You want to have a 6:00 pm deadline on Tuesday. So, what’s the best way to set that up. Rather than counting the days, let’s pick the date: That’s 18 …
The Problem Counting Days
Counting Days: Ontario Real Estate Question: If an agreement is accepted at 9:30 am, does the conditional period start that same day, or does it begin the following day? The …
Limiting Liability Clause in the Agreement of Purchase and Sale
The following clause is currently under discussion: “The Buyer is aware, understands and agrees that all land, improvements and real and personal property will be sold, conveyed and/or assigned, as …
Understanding the Confirmation of Acceptance (3)
Question Three What is the purpose of the Confirmation of Acceptance (COA)? Answer: The purpose of the Confirmation of Acceptance is to set the clock running. It is not part …
Understanding the Confirmation of Acceptance (2)
Question Two The Confirmation of Acceptance is set out in the Agreement of Purchase and Sale. Who signs it? Let’s look at the following scenario. Two Buyers execute an Offer …
Understanding the Confirmation of Acceptance (1)
Question One When should the Confirmation of Acceptance be signed and who should sign it? Answer: Brian Madigan LL.B., Broker www.OntarioRealEstateSource.com
Cancellation Agreement
Question: I am suspending a listing. My Seller clients are asking for a release form? Which form would that be? Is that even needed since the suspension/cancel form is in …
Conditions: Do You Need Waivers?
Let’s have a look at two clauses: No Waiver “This Agreement of Purchase and Sale is conditional until 9:00 p.m. on the 25th day of November, 202_, (“Due Diligence Date”) to …
A Decade Since Bhasin v. Hrynew
The Supreme Court of Canada released its decision in Bhasin v. Hrynew late in the afternoon on 13 November 2014. That meant that no one really “knew” about it until …
Deposit Returned: Not Forfeited (EPRF Holdings v. Fergus Bloor)
Fergus Bloor (the Buyer) submitted a deposit in the amount of $350,000.00 on a $7 million purchase. That amounted to 5% of the purchase price. Cushman & Wakefield ULC, (“Cushman”) …