Agreement of Purchase and Sale ~ Real Estate Education Series
The course on the “The Agreement of Purchase and Sale: A Detailed Analysis ” will run on 3 November 2014, from 1:30 pm to 4:30 pm at 186 Robert Speck Parkway, Mississauga, Ontario L4Z 3G1.
This is the basic document that you use every day of the week in your business. Have you ever read the fine print in detail? Do you know what it means? Could you explain it to your clients?
Does the standard form agreement contain a true condition precedent? How do you handle chattels, fixtures and rentals? When does the seller have to vacate? What about a tenant? What time is acceptance? How do you count the days? What time is the deposit due? What happens if the deposit is not paid? Who gets the deposit if the deal doesn’t close? Who signs the spousal consent? Yes, clearly the spouse, but does that include “common-law”? How may requisition dates are included in the agreement? Do you explain the use of the seal?
What is the bargain when it comes to “title”. Does the buyer get “good title”? Must the buyer accept title insurance? Do the mortgages have to be discharged before closing? What happens if there is no “witness”? Can you negotiate by e-mail?
What is the difference between Conditions. Warranties and Representations? Will this affect your potential liability? Should the seller be present at the home inspection?
What is the purpose of the deposit? How much should it be? When should requisitions be due? Are you liable for picking the wrong dates?
There are two different definitions of “title” and two different definitions of “spouse”. If asked, can you explain the difference?
If you are up to date with the latest decisions of the Supreme Court of Canada, and regularly review your practices, then you probably know all the answers. If not, let’s talk about these questions on the 3rd.
Limited enrolment. To reserve a seat, please email me at BRMadigan@rogers.com