Tags Posts tagged with "deposits"



When a buyer fails to close a real estate transaction and the seller is awarded damages, should the seller credit the deposit to the damages award or should the seller be allowed to keep it in addition to the award?


The Court of Appeal found that the phrase “without any personal liabilities” was to be interpreted in the context of a contract as a whole, not applying just to the deposit.


How one couple ended up with litigation and a lost deposit (and how they could have avoided it). You have duties of honesty and fairness to everyone involved.


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.


I am grateful that Joe Richer, registrar of the Real Estate Council of Ontario (RECO) stated his position regarding the clause that I proposed. This injustice cannot be fixed without the support of organized real estate.


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.


Vito Campanale proposed an alternate way to obtain consent from buyers and sellers, in order to release the deposit back to the buyer if conditions are not fulfilled. Here’s RECO's position on this proposal.


What happens when the seller, after they have been properly informed in writing by the buyer that a condition has not been met, refuses to release the deposit?


In a case heard in the Court of Appeal for British Columbia, the seller and purchaser entered into a standard form contract of purchase...


Halifax-based Chris Ryan and Kevin Kline figured there had to be a better way, so they came up with one: ExactDeposit - an online deposit system for real estate that will let homebuyers submit deposits entirely from a computer or mobile device, without ever needing a paper cheque.