A Buyers “Duty of Honesty” In An Agreement of Purchase and Sale

In an earlier article I discussed the duty of good faith in the formation and performance of resale residential agreements of purchase and sale with particular focus on a buyer relying on his conditions to terminate an agreement. Typical conditions include the buyer arranging financing and/or insurance, and performing a home inspection, all of which […]

Posted in Agreement of Purchase and Sale | Leave a comment

Rented vs leased fixtures and how it can affect your home purchase

When preparing a listing agreement or an Agreement of Purchase and Sale a real estate agent must ensure that rental items (for instance, a hot water tank and heater, water softener, furnace or air-conditioner) are in fact true rentals and not the subject matter of a lease or other agreement which includes an obligation, as […]

Posted in Agreement of Purchase and Sale, Legal Real Estate Advice | Leave a comment

Agent Wins Commission Despite Seller Refusing to Accept Offer

Agent Wins Commission Despite Seller Refusing to Accept Offer This is great news for agents who have worked hard to procure an offer complying with the listing agreement only to have the seller refuse to accept the offer. In a recent case the Superior Court of Justice has confirmed the judgment of the Small Claims […]

Posted in News, Real Estate Agents | Leave a comment

HST Rebate For New Homes

HST REBATE  – New Home/Condominium purchased from Builders (not resales and not commercial properties) It is always important to review and understand your Agreement of Purchase and Sale. Unless it otherwise provides, if you entered into an Agreement of Purchase and Sale after June 18, 2009, and which in fact closes on or after July 1, 2010, […]

Posted in Agreement of Purchase and Sale, Taxes | Leave a comment

How Tax of A Non-Residents Sale of Real Estate Works in Ontario

If a seller of real property is a non-resident of Canada, section 116 of the Income Tax Act obligates the buyer to hold back and to pay to the CRA (within 30 days after the end of the month in which the closing occurs) 25% of the sale price unless the seller has applied for, obtained […]

Posted in Taxes | Leave a comment

City of Toronto Residential Property Owners: Front Yard Parking

Front Yard Parking permits are not transferable. Each new owner of the property must apply to the City for his/her own permit, which, if granted will include the payment of certain fees. It is the responsibility of the new owner to ensure that the existing front yard parking pad is legally installed. By calling 416-392-2489, […]

Posted in Legal Real Estate Advice | Leave a comment

What is WETT: Wood Energy Technology Transfer?

Wood Energy Technology Transfer Inc. (WETT Inc.) is a non-profit training and education association which functions as the national registrar of the WETT program to promote the safe and effective use of wood burning systems in Canada. The Wood Energy Technical Training program is designed to: “provide training to those who offer wood energy products […]

Posted in WETT | Leave a comment

Pets: Are they allowed in rental apartment buildings and condominium buildings?

Although pets cannot be prohibited in rental apartment buildings in Ontario, they can be regulated and prohibited in condominiums where the condominium declaration so provides, BUT service animals must be allowed for owners/residents with a disability. The Ontario Human Rights Code trumps the condo Declaration. The condo corporation can ask for medical confirmation of the […]

Posted in Legal Real Estate Advice | Leave a comment

Tree Law – Overhanging Branches and Who Can Cut Them Down?

Unless there is legislation or restrictive covenants to the contrary, the current common law regime allows “each property owner, within the boundaries of his or her own property, to do as they wish. This is so both with respect to planting trees, which may tomorrow block a neighbour’s view or spill onto a neighbour’s property, […]

Posted in Legal Real Estate Advice | Leave a comment

Mortgage Down Payment Help From Parents: Is It a Gift, Loan, or Trust?

My mom gave me $50K to help with my down payment: is it a gift or is it a loan or did a trust just get thrown at me? Many parents are financially assisting their adult children to purchase real estate. Sometimes it’s a few thousand dollars; sometimes significantly more. Is this financial assistance a […]

Posted in Legal Real Estate Advice | Leave a comment