Ontario Question: Can you explain these “Coming Soon” signs I’m seeing all over the place? How does that work? Are the contracts post-dated, but the sellers allow the sign on …
Insurance Clause in Detail
INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance …
Irrevocable Clause: The Time Limit
(Ontario) Question: I understand the meaning of irrevocability in an offer however I’m a bit confused by this statement. “The offer can be revoked only before communication to the other …
Holding Back Offers Document in Ontario
Question: Form 244 on a Listing Says: “No Conveyance of Offers Until 5pm Monday, presentation at 8pm” To me it means do not tell me you have and offer, do …
Holdover Commissions in Ontario
Question: A buyer is introduced during validity of the first representation agreement and completes the purchase under a subsequent representation agreement with another brokerage. Two observations: “Under current practices, the …
How to Change a Few Dates in the Agreement
(Ontario) This is an interesting issue. There are several approaches to this, and ultimately no correct answer. The Agreement Bob, the Buyer, and Sam, the Seller, strike a deal on …
Deleting a Portion of the Title Clause
(Ontario) Question: If a knowledgeable buyer/client in the preprinted clause 10. Title. scratched out and initialed the following paragraph: “(a) any registered restrictions or covenants that run with the land …
Contract Reference Date
It is rather interesting that in Ontario the “date” we commonly use is the Offer date, not the Acceptance date to refer to the contract. In fact, the Offer date …
Initials – How Many?
Question: My client receives an offer for $1 million. My client (the Seller) counters at $1.2 million, and initials the change. The Buyer now wants to signback at $1.1 million. …
Chattels, Fixtures and the Listing
Question: One of my listings sold recently, and the buyer’s agent put nothing in the inclusions. The listing indicates the appliances are included – but there is no mention of …