Legal Triplex Plus One “Additional Unit”
Question: A home is listed as a “legal non confirming triplex” with supporting documentation. The owner decided to add a 4th unit in the home to increase the rental income …
Lawyer’s Approval: Must be Exercised in “Good Faith”
Legal Terms or Business Terms? You will often see a clause in an Offer as follows: “subject to lawyer’s approval”. But, just exactly what does that mean? The answer, unfortunately …