Brian Madigan LL.B., Broker
BRMadigan@iSourceRealEstate.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300
Toll Free: 1-888-507-0817

 

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Posts filed under: Contracts

Seller’s Release from Prior Agreement Gives Too Much Power to the First Buyer

July 7, 2017 - Updated: July 7, 2017Contracts

Seller’s Release from Prior Agreement Gives Too Much Power to the First Buyer Sometimes, there is more than one way to deal with a ...

Tagged with: mutual release condition precedent form negotiations orea ontario law

Early Contract Remedies in a Market on the Move

May 22, 2017 - Updated: May 22, 2017Contracts

Early Contract Remedies in a Market on the Move At the present time we have a rather strange situation. The market started to accelerate ...

Tagged with: anticipatory breach contract options ontario law

Lawyer's approval Clause Reviewed in Detail

January 8, 2017 - Updated: January 8, 2017Contracts

Lawyer’s Approval Clause Reviewed Frequently, you may require a Lawyer’s Approval Clause. Quite commonly, they may be writ ...

Tagged with: lawyers approval condition subsequent review ontario law

Title Search Date: When Should it Be?

January 2, 2017 - Updated: January 4, 2017Contracts

Title Search Date: TIME Question: What date should be inserted into the Agreement of Purchase and Sale for the Title Search ...

Tagged with: title search time when ontario law

Creating the Revocable Offer

November 16, 2016 - Updated: November 16, 2016Contracts

Creating the Revocable Offer Working Twice as hard on Bidding War Night From time to time, particularly in heated real estat ...

Tagged with: offer acceptance revocable no seal limited time ontario law

Revoking Offers Prior to Acceptance

November 16, 2016 - Updated: November 16, 2016Contracts

Revoking Offers Prior to Acceptance Can an Offer be Revoked? This seems to be a question that arises rather frequently. Let& ...

Tagged with: withdraw offer revoke offer acceptance consideration seal irrevocable ontario law

Vacant Possession In Ontario - Uncertain Timing

October 23, 2016 - Updated: October 23, 2016Contracts

Vacant Possession - Complete Uncertainty In Ontario The standard form Agreement of Purchase and Sale provides that the completion will ...

Tagged with: contract. completion time vacant possession time closing day lawyers registry office ontario law

Agents Should Confirm Client's Ability to Speak English

October 3, 2016 - Updated: October 3, 2016Contracts

Agents Need to Confirm the Language of Communication This advice arises from a recent trial and the Judge’s comments regarding t ...

Tagged with: non est factum not understand no contract not speak english ontario law

What Do You Mean By Business Days

September 19, 2016 - Updated: November 11, 2016Contracts

What Do You Mean By “Business Days”? Now that everyone is working “24/7”, the term “business days” ...

Tagged with: business day banking day calendar day meaning uncertainty ontario law

Adding a Seller to an Agreement

August 30, 2016 - Updated: August 30, 2016Contracts

Adding a Seller to an Agreement This is much more unusual than adding a Buyer. But, it does happen on occasion. The Seller / Owner of ...

Tagged with: agreement adding seller omitted by error mistake rectification amendment new agreement ontario law

Adding or Substituting a New Buyer to an Agreement

July 21, 2016 - Updated: July 22, 2016Contracts

Adding or Substituting a New Buyer to an Agreement For some reason, this issue seems to create some complications. How do you add a n ...

Tagged with: new buyer add to contract delete from contract substitute replace amend ontario law

What is the Purpose of a Witness?

July 20, 2016 - Updated: July 20, 2016Contracts

What is the Purpose of a Witness? Just last year the rules were changed when it came to real estate contracts. Electronic signatures w ...

Tagged with: contracts digital signatures no witness enforceable legality electronic commerce act ontario law

Lawyer's Approval: What Clause to Use?

June 21, 2016 - Updated: June 21, 2016Contracts

Lawyer’s Approval: What Clause to Use? You have already decided to include in an Offer “subject to lawyer’s approva ...

Tagged with: lawyer approval solicitors approval clauses choices ontario law

Does the Seller Need a Mutual Release if the Deal Does not

May 12, 2016 - Updated: May 12, 2016Contracts

Does the Seller Need a Mutual Release if the Deal Does not “Firm Up”? Bob submits an Offer on Bill’s property for $9 ...

Tagged with: conditional offer not firm up next step mutual release ontario law

Adding or Substituting Parties to an Agreement

April 28, 2016 - Updated: April 28, 2016Contracts

Adding or Substituting Parties to an Agreement Agreements often start out with the wrong people involved, or not enough of the right p ...

Tagged with: parties adding subtracting removing substituting contracts ontario law

Can the Buyer Take her Offer Back? (Part 2)

April 21, 2016 - Updated: April 21, 2016Contracts

Can the Buyer Take Back Her Offer? (Part 2) This is actually a question which arises all the time. Some people will say “yes&rdq ...

Tagged with: offer acceptance delivery irrevocable seal contract ontario law

Can the Buyer Take Back Her Offer?

April 20, 2016 - Updated: April 20, 2016Contracts

Can the Buyer Take Back Her Offer? This is actually a question which arises all the time. Some people will say “yes” and o ...

Tagged with: offer delivery escrow revoke rescind withdraw take back ontario law

Who is Responsible for the Stolen Air Conditioner?

April 18, 2016 - Updated: April 18, 2016Contracts

Who is Responsible for the Stolen Air Conditioner? Sorry about that. There was no central air-conditioning in the first place. It was ...

Tagged with: contracts torts liability seller buyers real estate agents ontario law

HST Clause in the Agreement of Purchase and Sale

April 14, 2016 - Updated: April 14, 2016Contracts

HST Clause in the Agreement of Purchase and Sale From time to time, the HST clause in the Agreement of Purchase and Sale is filled out ...

Tagged with: hst clause agreement of purchase and sale orea

The Agreement is About Schedules

April 13, 2016 - Updated: April 13, 2016Contracts

The Agreement is About Schedules The standard form OREA Agreement of Purchase and Sale is all about Schedules. Here’s what the 2 ...

Tagged with: agreement of purchase and sale schedules purpose role orea form

Rental Items Clause in the Agreement of Purchase and Sale

April 12, 2016 - Updated: April 12, 2016Contracts

Rental Items Clause in the Agreement of Purchase and Sale The issue of Rental Items has now become quite important in an Agreement of ...

Tagged with: rental items chattels fixtures agreement ontario law

Fixtures Clause in the Agreement of Purchase and Sale

April 12, 2016 - Updated: April 12, 2016Contracts

Fixtures Clause in the Agreement of Purchase and Sale The “Fixtures” clause in the standard form OREA Agreement of Purchas ...

Tagged with: fixtures clause 5 agreement of purchase and sale orea ontario law

Agreement Date or Just an Offer Date?

April 11, 2016 - Updated: April 11, 2016Contracts

Agreement Date or Just an Offer Date? There is a common misconception concerning the Agreement date. Sometimes, it’s a ...

Tagged with: offer date acceptance date agreement date orea 100

No Deposit - Seller's Options!

April 10, 2016 - Updated: April 10, 2016Contracts

No Deposit: The Seller’s Options! What can the Seller do if the deposit is late or doesn’t arrive at all? There ...

Tagged with: deposit none late breach of contract essential term fundamental term terminate contract ontario law

Issues with the Time of Completion

April 9, 2016 - Updated: April 10, 2016Contracts

Issues with the Time of Completion The closing date and time should be clear and concise and not pose any particular challenges. ...

Tagged with: time completion closing escrow registry office tenants ontario law

Three Distinct Concepts Used for Time Deadines

April 9, 2016 - Updated: April 9, 2016Contracts

Three Distinct Concepts for Time Deadlines It is somewhat interesting that the standard Form OREA Agreement of Purchase and Sale makes ...

Tagged with: contract deadlines time within until not later than ontario law

Irrevocability Clause - Resolving the Ambiguity

April 8, 2016 - Updated: April 8, 2016Contracts

Irrevocability Clause –Ambiguity Resolution One of the very basic steps in the Offer/Acceptance interplay is the irrevocability ...

Tagged with: irrevocability clause agreement orea when due ontario law

Deposits - Selecting the Right Clauses

April 7, 2016 - Updated: April 8, 2016Contracts

Payment of the Deposit and Selecting the Correct Clause From time to time agents run into problems with the deposit clause in the stan ...

Tagged with: deposit clause orea agreement certified cheque interest amount stakeholder ontario law

Understanding the Delivery of Notices under the Agreement of Purchase and Sale

April 7, 2016 - Updated: August 24, 2016Contracts

Understanding the Delivery of Notices under the Agreement of Purchase and Sale Sometimes, agents can run into difficulty giving or rec ...

Tagged with: agreement form orea notices delivery ontario law

Contract Acceptance Requires a Pen and a Phone

April 6, 2016 - Updated: April 6, 2016Contracts

Contract Acceptance Requires a Pen and a Phone When we are considering the acceptance of an Offer, there are two steps: ...

Tagged with: acceptance execution communication contract confirmation offer orea ontario law

No Deposit Paid on Conditional Deal - Seller's Options

March 31, 2016 - Updated: August 3, 2016Contracts

Seller’s Options with a Failed Deposit Cheque in a Conditional Deal On occasion, Buyers’ agents are rushed and they just d ...

Tagged with: no deposit paid breach of contract termination affirmation ontario law

Cross-out the Waiver Option in a Financing Condition (Best Practices)

February 7, 2016 - Updated: February 27, 2016Contracts

Cross-out the Waiver Option in a Financing Condition (Best Practices) There are many real estate practitioners who seem to think that ...

Tagged with: contract waiver notice of fulfillment nof condition true precedent subsequent ontario law

Are Additional Late Charges, Bonus Interest, and Default fees Legal in a Mortgage?

February 5, 2016 - Updated: February 29, 2016Contracts

Mortgage Defaults and Additional Charges Increasingly, we see pumped up interest charges, arrears payments, late charges and so on inc ...

Tagged with: late charges. bonus interest default fees mortgage illegal interest act ontario law

Electronic Commerce Act Contract Reference (Required or Not?)

January 30, 2016 - Updated: January 30, 2016Contracts

Electronic Commerce Act Contract Reference (Required or Not?) The following is wording that you will find in numerous real estate rela ...

Tagged with: e-signatures authorized enabled consent agreement to use permission electronic commerce act ontario law real estate

Does a Waiver or Notice of Fulfillment Affect a Central Vacuum Warranty?

January 27, 2016 - Updated: January 28, 2016Contracts

Central Vacuum System in Disrepair (Remedies #2) Question: An Agreement of Purchase and Sale contains the following warranty ...

Tagged with: chattels fixtures central vacuum warranty waiver nof notice of fulfillment ontario law

Notices of Fulfillment and Waivers

January 25, 2016 - Updated: January 25, 2016Contracts

Waivers and Notices of Fulfillments The Notice of Fulfillment was created specifically to firm up a transaction that included a True C ...

Tagged with: notice fulfillment nof waiver condition agreement firm up deal ontario law

Protecting the Buyer From Concealed Stigmas of Deaths

January 24, 2016 - Updated: January 31, 2016Contracts

Disclosure of Unnatural Deaths and Stigmas (Buyer’s Protection) It is not uncommon for and elderly person to live alone in their ...

Tagged with: death stigma suicide. violence contract. terms representations warranties conditions ontario law

Legally Justifying Bad Paperwork

July 23, 2015 - Updated: July 25, 2015Contracts

The Legal Justification for Bad Paperwork We looked at the issue of reviving old agreements: http://www.isourcerealestate.co ...

Tagged with: novation promissory estoppel contracts bad paperwork conditions null and void ontario law

Reviving

July 23, 2015 - Updated: March 16, 2016Contracts

Can You Revive an Old Agreement? The answer is “no”, but a lot of people don’t believe it. Let’s ass ...

Tagged with: agreeement. conditions expire not fulfilled null and void new agreement

Power of Attorney Form

July 8, 2015 - Updated: August 19, 2015Contracts

Sometimes, it is helpful to use a Power of Attorney Form. Here is an example: Continuing Power of Attorney for Property ...

Tagged with: power of attorney form ontario

Counter Offer ~ Difficulties with Standard Form

July 3, 2015 - Updated: July 3, 2015Contracts

Counter Offer ~ OREA Form 107 When considering the number of standard forms in use in Ontario as prepared by the Ontario Real Estate a ...

Tagged with: counter-offer form orea problems with form ontario law

Hundreds of Real Estate Agreements are at RISK!

June 29, 2015 - Updated: June 29, 2015Contracts

Real Estate Agreements - at RISK! Actually, it could be thousands. But, for the moment let’s concentrate upon the problem. ...

Tagged with: contracts risk unenforceable bill 55 digital offers e-signatures ontario law

E-Signatures Authorized for Real Estate Transactions (Ontario)

June 28, 2015 - Updated: June 28, 2015Contracts

Electronic Signatures for Real Estate Transactions in Ontario These signatures will be permitted in Ontario effective 1 July 2015. Cer ...

Tagged with: e-signatures electronic. signatures. e-commerce real estate ontario law

Good Faith and Honesty Start with the Contract (Bhasin v. Hrynew)

December 8, 2014Contracts

Commencement of Good Faith and Honesty Doctrines When does good faith and honesty start when it comes to contracts? Well, th ...

Tagged with: good faith honesty common law organizing principles supreme court of canada bhasin v. hrynew

Good Faith and Honesty now Required for Contracts (Supreme Court of Canada)

November 24, 2014 - Updated: November 24, 2014Contracts

The Supreme Court of Canada just changed every contract in Canada. Now, all contracts include: 1) an obligation of good faith contract ...

Tagged with: contracts supreme court of canada bhasin good faith honesty new law change common law

Classification of Contractual Terms

February 3, 2014 - Updated: February 3, 2014Contracts

There are three types of terms in an agreement: conditions, warranties, and representations. With conditio ...

Tagged with: contract terms conditions warranties representations ontario law

Fraser-Reid ~ Liability of Builder based upon Express Warranty

December 4, 2013 - Updated: December 4, 2013Contracts

The case of Fraser-Reid v. Droumtsekas in the Supreme Court of Canada (1980) dealt with several important legal principles including, caveat emp ...

Tagged with: contract express warrnty liability ontario law

Escrow in Real Estate Transactions

August 17, 2013 - Updated: August 17, 2013Contracts

It is very important to know and understand the use of the term “escrow” in real estate transactions. Here’s the bas ...

Tagged with: escrow contracts trust release transfer possession title ontario law

Implementation of Consequences ~ Contract Remedies in Court

August 15, 2013 - Updated: August 15, 2013Contracts

That’s what you get when you sue on a contract. The Court doesn’t really do anything else, that’s it. Often, it is t ...

Tagged with: contracts breach fulfillment damages role of courts ontario

Deposit Failure and the Better Contract Consequence

August 14, 2013 - Updated: August 14, 2013Contracts

Oliver Wendell Holmes made it quite clear that there are two reasonable options with every contract: fulfill it, as required, or ...

Tagged with: deposit not paid breach consequence right to terminate ontario law

Commission Entitlement in Ontario Real Estate Transactions

July 22, 2013 - Updated: July 22, 2013Contracts

If the deal doesn’t close, does the vendor have to pay a commission? If, the deal didn’t close, and it was the purchaser's fault ...

Tagged with: contract commission listing agreement ontario law

Offers, Acceptance and the Irrevocable Period

May 6, 2013 - Updated: May 6, 2013Contracts

Offers, Acceptance and the Irrevocable Period Sometimes these matters become confusing, but, they really shouldn’t be. After all ...

Tagged with: contracts offer acceptance irrevocable

Commission Sharing Agreements

April 23, 2013 - Updated: April 23, 2013Contracts

Real estate agents often work in small teams, or align themselves with others for specific projects. Here’s an example of an arr ...

Tagged with: commission sharing agents consulting contracts

Recommendations -Informed Consent Disclosure

April 22, 2013 - Updated: April 22, 2013Contracts

Referral Agreement (Informed Consent) 1 May 2013 Brian Madigan, Referral Agent _____________, Recipient ...

Tagged with: disclosure contracts informed consent referral agreements acknowledgement

Can You Do an End Run Around the Agent?

March 20, 2013 - Updated: March 20, 2013Contracts

From time to time, a seller will think that the agent didn’t really earn their commission. It may be that a neighbour or friend approaches ...

Tagged with: listing commission entitlement holdover ontario law

Standard Form Renovation Contract

February 19, 2013 - Updated: March 1, 2013Contracts

Below you will find a sample contract which appeared for many years on the CMHC website. It is now no longer available. More recently, CMHC publ ...

Tagged with: contract construction stanadrd form disclaimer article

Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

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