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Tag: agreement of purchase and sale

Tag: agreement of purchase and sale

Describing the Property in your Agreement of Purchase and Sale

The property that is the subject of the Agreement of Purchase and Sale must be identified in the Agreement. The municipal address is the first component...

General Information About Agreements of Purchase and Sale

A contract by nature, the Agreement of Purchase and Sale (“Agreement”) brings with it all the obligations, responsibilities and procedures of contract law. A binding contract...

Mortgage Enforcement: What Can Go Wrong?

Notice of Sale and RequisitionsIf a purchase is made under power of sale, it is necessary to ensure that the vendor is authorized to conduct the...

Understanding Municipal Tax Sales: Legal Challenges

Other Legal Challenges Earlier we have discussed three Municipal Tax Sales clauses, which if applicable, leads to cancellation of sale. Besides cancellation by the treasurer, the...

An Overview of Municipal Tax Sales

As municipal tax sales are not that frequent, it is not uncommon for purchasers to proceed without professional advice. As a consequence, real estate practitioners often...

REAL ESTATE OPTIONS: Is an Option to purchase property marketable on the MLS?

An Option to purchase luxurious real estate is a contract between two parties giving the purchaser the exclusive right (without the obligation) to buy the property....

BUYING A RESIDENTIAL INCOME PROPERTY – A Primer

With the Ontario real estate market demonstrating continued resilience, many people are still putting their confidence in real estate as an investment option across Ontario.  These...

THE NEW HST: What all Home Buyers are Asking!

As part of its provincial budget, the Ontario government chartered a bill on March 26, 2009 that will adopt a single sales tax system tagged as...

The Income Tax Consequences for Selling Real Estate in Canada as a Non-Resident

Under section 116 of the Canadian Income Tax Act, non-resident vendors disposing of certain taxable Canadian property (partially listed below) are to notify the Canada Revenue...

THE ECONOMICS OF THE MORTGAGE INDUSTRY

Real properties (real estate) like buildings, lands, residences are generally acquired by a purchaser through taking a loan. The promise to repay this loan is backed by a...