The Listing agent decides to commence an action against his client for commission. The listing didn’t go well and the property didn’t sell. The Listing agent did next to nothing …
OREA Loses its Identity
Is there any real reason for OREA to exist? No, not really! OREA was in the education business but it was fired by RECO a number of years ago and …
Terminating a Commercial Lease
In most situations the arrangements with respect to the termination of a commercial lease are contained in the Lease itself. However, there are many circumstances where no actual Lease is …
Entire Agreement Clause in Contracts
The entire agreement clause is a standard provision included in many commercial contracts. Here is an example of wording for an entire agreement clause in an Agreement: “This Agreement contains …
Restrictive Covenants and Multiple Representation
There can be some unexpected responsibilities with multiple representation. Let’s go through an interesting situation. Bob Jones is a Listing agent, and he is selling Seller Sam’s property. Mary Brown …
NOF not Required if No Condition
Some seller clients had asked me recently about the fulfillment of conditions form 124. They had emailed me lots of documents which were required to satisfy a condition of purchase. …
Disclosures under the Act and Regulations
General Regulation under TRESA There are some policies and procedures set out in the legislation which are new to Regulation 567/05 being the General Regulation, including a paragraph dealing with …
Use of Forms in Real Estate Transactions
OREA Forms “likely” There are some policies and procedures set out in the legislation which are amendments and changes to Regulation 567/05 being the General Regulation. “Forms 2.1 A registrant shall …
Suicide Disclosure
Question: Does a suicide in the unit have to be disclosed by the seller? Or is it a buyer beware type of situation? Answer: The law does not require the …
Time for Closing: 5:00 pm or 6:00 pm?
There used to be a time when agreements of purchase and sale provided that transaction must be completed prior to 4:30 pm on the date scheduled for closing. Now that …