Agreement of Purchase and Sale: A Detailed Analysis
This program deals with the standard form agreement on a clause by clause, line by line and word by word basis.
This is the most important document that the agent uses, and consequently, every agent needs to know just exactly what the document means and intends. The practitioner must recognize the significance of changes and alterations to the standard form agreement. The agent needs to know what changes may be required to protect their clients’ best interests.
Each of the paragraphs are reviewed and explained in detail. The course material offers ease of reference to issues in the future.
Matters dealing with the proper witnessing and authentication of documents are covered. The issue of the execution of the spousal consent is considered together with the increased obligations of the agent.
The contract is considered in the context of the law dealing with misrepresentations both in contract and tort law. The remedies available outside of contract and the imposition of liability upon the real estate practitioner are reviewed.
Emphasis is placed upon good practice management and the avoidance of liability.
Attendees should know the answer to the following questions:
- Does Agreement contain any True Conditions Precedent?
- How many requisition dates in agreement?
- Is there a Duty to explain the use of the seal?
- Non-titled Spouse. Is the Consent Informed or not?
- Must a buyer have a lawyer?
- Must the seller have a lawyer?
- Is the property properly described on page 1?
- Is there a difference between real estate and real property?
- What time does the transaction close?
- When does the seller have to vacate?
- Is email negotiating permitted?
- What happens if the deposit is not paid?
- What if the dining room light fixture is not mentioned? Is it included?
- What if the buyer intends to change the use?
- Does the buyer bargain for “good title”?
- Does the buyer have to accept easements?
- Must the buyer accept title insurance in lieu of a title defect?
- Must mortgages be discharged prior to closing?
- Should SPIS be attached to agreement?
- What does the entire agreement clause mean?
- What happens if one of the agreements is not witnessed?
- Is an email signature legal?
- Do you want to have a completed Acknowledgement from the other party?
- Who should sign the Confirmation of Acceptance?
- What is acceptance?
- When does the contract begin?
- How do you count the days?
- When is the deposit due?
- When are the conditions due?
- What happens if the deposit is not paid?
- Do you require a Mutual Release to re-sell the property?
The above issues will be raised and discussed in the presentation. Attendees are encouraged to raise additional issues.
Location: 96 Rexdale Boulevard
Time: 1:30 pm to 4:30 pm
If you are interested in attending, please email me through here.
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