Unraveling the “Survive Closing Non Merger” Clause in Real Estate Agreements

In the world of real estate, the process doesn’t end with a handshake – it’s filled with complex jargon and clauses. One such term that often pops up is the “Survive Closing Non Merger” clause. Not exactly a phrase that rolls off the tongue, right? Fear not, we’re here to break it down for you,…

The buyer won’t close. What are my legal remedies?

What can a seller do? Here’s the short answer: Extend the closing if the seller still wishes the transaction to close Accept the breach, terminate the transaction, keep the deposit without having to account to the buyer and walk away (this is prudent in an escalating market) Accept the breach, hold the deposit in abeyance,…

Death In Real Estate: Do I Need to Probate the Will Before I Sell the House?

As a real estate lawyer, I am often asked if the Will of a deceased client must be probated before his real estate may be dealt with. There are a few issues to consider before the aforementioned question can be answered (and in this blog I will only address situations where the deceased has made…

Land Transfer Tax, Rebates, and Exemptions For First Time Buyers

When it comes to answering these questions and deciphering their answers, consulting a real estate lawyer is often a good first step for potential homeowners. Generally speaking, the Ontario Land Transfer Tax Act and the Municipal Land Transfer Tax Act of Toronto provide that buyers are obligated to pay a land transfer tax upon the purchase…

Can you Evict your Tenant When Selling your Property?

Signature on a notice of termination when evicting a tenant.

I am often asked by sellers of their principal residences and investment properties if they can evict their tenants and provide vacant possession of the property to the buyer. Section 49 of the Residential Tenancies Act permits a landlord/seller, in certain circumstances, who has entered into an Agreement of Purchase and Sale to, on behalf…

The Critical Role of Home Inspections in Real Estate Transactions

a female home inspector standing in front of a home going over the report with a potential real estate buyer.

Buying a home is one of the most significant investments you’ll make in your lifetime, and ensuring that investment is sound requires more than just a cursory glance at the property’s aesthetics. This is where the importance of a comprehensive home inspection comes into play, a step too crucial to overlook or to attempt to…

Can you Hold Back Funds on Closing When an Appliance is Broken?

dishwasher spilling water shows why buyers can withhold funds on closing for broken appliances.

The simple answer is: No. As in any contractual situation, the agreement of purchase and sale is the first document that should be reviewed. Unless your agreement of purchase and sale gives you the right to holdback a specified sum of money, other than in certain situations where there is material damage or a material…

“Caveat Emptor” – AKA: Buyer Beware – in Fine Print

real estate agreement with an "as is" caveat emptor being slid across a table.

What Does “Caveat Emptor” Mean in a Real Estate Agreement? A common question I receive from purchasers is regarding who is responsible for the repair costs if something is not working on the date of closing. For example, an appliance, the heating/air conditioning system, the electrical system, or the roof. Buyers ultimately want to know…

Common Pitfalls of Flipping New Condominium Home Agreement Assignments

realtor and sellers looking over a new home agreement assignments during a condo flip.

In my earlier blog, I discussed the importance of determining whether you need your builder’s consent to assign/flip your agreement of purchase and sale. Usually you do. Once you have resolved that issue, you will enter into an agreement of purchase and sale with your purchaser regarding the flip. In that flip agreement, your purchaser…

Consider This When Flipping Your New Condo in Toronto

cartoon of realtor flipping a condo in a pan.

When I am asked by a client if they can flip their new condominium/new home agreement of purchase and sale, I always respond that the first place to start is the agreement of purchase and sale itself. Unless the agreement of purchase and sale prohibits flips, then the purchaser is free to flip their agreement…