It is important to be aware of the following provision in the new TRESA legislation: “Multiple representation 22. (1) A brokerage shall not represent more than one client in respect …
Buyer: Notice of Revocation
With the new TRESA legislation, we now have lots of new Forms. Here’s Form 108 Notice of Revocation: “Pursuant to the following term of the Agreement of Purchase and Sale …
Buyer and Offer Transparency
The new TRESA legislation permits Offer contents to be shared in whole or in part. Assuming that the Buyer is not pleased with this disclosure of their Offer contents, then …
Property Falling into the Water
Question: I remember looking at a cottage vacation property that was experiencing a number of issues. The shoreline was eroding fairly quickly and we didn’t want to buy a cottage …
Disclosure Forms under TRESA
There are a number of new Disclosures required under TRESA. Here’s a partial list: Be sure you record them all and document them in your file going forward. If you …
Working with a Realtor FORM
This document which was initially intended to explain agency has now been eliminated in its entirety. It was helpful in documenting the time when agency actually commenced. The Consumer selected …
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 …