The Real Estate Council of Ontario (RECO) sent a controversial newsletter about the use of escalation clauses to agents across the province. Discussions on the Internet lit up with criticisms of the RECO position.
If the buyer cannot close, they will likely forfeit their deposit and be subject to a lawsuit from the seller, for the difference in the sale price if the seller now sells the property for a lower price than the buyer agreed to pay.
The saga of the contorted definition of “real estate” continues. Section nine of REBBA continues to be a trap for the unwary in which one individual is barred from receiving compensation while another enjoys a windfall.
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.
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?
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.
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.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.