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 …
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, …