Question: For a variety of reasons we have a situation where the Seller needs to close on the house sale, so that they can purchase their smaller property. Neither have …
Initialling Changes on an Agreement of Purchase and Sale
As simple as it may seem, in practice, there is something of a difficulty when it comes to initialling changes to an Agreement of Purchase and Sale. Reasons There are …
Interpretation of Initials on Contracts and the Potential for Confusion
The standard form OREA Agreement of Purchase and Sale requires initials to be placed on every page for the purposes of acknowledgment except the actual signing page. The difficulty is …
Interesting SPIS Representation Clause
There is a clause that some Buyers representatives seek to include in an Agreement of Purchase and Sale. At first, it seems somewhat innocuous, but on further reading, should you …
Specific Performance as a Remedy in Ontario
Question: I am representing the buyers in a deal that is firm and set to close in a few weeks. The Listing Agent says her client wants to back out …
Roof Patched, Leaks and Late Discovery
Question: Buyers have noticed an active leak in the roof of an extension to the main building. They noticed the damage on the day they took possession, but thought it …
Seller’s Remedies Having Signed a Mutual Release
You can probably imagine that a Seller may be upset, sign a Mutual Release and then regret it afterwards. This would particularly be the case if the Seller felt that …
Seller’s Options with a Failed Deposit Cheque in a Conditional Deal
On occasion, Buyers’ agents are rushed and they just don’t get around to things. Fred was acting for Barney who wanted a house to renovate in the west end. He …
The Listing Agent and Buyer’s Letters
Question: If you are a Listing Agent, are you obligated to pass along a Buyer’s letter which supports their interest in the property? Answer: These letters are becoming quite common. …
HST Clause in the Agreement of Purchase and Sale
From time to time, the HST clause in the Agreement of Purchase and Sale is filled out incorrectly. This could prove to be a big mistake. This is the HST …