Why clear contractual obligations and practical remedies matter after a real estate agreement becomes firm. Real estate transactions do not always proceed as anticipated. Even after an Agreement of Purchase and Sale becomes firm, unexpected circumstances can arise that expose buyers and sellers to financial and contractual risks. A repair ...
Continue ReadingReal estate negotiation sounds easy on paper, but in practice even small mistakes can sink deals. You need to understand psychology, strategy, and a shifting market to get the best outcome. Not easy! Negotiating is an art, a skill and a science. In the world of real estate, understanding how ...
Continue ReadingCongrats, homeowner! You’re ready to sell your house, and you’ve picked a real estate agent you trust to get the job done. That’s a big step toward your end goal. But before you can put your home on the market and show it off to the world, you need to ...
Continue ReadingWhy the laws governing marriage, property ownership and real estate transactions may be different from what you expect. Canada is home to people from many different countries, cultures and legal traditions. Many have purchased homes, owned investment properties or operated businesses in other parts of the world before establishing themselves ...
Continue ReadingEnvironmental concerns can arise in almost any type of real estate transaction. They are not limited to old industrial sites or obviously contaminated properties. A residential buyer may encounter radon, mould, older insulation, a buried fuel tank or questionable plumbing. A commercial purchaser may need to consider historical land uses, ...
Continue ReadingMost homebuyers naturally focus on what they can see. They notice the kitchen, bathrooms, flooring, natural light, lot, neighbourhood and general condition of the property. A freshly renovated home can be particularly appealing because much of the work appears to have already been completed. Occasionally, however, attractive cosmetic improvements can ...
Continue ReadingWhy insurance coverage should not be confused with property due diligence. Title insurance has become a familiar part of purchasing real estate in Ontario. For many residential buyers, it is introduced during the closing process by their lawyer, often as a relatively modest expense compared with the overall cost of ...
Continue ReadingReal estate transactions involve a remarkable amount of information. Conversations occur between clients, real estate professionals, lawyers, lenders, inspectors, contractors, property managers, accountants, municipal departments and other participants, while decisions are being made about financing, conditions, repairs, timelines, property information, negotiations and contractual obligations. Most of those discussions occur while ...
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