Question: If a buyer brings deposit for the property after 24 hours of offer acceptance; does the purchase and sale agreement need to be amended for the deposit time? Answer: …
Better Grow Op Clauses
Recently, the Ontario Court of Appeal in Beatty v. Wei dealt with the standard form OREA Grow House clause and concluded that it was insufficient to protect the Buyer. The …
Insufficient Co-operating Brokerage Commission
Question: What do I do if the co-operating commission is too low? Answer: Here’s the MLS rule R-730 If a Member is unwilling to accept the commission offered on TREB’s …
Multiple Representation – Winding it up
Ontario Question: If a problem arises in multiple representation and it can only be resolved by winding it up, would then the Brokerage just end either of their Seller or …
Deposits and Consideration
Question: You are trying to explain to a new salesperson in your office the purpose of a deposit when negotiating the terms of the Agreement of Purchase and Sale. Which …
What Kind of Days Should I be Using?
calendar, business, banking “Calendar days” is the preferred choice. If you just say “days”, that’s enough. Everyone knows what that means. Business days under REBBA only apply to regulatory matters …
Role of the Mutual Release in Ontario
Question: Do you always have to get a mutual release signed? I had a deal without a deposit. Answer: One of the primary difficulties associated with the mutual release is …
Order of Clauses in an Agreement (Ontario)
Question: Is there a specific order for the clauses in Schedule A to appear. Answer: The usual order would be: Payments Additional deposits Seller Take Back Mortgage Balance Due Conditions …
BRA Holdover – Referral Enforcement
Buyer Representation Agreement Question: A Buyer Representation Agreement is signed for three months expiring 31 December, with a 120 day holdover period. The Buyer buys on 2 January. What happens? …
Vacant Possession: What does it mean?
Even after you read this, you still may not know. With thousands of years of common law history, this is still a matter which is subject to judicial interpretation. There …