No Deposit: Agent’s Responsibility

If the purchaser fails to deliver the deposit, whose responsibility is this? What is the role of the agent? The Real Estate Council of Ontario (RECO), the regulating body for …

Pursue Various Avenues for Financing

Question: Can a Mutual Release be sent before the deposit cheque is given in? Offer is conditional on mortgage financing. This is the day after acceptance and deposit cheque is …

Deposit Delivery: Buyer Becomes Ill

Question: Seller just accepted an offer on Friday night (of a long weekend). The Buyer’s agent texted me this morning saying his client hurt her leg on the stairs and …

Seller Sues on Two Transactions

The Seller will sue the defaulting Buyer both on the sale and on the purchase. Why should the Buyer get stuck with damages on the second deal? Wasn’t that the …

Deposit Directions

There are naturally times when you don’t want to execute a mutual release but you are prepared to return the deposit. All you need is a Direction, and this is …