TRESA Let’s roll back the clock by 30 years or so! Sub-agency Sub-agency was in full gear. Yes, there were indeed two agents in a real estate deal, but they …
Buyer’s Agent Fronts the Deposit
Question: I had a long listed listing up and finally sold conditional. Then, I found out the Buyer’s agent is actually fronting the deposit of $10,000.00 Answer: The Buyer’s agent …
Seller’s Indemnity under Listing Agreement
You may wish to consider the Seller’s obligations to indemnify under the standard form Listing agreement prepared by the Ontario Real Estate Association (OREA). Here’s what the clause looks like: …
Agent’s Obligation to Protect Public from Mortgage Fraud
An agent is not able to simply discount the interests of the public. A real estate agent has a general duty to act professionally and protect the public from mortgage …
Possible Asbestos Issue
Question: A house that had 8 inch vinyl tiles and it was presumed to have contained Asbestos. Based on the time period, the house was built in the early 60’s. …
Cleaning the Unit before Sale
Question: Can anything be done if a Seller and their agent refuses to clean a unit before closing? Answer: Certainly, it would be very nice if the Seller cleaned up …
Water Seepage with Closing Approaching
Question: Seller calls and say that there is slight water seepage in their unit from another unit on upper floors just few weeks prior to closing. The damage “might” be …
Vendor Take Back Mortgages (Risks)
Question: I am a Listing agent and was I was asked about a Vendor –take-back mortgage (VTB) by a Buyer’s agent . Have t done one of those in eons. …
As is, where is”: The Supreme Court of Canada
The Supreme Court of Canada used the following language when discussing “as is, where is”. It applies at the time, unless you say otherwise. The Honourable Mr. Justice Dickson J. …
“As is, where is” Transactions
“As is, where is” is a term often used in real estate transactions. It signifies the condition in which a property is being sold, implying that the property is being …