Question: My Seller client sent me a request upon review of the draft listing agreement. “Can we add a confirmation that if buyer backs out we are not on hook …
Self-Representation under TRESA
The 30 year role of a customer having lower status than a client and someone to who fiduciary duties are not owed will be gone under the new Act. Consumers …
Unrealistic Online Evaluations
Question: I went on a Listing appointment, and the Seller had conducted a price evaluation through RBC online. It came in $300,000.00 too high in my opinion. Then, I checked …
Listing Cancellation and the Holdover Provision
Question: I have a potential client who wants to list their home with me. They had their home listed with another brokerage with a listing period of Sept 2022 to …
Deposit Directions
There are naturally times when you don’t want to execute a mutual release but you are prepared to return the deposit. All you need is a Direction, and this is …
Deposit Timing and Delivery
Question: If an offer is accepted on a Friday and your buyers cannot get the deposit in until Monday, please address that in the offer!!! It says 24hrs, not when …
Deposits and the Mutual Release
Just the Direction Question: When it comes to releasing a deposit back to a buyer when a conditional deal doesn’t firm up (can’t fulfill Sale of Buyers’ Own Property, for …
Defect Disclosures
Question: I am a Listing agent and the property I am about to list has Kitec, vermiculite and a buried swimming pool. Do these have to be disclosed? Answer: Kitec …
Permission to Contact after Listing is Gone
The Missing Invitation This is intended to apply after the Listing ends. Here’s the actual wording in the Listing Agreement: “In the event that this Agreement expires or is cancelled …
Restrictive Covenants and Multiple Representation
There can be some unexpected responsibilities with multiple representation. Let’s go through an interesting situation. Bob Jones is a Listing agent, and he is selling Seller Sam’s property. Mary Brown …