There is a relatively new phenomenon involving the failure of a property to meet appraisals standards, following bidding wars. So, let’s look at a scenario. Bob puts his property on …
Adding or Substituting Parties to an Agreement
Agreements often start out with the wrong people involved, or not enough of the right people. For some reason, this issue seems to create some complications. How do you add …
Vacant Possession and Occupancy
Question: Assuming the deal closes at 2:00 pm, the APS says 6:00 pm, the Registry Office closes at 5:00 pm and the end of the day is 11:59 pm, WHEN …
Undisclosed Furnace Rental
Question: Just had a conversation with the Listing agent. The property closed, and then it turns out that the furnace and air conditioner are leased. Wouldn’t the buyer’s lawyer check …
The Successful Loser
Question Bob, the Buyer “won” in multiple offers. Bob had lost out several times before, so he was now a little “gun-shy”, but he recognized that he had to outbid …
Municipal Tax Sales in Ontario
Municipalities dispose of properties authority under Part XI (Sections 371-389) of the Municipal Act, 2001 R.O. 2001 c. 25, within their jurisdiction for arrears of taxes. The tax arrears include …
Survey or Title Insurance?
Actually, it shouldn’t be one or the other. It should be both. One of the problems is that title insurance was marketed as a cheaper alternative to a survey. This …
Sellers Avoid Lawsuits: Factor Defect into Price!
Everyone wants to negotiate and get a good price for their house. But, when the deal is closed and the sellers have moved on, they really want to be DONE …
Mutual Release Signatures
Question: Is the signature of the Broker of Record or Manager of a Brokerage required for a Mutual Release in order to release the deposit? Answer: This is a rather …
Local Agents and their “Value”
There is always a caution for agents not to step out of their area. It’s important to note that real estate professionals are registered and entitled to practice throughout all …