Issues with the Time of Completion

The closing date and time should be clear and concise and not pose any particular challenges. Let’s have a look at the standard Form OREA Agreement of Purchase and Sale …

Buyer’s Holdback for Scratches

Question: What happens if the Buyer threatens to holdback $20,000 from a $935,000 purchase claiming that there are scratches on the floor? These scratches existed before the showing, however he …

Requisitions in an Agreement

This particular paragraph is a little bit confusing so we’re going to have to pick it apart line by line. However, before we do, you have to understand that there …

Reducing the Buyers from 2 to 1

Question: I am acting for the Seller in a conditional deal with two Buyers: (1) Is it ok remove one Buyer via amendment while the offer is still conditional and …

Material Facts for a Buyer

By Brian Madigan LL.B. Real estate professionals are obligated to conduct their own due diligence when acting for a buyer. That is part of their “professional responsibility”. Here is an …

Seller’s Deposit Clause

Sometimes the deposit is just not paid. I know that it’s supposed to be paid. What happens if the purchaser doesn’t pay the deposit? Can the vendor get out of …