Assuming that we are to come up with a series of “fair rules” for multiple offers and multiple representation, which organizations should be involved? We have a few to choose …
Seller’s Furnace Warranty Expiration
Question: How you all interpret “completion of transaction” in this clause: “The parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but …
Delivery of the Notice of Acceptance
Ontario Question: Acceptance can be communicated to seller’s sales rep by fax or in person. When seller’s rep receives notice, buyer received it in single representation. Acceptance can also be …
Notice to Remove Conditions in Ontario
Question: When do you use notice to remove condition? And what is the difference between waiver and removing condition. The Course suggests that in lieu of a Waiver, you can …
Real Estate Agents’ Liability in Negligence: Various Grounds
It’s entirely possible for real estate agents to make some mistakes, just like everyone else. But, when they do something in their professional practices that causes someone some financial loss, …
Three Models for Bidding in the Real Estate Industry
Essentially, there are three possible models to choose from for the real estate industry: Open Bidding System, Closed Bidding System, Cheating Bidding System. The Open Bidding System This system works …
Another Couple of Strange Schedule “B” Clauses
They keep coming up. People just don’t understand the law or are too cheap to retain a lawyer to draft up clauses for their Brokerage. Deposit “In the event no …
Commissions From Buyer on Defaulted Deal
Question: I was the Listing Agent and arranged for the sale of my client’s property in May with closing in late August. Buyer provided a $100k deposit. On the day …
Furnace and Central Air: Chattels or Fixtures
Question: Should an owned furnace and central air conditioner into the deal? Do you list them as ‘chattels included’? Or do you just assume that if not listed as a …
Corporate Seal and Contract Seals in Ontario
In Ontario, it has not been necessary for Corporations to have Corporate Seals for about 30 years. However, most do. If the Corporate seal is used then it is not …