Question: What happens if the Seller refuses to sign the Acknowledgement of Receipt, for conditions fulfilled like inspection or financing? Answer: If you are the Listing Agent, you have authority …
Multiple Offers – One Round or Two Rounds or More
An issue arising frequently is how to conduct a Multiple Offer “bidding war” by the Listing Agent. There are essentially two choices: One Round – Bring Your One and Only …
Remedies for Leftover Junk on Closing (Ontario)
Question: We are now closing for our buyer client on a home sold “as is”. In the agreement we did not include any clause to the effect that the home …
Notice of Fulfillment or Waiver (The “Debate”)
A question that seems to arise frequently is the use of the Waiver and the Notice of Fulfillment (NOF). When do you use one? And, when do you use the …
Execution of the Mutual Release in Real Estate Transactions
The issue presents itself with every failed transaction. Sign the Mutual Release, give the Buyer his deposit and move on. But, is that really the best idea? In a number …
Returning the Deposit in a Failed Transaction
What documents do you need? You are going to have to have some paperwork for the file. If the deal fell through and the deposit is to be returned to …
Reimbursement for Relocation Costs (Real Estate Commission)
The entire matter of reimbursement for the real estate commission falling under the heading of “relocation costs” is very topical. So, let’s have a look at it. Toronto Property with …
Refusing to Accept the Waiver (the Consequences)
It is a popular belief that in certain circumstances, only a Notice of Fulfilment (NOF) will do, and a Waiver is completely unacceptable. That’s true in part. The NOF is …
Protecting Your Commission in the Case of a Shortfall of Funds on Closing
Let’s assume that you are the buyer’s agent and you have been told that the property have been mortgaged to the hilt, the taxes are several years in arrears, and …
Am I Obligated to Respond within the Irrevocable Time? (Ontario)
Question: I am the Listing agent and have received an indication from a Buyer’s agent that my Seller will not accept. Am I “obligated” to Respond within the Irrevocable Time? …