Payment of the deposit is a “key” component in most agreements. If it’s not paid at all, that’s a breach. If it’s not paid “in time”, that’s also a breach. …
Deposit Proof for the Buyer
add a few dollars Question: I am still waiting for the Listing Brokerage to provide a deposit receipt? I am concerned about e-transfers, direct deposits and wire transfers. For some …
Deposit Receipt for the Buyer
Question: What is the rule for how quickly a brokerage has to provide a deposit receipt? I am concerned about e-transfers, direct deposits and wire transfers. Since the days of …
Brokerage: 5 Business Days Deposit
Counting the Business Days Question: The Listing Brokerage has 5 business days to deposit the down payment money in the trust fund. My understanding is that the 5 days start …
Dhatt v. Beer (Specific Performance)
Unique This is an interesting case. The Dhatts as Buyers are suing the Beers as Sellers. Just prior to closing, Mrs. Beer had “sellers’ remorse and refused tom close. The …
Submitting Three Offers on 3 Properties at the Same Time
Question: I am a Buyer’s Agent and I have a buyer who has seen 3 houses. He wants to put in Offers on all of them. They are all holding …
Early Contract Remedies in a Market on the Move
The following article was written in early May 2017. That’s the last time that we saw a measurable market decline. If we have one again, the same legal principles will …
Deposit Partial Payment Uncertified- Seller’s Remedies
(Ontario) Question: Deposit due within 1 business day and deposit must be certified/bank draft as per schedule B. The Deposit was $40,000 total. Buyer brings us a 30,000 MONEY ORDER …
Deposit Forfeiture Upheld By Court of Appeal (Redstone)
Redstone Enterprises Ltd. sold its warehouse in Brantford Simple Technology Inc. for the purpose of setting up a legal Marihuana Grow House. Agreement of Purchase and Sale: July 8, 2014 …
Defaulting Buyer and the Seller’s Options
Question: I am very suspicious that the Buyer won’t close. I am the Listing Agent and the Buyer’s Agent inquired about the possibility of a Mutual Release. Answer: This is …