Ontario

ANOTHER HAPPY SELLER IN THE GANANOQUE AREA

11-20-09

Susan Emo in Kingston/Brockville/Gananoque

view my blog
Office: (613) 382-2211

Mobile: (613) 331-4885
Secondary: (888) 382-4303

SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD

~Gananoque, Ontario

74 Quabbin Road, Mallorytown, Ontario

As of 3pm today, another happy family is able to move on with their lives. The Dad will be deployed to Afghanistan very very soon and it is a great relief for him to know the home is sold and they'll be moving to where he is stationed for the next few weeks. I'm going to miss those sweet little kids!

4 Comments

Warning Clauses in Agreements

11-20-09

Brian Madigan LL.B.

view my blog
Office: (905) 796-8888

Warning Clauses in Agreements

By Brian Madigan

Within the last few years it has become increasingly common for realtors to place warnings within the terms of the agreement of purchase and sale.

Precedents for such clauses abound, and the following is an example:

"The Buyers acknowledge that they have been advised to seek outside professional advice such as lawyers, insurance agents or brokers, title insurance, mortgage consultants, and the Chief Building Inspector for the Regional Municipality of Peel prior to the signing of this offer on the subject property."

The hope and expectation is:

· The Courts will recognize that the realtor is doing his job

· The advice looks like good advice

· If the purchaser were smart, then they would take the realtor's advice

· The realtor has disclaimed responsibility

· The purchaser is now the only one to be blamed for their own actions

First of all, I don't like the warning clause. The agreement of purchase and sale is just no place for that type of discussion. It's not very professional.

If my agent started warning me about things and giving me notices in documents directed to other people, I would be offended, and I know both purchasers and vendors who have been offended by similar clauses.

There are no other similar documents that I have ever seen in legal practice.

Now, if you are a realtor and want to protect yourself, the best way is to write a letter or similar document explaining all the problems. It can be delivered to the client. It's private and confidential, which is specifically what this sort of advice should be.

You can prepare two copies and give both to the client. He keeps the first one. On the bottom of the second one, there is a provision included to the effect that the client acknowledges having received a copy. This one he gives back to you for your file. Or, send it by e-mail or fax and you have "proof" that it was, in fact, given to the client.

A final method, and more formal, particularly if you don't want the client to go ahead, is to have a separate document prepared which is an authorization.

This document will direct you to go ahead with the transaction, notwithstanding your advice to the contrary. That's the practice followed by lawyers, and I think it makes a lot of sense here.

Here is what the Acknowledgement might look like:

"Acknowledgement

To: John Smith, the purchaser

Re: 25 Elgin Street, Mississauga

Authorization and Direction

The purchaser hereby acknowledges having been advised to seek outside professional advice including solicitors, insurance agents or brokers, title insurers, mortgage consultants, and the Chief Building Inspector for the Regional Municipality of Peel prior to the signing of this offer on the subject property.

And more particularly, the purchaser:

· Authorizes and Directs the agent to prepare and submit this Offer without such advice

· Accepts all risks occasioned by reason of the failure to follow such advice

· Releases the agent from all liability arising by reason of such failure

· Indemnifies and agrees to save harmless the agent from any liability arising from such failure

Dated at the City of Mississauga this 20th day of November 2009.

Signatures etc."

As a word of caution, all documents appearing here are intended for review, consideration and discussion. They are not intended to be used in a specific transaction. Readers are requested to seek legal advice if they propose to use a document in practice. The author specifically disclaims all such responsibility, and readers use any such documents at their own risk.

You will of course see the difference. This is a private and confidential document between the agent and the principal (realtor and client). It is not there for all to see, particularly the other side in the proposed transaction.

Courts might be a little concerned about the first approach, and will not permit it to have its intended effect. The second approach is far more professional and is similar to what would be prepared in a law office in a similar situation.

Brian Madigan LL.B., Broker is an author and commentator on real estate matters,

Royal LePage Innovators Realty Brokerage

www.OntarioRealEstateSource.com

0 Comments

Toronto's Museum Makes Top Ten List

11-20-09

Brian Madigan LL.B.

view my blog
Office: (905) 796-8888

Toronto's Museum Makes Top Ten List

By Brian Madigan LL.B.

But, not in a good way!

It's #8 on the list of the world's ugliest buildings as selected by the members and editors at VirtualTourist.com.

"Many of these buildings don't have the warmth of an ice cube while others don't even seem completed. Either way, they make for very interesting conversation," said general manager Giampiero Ambrosi.

This is what he said specifically about the ROM Crystal:

"Michael Lee-Chin Crystal, Royal Ontario Museum, Toronto. What I.M. Pei's pyramid is to the Louvre, so is the relatively new Michael Lee-Chin Crystal to the Royal Ontario Museum. While many praise the glass structure, just as many are troubled by the incongruity to the original, more traditional museum that still sits directly beside it."

Brian Madigan LL.B., Broker is an author and commentator on real estate matters, Royal LePage Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

0 Comments

196 Glendon Road, Stratford

11-20-09

RE/MAX Stratford, St. Marys & Woodstock offices

view my blog
Office: (519) 273-2821

MLS:#093322

Price:$395,000

Bedrooms:4

Bathrooms:2.5

Great Location, 4 Bedrooms, 2.5 Baths, Newer Kitchen, Sun Room. Main Floor Family Room With Fireplace. Large Rec Room With Bar. Double Car Garage. Good Landscaping.

RE/MAX a-b Realty Ltd., Brokerage

Each Office Independantly Owned And Operated

88 Wellington Street

Stratford, ON N5A 2L2

Office: 519-273-2821

stratfordhomes.ca

0 Comments

167 St. George Street, Mitchell

11-20-09

RE/MAX Stratford, St. Marys & Woodstock offices

view my blog
Office: (519) 273-2821

MLS:#093324

Price:$162,900

Bedrooms:4

Bathrooms:2

167 George Street, Mitchell

4 Bedroom Home Located On Main Street Offers Ceramic And Hardwood Floors. Large Fenced Backyard Plus Gas Fireplace And Full Basement. There Is A 2 Tired Deck Overlooking Very Spacious Yard Plus Gas Furnace. French Doors To Bright Living Room And 2 Baths. Room To Improve-This Home Could Be A Great Family Home.

RE/MAX a-b Realty Ltd., Brokerage

Each Office Is Independantly Owned And Operated

88 Wellington Street

Stratford,ON N5A 2L2

Office:519-273-2821

stratfordhomes.ca

0 Comments