Under the new TRESA legislation, there are several contracts which are identified and defined. Let’s have a look at Regulation 567/05: “representation agreement” means a written, oral or implied agreement …
TRESA: General Purpose and Objectives
Looking at the new TRESA legislation, there are several different purposes and objectives. There are effectively, three phases: Phase 1 This was introduced in order to permit the real estate …
Disclosure Documentation for Material Facts under TRESA
There have been some changes with respect to material fact disclosure under TRESA. First, let’s go to the definition: “material fact means, with respect to the acquisition or disposition of …
The Long List of Trivial Services
List for Schedues Some Agents are looking to ensure that their list of services outlined in Schedule “A” to either the Listing Agreement or the Buyer Representation Agreement is lengthy. …
Pre-listing Home Inspection (under TRESA)
You will recall that I had suggested some arrangements to be set in place to assist in having Pre-listing Home Inspection continue in face of the new rules set out …
TRESA: Using Schedule “A” to the Listing
OREA has now drafted up a Schedule “A” to be attached to a Listing. This arose in response to the requirement for clarity when it comes to “services” as set …
TRESA: Business as Usual
TRESA: Now Lesser Obligations to Disclose To some extent, the new TRESA legislation is confusing because agents didn’t seem to know, appreciate and apply the law as it stood. Now, …
Seller’s Obligations under the Listing Agreement
There are a number of duties, obligations and responsibilities of a Seller under the standard Form Listing Agreement from OREA. Here’s a list: All of the above matters should be …
TRESA: Services Provided to Seller
Under the TRESA legislation there is a reference to the services provided to a client and the corresponding representation agreement. Specifically, TRESA (Regulation 567/05) states as follows: “Contents of …
TRESA: Securing a Pre-Listing Inspection under the New Rules
Once the new disclosure rules came into effect under TRESA, agents have had second thoughts about the pre-listing inspection. In many cases, they were a very good idea. With an …