This is a common clause which is used frequently: “Unless the Buyer gives notice in writing delivered to the Seller personally or in accordance with any other provisions for the …
Release From Prior Agreement #3
This is another clause, used by real estate agents: Release from Prior Agreement “This Offer is conditional upon the seller being released from the agreement of purchase and sale dated …
Release From Prior Agreement #2
This is another clause, used by real estate agents: Release from Prior Date “This Offer is conditional upon the Seller obtaining a properly executed Mutual Release from a prior Agreement …
Release from Prior Agreement
This is an interesting clause which some agents use: Release from Prior Time Agreement The acceptance of this offer is conditional upon the Seller obtaining a properly executed Mutual Release …
Resale and Mitigation of Loss Steps
Let’s have a quick look at the steps taken by Mr. Pollard to mitigate his loss on the resale after Ms. Perry defaulted on their agreement. This is information drawn …
The Deposit is an Unnecessary Term in an Agreement
Unpaid Deposit Many people will argue that there is no contract unless the deposit has been paid. So, in effect, there is a slight waiting period before we have a …
Tried to Negotiate the Deal after the Contract was Unconditional
Pollard v. Perry Ms. Perry submitted an Offer on10 Golfview Drive, Collingwood, Ontario. The listing price was $995,000. The sale price agreed to was $1,050,000.00. The agreement was unconditional. Actually, …
Be alert to the Relative Degree of Cognition
It’s very important to be alert to the relative degree of cognition of the client. Do they speak English? Do they read English? Can they explain the steps you have …
Accept whatever Deficiencies Show Up
Question: I am trying to strike a balance between “good working order no matter what” and keeping a buyer honest who learns about a deficiency during an inspection, keeps quiet …
Agency: What Takes Precedence the Code or Common Law in Ontario?
Question: REBBA 2002 requires a written agreement but then Agency Law states that it is not necessary to have a written agreement. Which would take precedence? Answer: The Act does …