An accepted Agreement of Purchase and Sale is an important milestone in a real estate transaction, but it does not necessarily guarantee that the transaction will ultimately close. Between acceptance and completion, buyers and sellers may still need to satisfy conditions, arrange financing, complete investigations, resolve title matters, meet contractual ...
Continue ReadingUnderstanding the delayed offer presentation process Delayed negotiations, used appropriately, can be a powerful tool when it comes to selling a home. Done right, this tool is a plus for buyers too. So how do you know if delayed negotiations are right for you? First, talk to your real estate ...
Continue ReadingBuying real estate is usually associated with opportunity rather than litigation. Whether someone is purchasing a first home, adding an investment property or acquiring a commercial or industrial facility, the focus is naturally on finding the right property, negotiating acceptable terms and completing the transaction successfully. Fortunately, the overwhelming majority ...
Continue ReadingWell-structured lease and transaction clauses do far more than simply “add legal language” to an agreement. Properly drafted clauses help define expectations, allocate risk, establish operational procedures, reduce misunderstandings, and improve enforceability throughout a transaction or tenancy. From a professional real estate advisory perspective, clause drafting should be approached as ...
Continue ReadingWhether leasing a residential property, negotiating a commercial tenancy, or managing an investment portfolio, the lease agreement serves as the foundation of the landlord-tenant relationship. It establishes expectations, allocates responsibilities, and provides the framework that guides the tenancy long after the lease has been signed. Most lease disputes do ...
Continue ReadingThe Federal Budget for 2022 has made amendments to Part IX of the Excise Tax Act (“ETA”). Effective May 7, 2022, all assignment sales in respect of newly constructed or substantially renovated single unit residential complexes or residential condominium units are taxable. For clarity, with respect to residential housing transactions, ...
Continue ReadingA real estate transaction is often discussed in terms of price, but price is only one part of the agreement. The structure surrounding that price can be equally important. Conditions, financing, deposits, timing, due diligence, representations, repair obligations, occupancy arrangements and closing requirements all determine how the transaction actually operates. ...
Continue ReadingCommercial real estate can look attractive very quickly. A property may appear well occupied, the income may seem strong, the cap rate may compare favourably with other opportunities and the location may suggest long-term upside. Those are all reasonable reasons to become interested in a property, but they are only ...
Continue ReadingAssignment sales can create opportunities for both buyers and sellers, particularly in pre-construction condominium and investment transactions. They can also create risks that are easy to underestimate because the transaction may initially look similar to an ordinary resale. The difference is that an assignment buyer is usually not buying a ...
Continue ReadingConditional clauses are one of the most important risk-management tools available in an Ontario real estate transaction, yet they can easily receive less attention than price, closing date or offer timing. In a competitive market, those visible terms often dominate the discussion because they appear to determine whether an offer ...
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