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

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

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

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…


Know who you are dealing with – the perils of dealing with contractors

Before hiring a real estate lawyer or a building contractor, you must satisfy yourself as to his credentials and track record. This is an easy enough task when it comes to hiring a lawyer. One can contact The Law Society or their friends. Since lawyers are regulated, the Law Society has a discipline department which…


The importance of a lawyer’s review of an Agreement of Purchase & Sale

An Agreement of Purchase and Sale, once signed, and once all of the conditions (for example, financing and home inspection) have been waived or fulfilled is a binding contract between the buyer and seller which cannot be changed unless both parties agree to do so. Usually, if one party wants a change to the Agreement,…


What a Real Estate Lawyer should do when their clients start disputing?

As a real estate lawyer, mitigating disputes amongs clients comes with the job. Recently I was confronted with the following situation: I was retained by a parent and his child to purchase a new condominium unit from a builder. The day before the interim occupancy closing the parent and child had a falling out and…


How To Choose A Good Real Estate Lawyer | 5 Simple Tips

Choosing the right residential Real Estate Lawyer can be a challenging process, especially while being involved in other time consuming tasks when buying or selling a home. I’ve created a 5 step checklist to help any consumer on the market make an educated decision in hiring a lawyer for their residential legal needs. 1. Contact…


Welcome to the official blog of Jay Teichman

Welcome to the brand new and official website for Jay Teichman Law Offices. If you are looking for a trustworthy and experienced real estate lawyer in the Greater Toronto Area, look no further than the Law Office of Jay Teichman. With all of our costs disclosed up front and no hidden terms in our fine…