Fulfilling purchase agreements in good faith

REM Online

The original post can be found at the following URL: Fulfilling purchase agreements in good faith. First, what duties do sellers owe purchasers when damage to a property may be substantial and second, what constitutes substantial damage to property?

Reviewing a builder’s Agreement of Purchase and Sale

REM Online

The original post can be found at the following URL: Reviewing a builder’s Agreement of Purchase and Sale. These Agreements Of Purchase And Sale (APS) are very one-sided in the builder’s favour. Featured Legal Issues Agreement of Purchase and Sale developer

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Buyer’s failure to waive conditions nullifies Agreement of Purchase and Sale

REM Online

The original post can be found at the following URL: Buyer’s failure to waive conditions nullifies Agreement of Purchase and Sale. The original post can be found at the following URL: Buyer’s failure to waive conditions nullifies Agreement of Purchase and Sale.

When are buyers entitled to rescind a purchase agreement?

REM Online

The original post can be found at the following URL: When are buyers entitled to rescind a purchase agreement? The original post can be found at the following URL: When are buyers entitled to rescind a purchase agreement? 2019 Agreement of Purchase and Sale Issa v.

Mitigation of damages when an Agreement of Purchase and Sale is breached

REM Online

The original post can be found at the following URL: Mitigation of damages when an Agreement of Purchase and Sale is breached. The original post can be found at the following URL: Mitigation of damages when an Agreement of Purchase and Sale is breached.

Buyers lose right to recover deposit after seller breaches agreement

REM Online

The original post can be found at the following URL: Buyers lose right to recover deposit after seller breaches agreement. The original post can be found at the following URL: Buyers lose right to recover deposit after seller breaches agreement.

Courts show little empathy for failed purchasers

REM Online

The original post can be found at the following URL: Courts show little empathy for failed purchasers. Purchasers should take these risks to heart: the courts will not impose a duty on purchasers to extend closing dates, as it would effectively be to condone breach of contract.

Seller can repossess townhouse after buyer fails to complete purchase

REM Online

The original post can be found at the following URL: Seller can repossess townhouse after buyer fails to complete purchase. The original post can be found at the following URL: Seller can repossess townhouse after buyer fails to complete purchase.

Buyer loses $100,000 deposit after refusing to purchase condo

REM Online

The original post can be found at the following URL: Buyer loses $100,000 deposit after refusing to purchase condo. The original post can be found at the following URL: Buyer loses $100,000 deposit after refusing to purchase condo.

Misrepresentation in square footage leads to rescission of Agreement of Purchase and Sale

REM Online

The original post can be found at the following URL: Misrepresentation in square footage leads to rescission of Agreement of Purchase and Sale. resulted in the rescission of the Agreement of Purchase and Sale (APS) and the return of the $50,000 deposit.

Proposed amendment deleting conditions not a waiver or notice of fulfilment

REM Online

When entering into an Agreement of Purchase and Sale (APS) for a property, buyers and sellers must remain cognizant of the precise language used and conditions they need to follow for an offer to be binding.

Starting from Scratch: What to Do When Your Real Estate Listing Agreement Expires

HomeLight

When you signed the listing contract to put your house on the market, you had high hopes for a quick sale. And now you’ve realized that even the listing agreement with your agent has expired. How long are most listing agreements?

Signed, sealed, delivered…I’m yours?

REM Online

This case addresses the interesting issue of whether the words “signed, sealed and delivered”, which appears on the standard form OREA Agreement to Purchase and Sale, meets the “sealed contract” rule in law.

Standard of care owed by agents

REM Online

Sychev, the Ontario Superior Court of Justice affirmed when an Agreement of Purchase and Sale (APS) will be kept alive, preventing a buyer’s release from their contractual obligations. Featured Legal Issues Shaneka Shaw-Taylor Agreement of Purchase and Sale Kazakevich v.

Seller ruled not responsible for property zoning or future use limitations

REM Online

The Ontario Superior Court of Justice affirmed that preliminary discussions between a buyer and seller regarding the potential zoning or future uses of a property are generally superseded by the written terms of the purchase agreement.

When a property is damaged prior to closing

REM Online

Legal Issues Shaneka Shaw-Taylor Agreement of Purchase and Sale fire fire damage Paul Crowther Pordell v. The following content may have been republished here without the author's permission.

Existing home sales rise in June as inventory improves

Realty Biz

Existing home sales rose by 1.4% million units, following four months of declining sales. The sales numbers are based on transactions closed in the month, so they could be contracts signed in April or May, the National Association of Realtors reported. preventing some sales.

How big is this place, again?

REM Online

So what happens when a buyer purchases a property under the mistaken belief that it measures 2,000-2,500 square feet, and later finds out, before closing, that is it actually only 1,450 square feet? Featured Legal Issues Agreement of Purchase and Sale Issa v.

Court awards buyers $150,000 after seller reneges on house deal

REM Online

An Agreement of Purchase and Sale is just like any other legal contract: Once duly signed, it is binding and must be honoured according to its terms. Legal Issues Agreement of Purchase and Sale Datta v.

If I am Purchasing or Selling a Home, Should I Hire an Attorney?

Realty Biz

Fortunately, most house sales follow a relatively consistent pattern that real estate brokers are well-versed in. A lawyer or CPA can assist you in determining how the purchase or sale of your home may impact your tax return.

Developer deals: Convey parkland to the city, or pay cash-in-lieu?

REM Online

Featured Industrial, Commercial & Investment Legal Issues Agreement of Purchase and Sale CIBC CIBC v. The following content may have been republished here without the author's permission.

Water damage insufficient to terminate transaction

REM Online

Archive Agreement of Purchase and Sale Bilotta v. The following content may have been republished here without the author's permission. The original post can be found at the following URL: Water damage insufficient to terminate transaction.

Staying After Selling: What to Know About Use and Occupancy Agreements

HomeLight

As excited as you are about the prospect of a successful sale, you’re hesitant to sign a contract without knowing you’ll have somewhere to go. Enter the use and occupancy agreement. This often occurs when the seller has listed their current house before purchasing the next one.

4 Value-Driven Sales Strategies to Increase Team Production

RIS Media

Here are some proven sales strategies to help drive your agent’s success every day and week, setting more appointments, converting more leads and making more sales happen for your team and for themselves. Without face-to-face appointments, there will be no listings or sales.

Leasebacks trend as sellers struggle to find a home to replace theirs

Realty Biz

With existing home inventories super tight and competition among buyers for the few homes that are listed for sale, many have struggled to buy a new home before they leave the one they’re selling. Home Sales fast home sales leaseback agreement rent-back

How Long Does a Short Sale Take? What to Expect When You’re Buying Short

HomeLight

And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. Though short sales aren’t as prevalent today as they were following the Great Recession , they’re not impossible to find, and good deals for buyers can still be had. It’s a long sale.

What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” The post What’s in a Sales Contract?

How Long Should the Contingency Timeframes in a Purchase Contract Be?

RIS Media

A standard home purchase agreement typically includes contingencies. Purchase contracts typically include an appraisal contingency. If a home appraises for less than the agreed-upon sale price, the buyer can put a larger sum down, ask the seller to reduce the price or walk away.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline. Short sales 101. Let’s start with the basics: What even is a short sale?

What Is A Short Sale and Is It A Good Idea As A Buyer?

HomeLight

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. How do short sales work? Since short sales are complex deals with multiple parties, lenders typically only approve short sales when foreclosure is unavoidable.

ERA Collaborative Culture showcased as two ERA Broker/Owners Partner to purchase 3rd ERA Affiliate

Realty Biz

The central Texas powerhouse generated 1,829 transaction sides in 2019 equating to $489 million in sales volume. Today the firm is the second largest in Jonesboro with 64 agents producing $102 million in sales volume. million in sales volume in 2019 according to REAL Trends.

Much Ado About Estate Sales

Toronto Realty Blog

“in his will, he divided his estate between his wife and daughter” While I would love nothing more than to delve into photos and fantasies about the sale of mansions in the Swiss alps, it is, of course, the latter of the two that I want to talk about today. TorontoRealtyBlog.

10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process.

3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

But for some buyers, that excitement can quickly turn to anxiety when it comes time to sign the purchase contract. Once you and the seller sign the purchase agreement, things start to get real. Issues with financing are fairly common in home sales. Home sale contingency.

Late-July Home Sale Prices Up 11%, Largest Annual Increase Since 2014

Redfin

Key takeaways for the 4-week period ending July 26: Pending home sales were up 12% year over year, an increase from the 7% year over year gains we reported for the period ending July 12. Home sale prices were up 11% year over year for the week ending July 26, the largest increase since 2014.