Sentences with phrase «clauses of real estate contracts»

After that, we'll look at how properties are assessed for taxation, before reviewing the clauses of real estate contracts such as listings and sale agreements.

Not exact matches

Definition: A home inspection contingency is a clause written into a real estate contract that gives the buyer the right to have the house inspected by a professional inspector within a certain period of time.

After selling their west side Vancouver home, the Rappaport's learned that a simple clause in their Agreement of Purchase and Sale real estate contract legally allowed the initial buyer to resell their home before the final closing date.

As of May 16, the government requires contracts prepared by real estate licensees to include clauses stating that the contract can not be assigned without the written consent of the seller, and that any profit from an assignment goes to the initial seller.

What ethical, honest and knowledgeable real estate listing sales person or brokerage would not have been already using a clause of this nature in their own sellers contracts for decades in BC?

We fell afoul of a clause in our real estate board's listing contract.

The Vast majority of attacks coming at the majority of all MLS systems memberships come from the minority (under 3 % as determined in our the last national survey) and are rooted in clauses contained in the Listing Agreements contract portion, that no longer reflect how the practice of real estate is now being facilitated by the minority.

If organized real estate wants to make a better consumer experience then it should raise the bar and eliminate the Realtors who can't spell or write a simple intelligent clause in a contract — except organized real estate is rewarded for having more members, so it will spend its budget defending the reputation of Realtors.

The «standard form» Exclusive Buyer's Agency Contract available through real estate boards states in clause 4B that «Prior to the Buyer making an offer to purchase a property, the Buyer's Brokerage will advise the Buyer of the total amount of remuneration offered by the seller and the listing brokerage to be paid to the Buyer's Brokerage for assisting in obtaining a buyer for that property.»

Shepherd Real Estate v. Ferguson (204 A.D. 2d 392) judgment granting defendant's motion for summary judgment and dismissing complaint affirmed; broker failed to produce buyer ready, willing and able; buyer and seller were unable to meet agreement on inclusion of clause in contract (regarding unlimited access to property prior to closing).

Namazi Real Estate Corp. v. Johnson (243 A.D. 2d 396)-- broker's motion for summary judgment denied and defendant's cross-motion for summary judgment dismissing the complaint affirmed; broker failed to establish they produced a buyer ready, willing and able to purchase the property at terms set by sellers; parties were not in agreement as to the closing date, the clause entitling defendants to terminate the contract unconditionally, and the date when the defendants would vacate the premises; broker failed to establish that sellers wrongfully or arbitrarily prevented completion of a deal.

Venezia v. Coldwell Banker Sammis Realty (270 A.D. 2d 480)- buyer's action against seller for fraud for failing to disclose toxic contamination of untapped ground water beneath the property and surrounding area dismissed; cause of action against brokers severed; buyer's claim of fraud against seller was extinguished upon closing as a result of specific merger clause in contract of sale; moreover, buyer's failed to allege that seller made any representation about the condition of the land's subsurface or groundwater and did not allege that seller engaged in concealment or otherwise deceitful conduct designed to prevent the discovery of such contamination; seller is under no duty to speak; salesperson of one of the defendant real estate agencies represented to buyer that the house was in good condition

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

After closing on a mixed - use property, plaintiff Reid Crumpton («Buyer») discovered that a five year non-compete clause in an addendum to the real estate sales contract had been excluded from some signed copies of the contract.

The British Columbia Real Estate Association has developed the following clause to use in Contracts of Purchase and Sale when buyers are foreign entities or taxable trustees.

The prices of properties can rise or plummet in a matter of days, and the contracts that come with real estate transactions are very complicated and consist of a considerable amount of clauses.

If the «standard form» Contract of Purchase and Sale is used for a trade related to a development unit that is subject to the provisions of the Real Estate Development Marketing Act, the phrase in the deposit clause shown in scenarios 1 and 2 above that states the deposit will be ``... held in trust in accordance with the provisions of the Real Estate Services Act» essentially means the deposit must be held in accordance with the Real Estate Development Marketing Act.

I state two things in the special clauses section of the contract: 1) I'm a licensed real estate broker and don't represent the seller in any manner, and 2) my offer doesn't reflect the property's market value.

The real estate agent and vendor couldn't see why any of those things were an issue, but we finally managed to get appropriate clauses inserted into the contract.