The standard form OREA Agreement of Purchase and Sale is all about Schedules. Here’s what the 2021 version states on the first page: SCHEDULE(S) A………………………………………………………………………………attached hereto form(s) part of this …
Take the Money and Run: An Ethical Dilemma
Sometimes a real estate agent will have confidential information. The ethical question is whether or not they can disclose that information to their client. Well, it all depends, sometimes “yes” …
Rules for Attendance at Buyer’s Visits
A good friend and colleague of mine, Barry Lebow posed the following questions. It is interesting to see how different agents handle these various issues. Set out below are my …
Rental Items Clause in the Agreement of Purchase and Sale
The issue of Rental Items has now become quite important in an Agreement of Purchase and Sale. This is the Rental Clause in the standard form OREA Agreement of Purchase …
Registering an Offer in Ontario
Question: What does registering an Offer mean? Answer: This is a term which causes confusion. The difficulty in part arises by reason of the fact that there is no such …
Real Estate Auctions
There are some rules about this under the Conveyancing and Law of Property Act: “Auctions of estates when sale deemed without reserve 55 Unless in the particulars or conditions of sale …
Open Bidding: Let’s Hire a “Puffer”
The Liberals were elected federally and one of their platforms was a change to real estate transactions eliminating “blind bidding”. This means that every Buyer would know what the competing …
Payment of the Deposit and Selecting the Correct Clause
From time to time agents run into problems with the deposit clause in the standard Form OREA Agreement of Purchase and Sale. OREA Deposit Clause This is what it says …
Notice of Fulfillment and a Waiver
Do you perceive any particular difference in the meaning of these two documents? They are both used to firm up a deal. What about the central vacuum that didn’t work …
No Deductions From House Value for Notional Real Estate Commissions
Let’s assume that Bob and Wilma don’t get along. They have been married for 20 years and for the last 12 years have resided in their present home. Somebody has …