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Home Sellers Beware! Not Providing The Correct Square Footage Of The Home You Are Selling May Be Grounds For Rescission Of The Agreement Of Purchase And Sale.

Tuesday Dec 15th, 2020

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A misrepresentation by the seller and real estate agent as to the square footage of a residential property in Stouffville, Ont. resulted in the rescission of the Agreement of Purchase and Sale (APS) and the return of the $50,000 deposit. (Issa v. Wilson, 2020 ONCA 756 [CanLII]).   The plaintiff, a 26-year-old first-time home buyer, wanted a house large enough to live in with his parents and three sisters. He retained the defendant real estate agent to help him find a... [read more]

Ontario, Canada Real Estate Market Activity Is estimated To Increase Again in 2021

Wednesday Dec 2nd, 2020

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ONTARIO According to the RE/MAX broker network in Ontario, market activity across the province is estimated to remain very steady in 2021, with the potential for average sale price increases of between seven and 12 per cent in regions like London (10 per cent), Kitchener-Waterloo (seven per cent), Hamilton-Burlington (seven per cent), Niagara (12 per cent), and Kingston (10 per cent), Cornwall (10 per cent) and Thunder Bay (10 per cent). This is being attributed to high demand and low... [read more]

Tips For Home Buyers

Wednesday Nov 25th, 2020

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Tips For Home Buyers

1. Prepare to Buy   Home buying is an exciting but sometimes complex process. Learn all the ways a REALTOR® can help you succeed with the most important purchase of your life.   Make Sure You’re Ready If you’re thinking of buying a home, you’ve come to the right place. Once you’ve decided you’re ready to buy, this can guide you through the process and I can help take care of the rest. Are you ready? Be sure. Few joys can... [read more]

Court awards buyers $150,000 after seller reneges on house deal

Friday Nov 13th, 2020

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An Agreement of Purchase and Sale is just like any other legal contract: Once duly signed, it is binding and must be honoured according to its terms. If either party fails to do so, the repercussions can be costly.   In a recent case, Datta v. Eze, the seller of a home learned this principle the hard way, after the buyers sued him successfully for breach of the contract they had reached. The agreement listed the seller of the property as Fabian, but to the knowledge of the... [read more]

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