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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Another Use for Form 801

July 23, 2016 - Updated: July 23, 2016

Another Use for an 801

 

A year has gone by since this document was introduced. It was originally intended to be an Offer Document Summary as contemplated by Bill 55, the anti-phantom offers legislation.

 

OREA decided to go slightly beyond that and added a few items which were not required by the legislation.

 

Be that as it may, the real estate community started using the 801 Form for all kinds of things. Listing agents demanded it with Offers, they required it to be sent along for Offer registrations. They wanted it emailed in advance. They wanted additional copies with presentation. They placed it on the listing, and set it out in "broker's remarks". Sometimes, it was placed in the "description of the property".

 

Then, the Buyers ag'ents got involved. They used it to register Offers. They wanted it signed by the Sellers as evidence that their Offers had been presented. They wanted to see copies of the 801's by other prospective Buyers to confirm the number of bidders.

 

All of those matters were incorrect, and not envisioned by the legislation. In fact, there’s actually no such thing as “registration” of an Offer in the first place.

 

So, here are two additional uses for the 801:

 

1)    Order Pizza – just flip over the 801 Form, and on the back write “large, pepperoni, mushrooms, double cheese” and hand it to the cashier. In about 15 minutes, you should have your order.

 

2)    Desk support – if you have a wobbly desk, take several 801’s, fold them several times and place them under the leg of the desk. If there is still a problem, fold them again, and again until the desk is stable.

 

In my view, 801’s can be used for just about everything!

 

 

Brian Madigan LL.B., Broker

www.iSourceRealEstate.com


Tagged with: form 801 orea offer summary document alternative document retention ontario
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Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

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