There is a standard form Agreement for assignments prepared by OREA. You should be using it. I do understand that quite a few real estate agents are unfamiliar with the …
Assignments Can Cause Difficulties Over Closing Dates (Ontario)
Question: I represent assignees in an assignment for a detached home. The assignment states that other than the deposit for the assignment (25k) all payments and the deposit for the …
Assignments and Extensions of the Closing Date (Ontario)
Assignments and Extensions of the Closing Date (Ontario) Question: I represent the Assignee in a transaction for a condo under construction. The original Agreement of Purchase and Sale with the …
Does a Buyer Customer Service Agreement Block out a Subsequent Buyer Representation Agreement?
(BCSR vs. BRA) Question: Curious about this scenario: You’re the listing agent and a random lead wants to see the property. So you sign them up with a Buyer Customer …
Power of Attorney and Notarization (Ontario)
Question: My clients are residents of Canada who are on a work assignment out of the country. Due to work, it is very difficult for them to return to Ontario …
Damage by Fire Prior to closing (Ontario)
Question: If you bought a house today, closing in September, but it burnt down in August… Do you still have to close the deal? Answer: There are several issues which …
How to Negotiate the Non-Exclusive BRA in Ontario
Question: I got a call this morning from a potential buyer to view my listing. I asked if he had an agent…he said I want you to represent me as …
Commission Elimination with Power of Sale
Question: I am concerned about being paid a commission on my listing. The second mortgagee is taking power of sale proceedings. Will the Buyer get proper title? I verified the …
The Lost Deposit Cheque in Ontario
Question: Firm Buyer deal. I’m the Buyer’s agent. I drop off the bank draft deposit cheque to (and payable to) the listing brokerage and get a receipt. Over a week …
What Happens if the Seller Gets “cold feet”? (Ontario)
Question: What happens when the seller decides he doesn’t want to sell anymore. Offer accepted, all conditions met just closing in a few weeks and now seller doesn’t want to …