The Listing agreement contains the following reference in Paragraph 2 dealing with the commission: “All amounts set out as commission are to be paid plus applicable taxes on such commission.” …
Representing Sellers in Estate Sales
Questions: Answers: The authority of the Executors comes from the Will, They can sign a Listing Agreement, the Agreement of Purchase and Sale, and related and ancillary documents. However, they …
Amendment: Meaning when it’s not Used Properly
Buyer has an accepted offer conditional on the following 3 conditions: 1) Inspection, 2) Mortgage Financing, and 3) Environmental Assessment. With the first 2 conditions the Buyer submits an amendment …
TRESA: Competing Offers Website
When you are acting for a Seller and there are several competing Offers, you are under an obligation to disclose the number and certain other matters concerning those Offers. If …
TRESA: Mandatory Disclosures for Competing Offers
Under TRESA, we have the same mandatory disclosures in respect to competing offers. NUMBER No significant changes here. The number is still the number. If an Offer expires, it is …
TRESA: Sharing of Offers
Question: The new TRESA legislation appears to allow the Listing agent to share Offer content with others who have made Offers. Is there anyone else? Answer: Actually, “yes”, the content …
TRESA: Documenting the Commission Reduction
If you were the Listing agent and you had an arrangement with your Seller where in certain circumstances, the overall commission payable may be reduced, then you would be under …
TRESA: Agreements Relating to Commission
This provision is essential intact. It used to be in the Code of Ethics and now it has been moved over to the General Regulation. Here is what is says: …
TRESA: Client
The definition of client under TRESA is as follows: “1. (1) In the Act and the regulations, “client” means, (a) with respect to a brokerage and a trade in real estate, …
TRESA: Short Forms
Remember, there are some new short forms: TRESA Trust in Real Estate Services Act RA representation agreement BRA brokerage representation agreement BRA buyer representation agreement DRA designated representation agreement …