Legal Issues

Legal Issues

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Ontario recently announced the 15 per cent Non-Resident Speculation Tax and there are already more questions than answers. In this short video, lawyer Mark Weisleder tells you what you need to know about the new tax.

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Determining the residency status of the seller should be completed well before the closing date and should go beyond a simple conversation.

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Now here’s where it gets problematic: the property doesn’t sell after six months. Upset with the result, your client decides to sell the property on his own. The property sells in the seventh month. Are you entitled to your commission?

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A major issue arising in bidding wars is when a buyer regrets their purchase decision almost immediately afterwards. Here are five lessons to learn about the consequences of a buyer's remorse in these situations.

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Here are some items I look at and questions I ask when reviewing a status certificate in advance to give the buyers comfort before making their purchase decision.

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At a time when condos are getting older and need their money for repairs, and with utility costs rising, condo boards simply should not make discretionary spending choices – even if they think they are entitled to.

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Most leases require a tenant to obtain insurance that is consistent with the lease terms before they can enter a premises. Despite this fundamental prerequisite to enter, most tenants fail to meet the lease’s insurance provision.

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In my opinion, the use of this clause by any Realtor needs to be looked at with a much deeper interpretation of the implications it creates.

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Large fines have been levied against brokerage firms that have not been in compliance at the time of the audit. Here are some questions to ask to see if you are ready in case the FINTRAC auditors come calling.

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Time deadlines in real estate deals have never been more important than today. I experienced two deals just before the holidays that confirmed what happens or can happen when you miss a deadline.