“Just Deposits” Course

Deposit or Penalty: What Happens to the Other Half of a 'Deposit by  Instalments' When a Property Sale Goes Wrong? - Trinity Law

The Course, “Just Deposits”, basically covers all you ever wanted to know about deposits.

When it comes to deposits, ask yourself the following questions:

  • Is a deposit necessary?
  • What happens if it is late?
  • May the Seller cancel the contract?
  • Is it necessary to sign a Mutual Release before re-listing?
  • Is the Release necessary before the second sale?
  • How much should the deposit be?
  • When is it too small?
  • When is it too large?
  • Should it bear interest?
  • What does a Stakeholder require to release it?
  • When is it due?
  • What if it is late by a minute?
  • What is required for delivery of a deposit?
  • Must it be certified?
  • What happens if the cheque doesn’t clear?
  • Who gets the deposit if the Seller defaults?
  • Who gets the deposit if the Buyer defaults?
  • What happens if the Seller sells for more money to the second Buyer?
  • What should you do to protect your Buyer if you are going to be late?
  • And, what if……the deposit……????

That’s somewhat of an Outline of various questions addressed in this Course.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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