The standard form OREA Agreement of Purchase and Sale requires initials to be placed on every page for the purposes of acknowledgment except the actual signing page. The difficulty is …
How to Handle Offers and the Growing Count
(Toronto Market 2021) The Toronto resale housing market is relatively “hot”. There is a shortage of supply, and quite a few “buyers” for every property. Offer Day From the perspective …
Getting an Opportunity to Present an Offer
Question: I showed a property a few days ago that was holding offers for 10 days. I was able to contact the Listing Agent and he was not co-operative at …
Disclosure of Interest: Who do You Tell?
This would seemingly be a rather straightforward and simple question. Let’s look at it carefully. A registered real estate practitioner in Ontario is about to put in an Offer, but, …
Clarity Copies of Unreadable Agreements
From time to time, copies of Agreements of Purchase and Sale will simply be unreadable. If you are the real estate agent what should you do? First, they didn’t just …
Clients and Customers
Are there any specific duties and obligations owed to Clients that are not owed to Customers under the Act and the Regulations (aside and apart from “best interests)? And, what …
Brian Madigan’s OFFER DOCUMENT SUMMARY
I have been requested to suggest a Form of document which would be sufficient for a Brokerage to hold instead of a copy of the actual Offer. This is in …
The Evolving Duties and Responsibilities of “Agents”
There are five primary sources of new legal requirements for real estate agents: Statutory laws, Regulatory laws, Changes to the local MLS rules and regulations, Discipline cases published by RECO, …
When Must the Deposit Cheque be Deposited in the Bank?
Featured QUESTION: Salesperson Smith prepares an offer for $435,000 on a property located in Toronto, Ontario, on behalf of Buyer Jones. The offer is drafted and signed by the client …
Defects in Real Property and Related Disclosure Issues
The question relating to the obligation to disclose is one which arises constantly, and applies to every real estate sale. What are the disclosure obligations? The matter of patent and …
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