Buying 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 ReadingRecognizing inconsistencies, asking the right questions and managing uncertainty before it becomes a transaction problem. Real estate transactions depend on information. Buyers and sellers provide details about their circumstances, property ownership, financing, property conditions and expectations. Their real estate representatives use that information to provide advice, prepare agreements, negotiate terms ...
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 ReadingReal estate agreements are meant to do more than record a price and closing date. They are working documents that allocate responsibility, define expectations and help the parties understand how the transaction is supposed to proceed. In many transactions, the standard Agreement of Purchase and Sale provides an effective foundation, ...
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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