Prices down 20% since February but the same as August 2021 This is the recently released report of the Toronto Regional Real Estate Board concerning the August 2022 results: “September …
Cost Plus Arrangements Allowed for Real Estate Deals
One of the issues of concern to the real estate profession has been the restriction to charge either a fixed amount or a percentage of the sale price. The difficulty …
The Legal Definition of “Acceptance”
communication Since the art of negotiating is very much part of every real estate deal, and it is the offer and the acceptance of that offer that creates the binding …
Merger of Executory Contracts
Doctrine of Merger Let’s say you are about to buy a farm! It doesn’t all happen at once. First, you submit an Offer; that results in an Agreement. Second, the …
Reasons For Buyers to Deal Directly with the Listing Agent
They aren’t all crazy! The conventional wisdom is that the buyer needs to be properly protected in a real estate deal and have their own agent on their side. Anything …
Problems with Alignment During Construction
Question: Client loves a home that is under construction. The home is vacant and half finished. During our due diligence it turns out that the addition on the back of …
Privity: Contract and Estate
Privity of Contract This is the precise relationship between two parties to a contract. They each have rights to sue one another because they have “privity of contract” An independent …
Preference for Warranty Clauses
Consider the following type of clause: “The Seller represents and warrants to the best of his knowledge and belief that the swimming pool and equipment are now, and on the …
One Attempt at Financing is Not Enough
The Supreme Court in British Columbia just considered a case involving attempts to secure financing Drover v. Steer (15 October 2018). Clifford Drover worked for the Canadian Military. He was …
Disposing of Files in Ontario
Question: When can I finally throw things out? I have been in the real estate business for twenty years. What do you have to physically keep when it comes to …