Over the last 5 years just about every little piece of land in the central core has been turned into condos. Developers have had a field day. From the moment …
Clocks Turn: When’s the Deposit Due?
The clocks were all set back one hour on 5 November 2023. This is a time when many real estate agents want to get their message out to the public: …
New Duties of Inquiry Placed Upon Buyer’s Agent under TRESA
The Listing agent once TRESA comes in effect on 1 December 2023 may have some additional information that they would be obligated to disclose. Have a look at s. 22.2 …
Caveat Emptor Comes to an End with TRESA
For hundreds of years, “caveat emptor” or “let the buyer beware” was the prevailing law when it came to real estate transactions. Sellers could expect that Buyers would do “their …
No Agent: Caveat Emptor Still Applies
Have a look at s. 22.2 (1) under TRESA (Regulation 567/05): 22.2 (1) If a seller has a legal obligation to disclose a fact to the buyer and the fact is …
Appliances: Precautions
It is always a good thing for the Buyer’s agent to note the particular appliances by: This way you will know the date of manufacture, whether it is still under …
History of Double Agency
TRESA Let’s roll back the clock by 30 years or so! Sub-agency Sub-agency was in full gear. Yes, there were indeed two agents in a real estate deal, but they …
Buyer’s Agent Fronts the Deposit
Question: I had a long listed listing up and finally sold conditional. Then, I found out the Buyer’s agent is actually fronting the deposit of $10,000.00 Answer: The Buyer’s agent …
Seller’s Indemnity under Listing Agreement
You may wish to consider the Seller’s obligations to indemnify under the standard form Listing agreement prepared by the Ontario Real Estate Association (OREA). Here’s what the clause looks like: …
Agent’s Obligation to Protect Public from Mortgage Fraud
An agent is not able to simply discount the interests of the public. A real estate agent has a general duty to act professionally and protect the public from mortgage …