Correcting Errors in an Offer (Ontario)

Mistakes In Contract Management And Documents You Can Avoid

Question:

I am the Listing Agent and I received an offer on a property and the Buyer Agent made a few errors. In particular, he put items that are not included with the sale in the chattels included, and the wrong maintenance fee amount. Apart from those items my Sellers want to accept. If I make the necessary changes, do I have to make it irrevocable by the Seller, because essentially the terms of the agreement have changed? Or can we accept and just edit those items accordingly and the deal will be firm since those items are errors?

Answer:

You only have three choices with an Offer:

1) accept it,

2) reject it, or

3) let it expire.

Anything else is the start of a new negotiation. That’s just talking, not “contract formation.”

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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