Contracts & Agreements

An Alberta seller provides a property condition disclosure statement (PCDS) that states the basement has never had water infiltration. After completion, the buyer discovers evidence of long-standing water damage that was concealed. What is the buyer's strongest legal argument?

What is the rescission fee a buyer must pay to the seller when exercising the Homebuyer Rescission Period right in BC?

A seller in BC provides a Property Disclosure Statement that fails to disclose a known latent defect. After completion, the buyer discovers the defect. What is the buyer's most likely legal recourse?

A seller in Alberta fails to disclose a known latent defect in the property. What is the seller's potential liability?

A buyer and seller in Alberta have a firm purchase contract, but the buyer discovers before completion that the seller has accepted a higher offer from another party. What legal remedy is available to the buyer?

Under the AREA purchase contract, who is typically responsible for providing the Real Property Report (RPR) with municipal compliance?

A seller receives two offers simultaneously on their Alberta property. What is the seller's obligation?

What happens to the deposit if a buyer fails to complete an Alberta purchase contract without a valid reason?

A buyer submits an offer on an Alberta property with a condition for financing approval within 5 business days. On the 4th day, the buyer decides they no longer want the property but have received financing approval. Can the buyer use the financing condition to exit the contract?

What is the purpose of a Real Property Report (RPR) in an Alberta real estate transaction?

In an Alberta purchase contract, what is a 'condition' (also called a 'subject clause')?

In an Alberta purchase, the buyer's offer is conditional on a home inspection satisfactory to the buyer in the buyer's sole discretion. The inspection finds only minor cosmetic issues, but after honestly reviewing the report the buyer is not satisfied. Can the buyer decline to waive the condition and end the contract?

What is the standard form used for most residential purchase transactions in Alberta?

A buyer in BC wants to assign their pre-sale contract for a new development condo to a third party. Which statement is correct?

In an AREA purchase contract, what does 'completion day' refer to?

In an Alberta transaction, the buyer's offer includes an 'escape clause' (time clause). What is the purpose of this clause?

In BC's standard Contract of Purchase and Sale, the 'possession date' is best described as:

Under REDMA, a buyer signs a pre-sale purchase agreement and, the same day, signs the developer's receipt acknowledging they had the opportunity to read the disclosure statement. What rescission right does the buyer have?

When a buyer includes a 'subject to financing' clause in a BC Contract of Purchase and Sale, what happens if the buyer fails to remove the subject by the specified deadline?

Which of the following transactions is EXEMPT from BC's Homebuyer Rescission Period?

In Ontario, under what circumstances can a real estate salesperson modify the terms of a signed Agreement of Purchase and Sale without obtaining new signatures from all parties?

A seller receives two offers on the same property. The first offer is conditional on financing, and the second is unconditional but for a lower price. What is the seller's best legal option?

Under Alberta's Condominium Property Act, a purchaser's lawyer makes a written request to a condominium corporation for a certificate about a unit's contributions. What must the corporation provide, and by when?

In Ontario, what is the significance of the 'irrevocable' period in an Agreement of Purchase and Sale?

A seller receives Offer A for $500,000 with no conditions and Offer B for $520,000 with a home inspection condition, open until 10 p.m. At 6 p.m. the seller accepts Offer A and returns it to that buyer. Buyer B's agent asks what legal standing Offer B now has. What is the correct reply?

In Ontario, what is the significance of the 'requisition date' in an Agreement of Purchase and Sale?

A seller receives two competing offers on the same day. The first offer has no conditions, and the second offer is conditional on financing and home inspection. How should the seller's agent advise them to proceed?

What is the primary purpose of an Agreement of Purchase and Sale (APS) in a real estate transaction?

In a situation where a seller accepts a conditional offer but later receives a significantly better unconditional offer, what is the legal and ethical approach for the seller's agent?

Under the RECA Rules, when a licensee receives a signed offer or acceptance, the licensee must give true copies to the parties in a timely manner. What is the likely consequence if a licensee fails to do so?

In British Columbia, if a listing agent presents an offer to their seller client that contains an unusual clause they don't understand, what is their professional obligation?

An Ontario Agreement of Purchase and Sale makes time of the essence and allows time limits to be extended only by written agreement of the seller and buyer or their lawyers. It also says that if the seller is unable or unwilling to remove a valid title objection that the buyer will not waive, the agreement is at an end and the deposit is returned. The buyer's lawyer delivers a valid title requisition on time, and the day before closing the seller's lawyer admits the defect cannot be cleared by then. Which statement is correct?

A seller receives two offers on the same day. The first offer is conditional on financing, and the second offer is firm but for a lower price. Which statement about the seller's options is correct?

What is the primary purpose of an Agreement of Purchase and Sale (APS) in Canadian real estate transactions?

A seller receives two offers on the same day: Offer A at $500,000 with no conditions, open until 9 p.m., and Offer B at $520,000 with a financing condition, open until 11 p.m. At 8 p.m. the seller signs Offer A and returns it to that buyer. What happens to Offer B?

Under what circumstances can a seller legally refuse to leave chattels that were specifically included in the Agreement of Purchase and Sale?

A seller accepts a conditional offer but later receives a higher unconditional offer. The seller wants to accept the second offer. Under typical Agreement of Purchase and Sale terms, what is the seller's legal position?

A seller receives two offers at the same time: Offer A at $500,000 with no conditions and Offer B at $520,000 with a financing condition, open until midnight. The seller signs and returns Offer A. Is the seller legally required to deliver a written rejection of Offer B?

In Ontario, what remedy does a seller usually have when a buyer defaults on an Agreement of Purchase and Sale?

A buyer who is not a first-time home buyer purchases a single-family home in the City of Toronto for $1,200,000. What is the total land transfer tax payable, Ontario provincial tax plus Toronto municipal land transfer tax?

Under Ontario's Land Transfer Tax system, who is primarily responsible for calculating and remitting the provincial Land Transfer Tax?

A seller accepts an offer conditional on the sale of the buyer's existing home within 60 days, with a 72-hour clause. Three weeks later, the seller receives a better offer. What rights does the seller have under the 72-hour clause?

What happens when a condition in an Agreement of Purchase and Sale is not fulfilled by the specified deadline?

A buyer's offer is conditional on 'the buyer arranging financing satisfactory to the buyer at prevailing rates'. The clause states that the condition is for the buyer's sole benefit and may be waived by the buyer by written notice before the deadline. Rates rise from 5.5% to 6.2%, and the buyer still wants to waive the condition and firm up the deal. The buyer's agent says the buyer cannot waive it because the new rate is not 'satisfactory'. Is the agent right?

An Ontario buyer's offer includes a financing condition stating that unless the buyer gives the seller written notice by 11:59 p.m. on March 15 that the condition is fulfilled, the offer is null and void and the deposit is returned. The buyer's mortgage is declined on March 14, and the buyer first tells the seller on March 17. What is the status of the agreement?

A buyer submits an offer with a financing condition that must be satisfied by 5:00 PM on March 15th. At 6:00 PM on March 15th, the buyer's agent calls to say the financing has been approved. What is the legal status of this offer?

In Ontario, what is the minimum time period that must be provided to a buyer for a home inspection condition in a residential purchase agreement?

A buyer submits an offer with a financing condition that expires at 5:00 PM on Friday. The buyer's lender approves the mortgage at 6:00 PM the same day, but the buyer doesn't waive the condition until Monday morning. What is the legal status of the Agreement of Purchase and Sale?

Which of the following is a condition precedent that must be fulfilled or waived before an Agreement of Purchase and Sale becomes unconditional?

Which of the following conditions in an Agreement of Purchase and Sale would typically be considered a 'condition precedent'?

A buyer submits an offer with a financing condition that must be satisfied by 5:00 PM on March 15th. On March 14th at 3:00 PM, the buyer's mortgage application is denied, and the buyer decides not to seek other financing. What should the buyer do?

When can a conditional offer become unconditional in a real estate transaction?

A buyer's offer has a home inspection condition (7 days) and a financing condition (10 days) requiring a mortgage satisfactory to the buyer in the buyer's sole discretion; unless the buyer gives written notice by day 10 that financing is arranged, the agreement is void. The inspection finds major issues, but the buyer waives the inspection condition on day 6. On day 9 the lender approves the mortgage only if repairs are finished before closing. What is the buyer's position?

A buyer submits an offer with a financing condition that expires at 11:59 PM on Friday. The buyer's mortgage application is approved at 10:30 AM on Saturday. What is the legal status of the offer?

A buyer submits an offer with a financing condition that expires at 5:00 PM on March 15th. The buyer's mortgage is approved on March 16th at 10:00 AM. What is the legal status of the contract?

A buyer submits an offer with a financing condition that must be satisfied within 5 business days. On day 4, the buyer's mortgage application is approved but they want better terms. What can the buyer legally do?

A buyer's offer includes a condition for financing approval within 10 business days. On day 8, the buyer's mortgage application is denied, but they believe they can secure alternative financing. What should the buyer do to maintain their legal position?

A buyer's offer includes the condition 'Subject to buyer obtaining satisfactory financing at an interest rate not to exceed 6.5% per annum.' The buyer's bank approves a mortgage at 6.8% interest. Two days before the financing condition expires, competing lender offers 6.2% financing but requires additional documentation that cannot be completed before the deadline. What is the buyer's strongest legal position?

A buyer includes a home inspection condition in their offer that states 'subject to buyer's approval of a home inspection.' What type of condition is this considered to be?

Which of the following is NOT typically considered a standard condition in an Agreement of Purchase and Sale?

What is the primary purpose of a condition precedent in an Agreement of Purchase and Sale?

In an Agreement of Purchase and Sale, what is the primary purpose of a condition precedent?

A buyer submits an offer with a financing condition that expires at 11:59 PM on Friday. The buyer's mortgage is approved on the following Monday. What is the legal status of this offer?

A buyer's offer includes a condition for home inspection to be completed within 5 business days. On the 4th business day, the buyer's inspector finds significant structural issues but recommends getting a structural engineer's assessment, which cannot be completed before the deadline. What are the buyer's legal options?

A buyer's offer contains a financing condition that expires on Friday at 6:00 PM. On Thursday, the buyer's mortgage application is denied and no other lender will approve the loan. What is the buyer's best course of action?

In an Agreement of Purchase and Sale, what happens when a buyer fails to satisfy a financing condition by the specified deadline?

A buyer submits an offer with a condition to arrange financing at 5.5% interest rate within 10 business days. On day 8, they secure financing at 6.0% interest rate. What should the buyer do?

In an Alberta commercial purchase, the buyer's offer includes the condition 'subject to the buyer's lawyer's approval of all documentation' by a set date. Before that date, the lawyer raises environmental concerns and states in writing that the documentation is not approved. The buyer has not waived the condition. Can the buyer rely on the condition to end the agreement?

What is the legal effect when a buyer waives a condition in an Agreement of Purchase and Sale before the condition deadline?

In Alberta, what is the minimum period that must be provided for a condition precedent in an Agreement of Purchase and Sale?

A buyer's financing condition states 'subject to obtaining financing of $400,000 at 5.5% interest.' The buyer obtains approval for $400,000 at 6.2% interest. What are the buyer's options?

When can a condition in an Agreement of Purchase and Sale be waived?

A buyer includes a condition in their offer stating 'subject to buyer's approval of a satisfactory home inspection.' The inspection reveals minor cosmetic issues but no structural problems. The buyer attempts to use this condition to withdraw from the purchase. Which legal principle would likely apply?

A buyer submits an offer with a home inspection condition that must be satisfied by 5:00 PM on Friday. The buyer's agent calls the listing agent at 4:45 PM Friday to verbally waive the condition. What is the legal status of this waiver?

A buyer submits an offer with a condition for financing approval by 5:00 PM on Friday, March 15th. The buyer's mortgage is approved on Thursday, March 14th. What should the buyer do to proceed with the purchase?

What constitutes a valid offer in Canadian contract law?

Which of the following is NOT a required element for a valid contract under Canadian common law?

A seller receives three offers on the same day. The first is open until 6 p.m., the second until 8 p.m., and the third until 10 p.m. At 7 p.m. the seller signs the second offer and returns it to that buyer. What is the legal position at 7:30 p.m.?

Which of the following is a fundamental requirement for a valid contract under Canadian common law?

A buyer's agent discovers that their client has been declared bankrupt but has not disclosed this information. The client wants to submit an offer on a property. What should the agent do?

Which of the following best describes the doctrine of privity of contract?

Under what circumstances can a real estate contract be considered voidable rather than void?

Under Canadian contract law, what is required to form a valid contract, such as an Agreement of Purchase and Sale?

Under Canadian contract law, what is required for a valid real estate contract to be formed?

In Alberta, which document must be registered at the Land Titles Office to transfer ownership of real property?

A seller receives two offers on the same day with identical terms except for closing dates. Under common law contract principles, what should the seller's agent advise?

A seller accepts an offer with a financing condition and no escape clause. Before the condition deadline, the seller receives a higher unconditional offer. What is the seller's legal position?

Which element is NOT required for a valid contract under Canadian common law?

Which of the following is NOT typically considered an essential element for a valid contract under Canadian common law?

Under what circumstances can a seller legally refuse to complete a firm Agreement of Purchase and Sale?

A real estate agent presents an offer to their seller client that contains an unusual condition allowing the buyer to assign the contract to another party. The seller is confused about this provision. What is the agent's primary legal obligation in this situation?

In an Agreement of Purchase and Sale, what is the legal significance of 'time being of the essence'?

An Agreement of Purchase and Sale requires title free of registered restrictions, except registered restrictions or covenants that run with the land, provided they are complied with. Before the requisition date, the buyer's lawyer finds a registered covenant, fully complied with, that prevents the buyer's planned use. Can the buyer terminate the agreement?

Under the doctrine of 'time is of the essence' in real estate contracts, what is the legal significance when a party fails to meet a specified deadline?

In contract law, what is the legal significance of 'consideration' in a real estate Agreement of Purchase and Sale?

In a complex commercial real estate transaction, the buyer discovers that the seller's corporate signing authority was exceeded when the Agreement of Purchase and Sale was executed. The seller's board of directors subsequently ratifies the agreement three weeks after signing. What is the most likely legal outcome regarding contract validity?

What is the legal significance of 'time being of the essence' in a real estate contract?

Under what circumstances can a buyer legally terminate an Agreement of Purchase and Sale without penalty after all conditions have been waived or fulfilled?

Under the doctrine of specific performance in Canadian contract law, when might a court order the completion of a real estate transaction despite one party's attempt to breach?

Under O. Reg. 567/05 made under TRESA, when must an Ontario brokerage deposit a buyer's deposit that comes into its hands in trust?

Under the Real Estate Services Rules, what must a licensee who represents a seller do about a material latent defect in the listed property that the licensee knows of?

What is the minimum period that must elapse before an irrevocable offer expires in Ontario real estate transactions?

In an exclusive listing agreement, what distinguishes it from an open listing arrangement?

In an exclusive listing agreement, if the commission rate is not specified in writing, what typically occurs?

In a listing agreement, what does the term 'holdover period' refer to?

Under the Real Estate Services Act (RESA) in British Columbia, what is the minimum duration required for an exclusive listing agreement?

In Alberta, what is the maximum commission rate that can be charged on a residential listing agreement?

A seller's listing agreement with the first brokerage (5% commission) has a 90-day holdover clause: if the property sells within 90 days after expiry to anyone shown it during the listing period, commission is payable, but the seller's liability is reduced by any commission paid under a new written agreement with another brokerage. After expiry, the seller signs with a second brokerage at 4% and sells for $800,000 to a buyer who toured an open house during the first listing. How much does the seller owe the first brokerage?

In Ontario, a seller wants to end an exclusive listing agreement before its expiry date, even though the brokerage has not breached it. What governs whether, and on what notice, the seller can do so?

In an exclusive listing agreement, what obligation does the seller have if they find a buyer themselves during the listing period?

Under TRESA and O. Reg. 567/05, which requirement applies to the expiry date of an Ontario listing agreement?

In a listing agreement, what does the term 'exclusive right to sell' mean for the listing brokerage?

Under what circumstances can a real estate agent legally disclose confidential client information obtained during representation?

In Ontario, which document must be provided to sellers before signing a listing agreement under TRESA?

An Alberta seller's exclusive listing expires at 11:59 PM on December 31. An offer is presented at 11:45 PM that night, and the seller accepts it at 12:30 AM on January 1. Under the RECA Rules, what determines whether the brokerage is owed remuneration?

A listing agreement expires on June 15th. On June 20th, a buyer who was shown the property during the listing period submits an offer that is accepted. Under typical listing agreement terms, is the seller obligated to pay commission?

Under TRESA regulations in Ontario, what is the maximum commission rate that can be charged by a real estate brokerage?

In British Columbia, under what circumstances can a listing agreement be terminated by the seller before its expiry date without penalty?

In a listing agreement, what does the term 'holdover clause' typically provide?

In an exclusive listing agreement, the seller agrees to pay a 5% commission. During the listing period, the seller finds a buyer independently and completes the sale without any involvement from the listing agent. What is the agent's entitlement to commission?

In British Columbia, what is the typical duration of a residential listing agreement if no specific term is negotiated?

A listing agreement contains a clause stating 'commission is earned when a ready, willing, and able buyer is procured.' The seller refuses to complete the sale after such a buyer is found, claiming they changed their mind. What are the agent's rights regarding commission?

Sarah lists her home with ABC Realty under an exclusive listing agreement that expires on June 30th. On July 15th, she sells the property to a buyer who first viewed the home during an open house hosted by ABC Realty in May. Assuming a standard holdover clause exists, what is the likely outcome?

A seller receives two offers at the same time: $500,000 firm and $495,000 subject to financing. The seller signs and returns only the $500,000 offer. What is the legal status of the $495,000 offer?

A seller receives two competing offers simultaneously. Under Ontario's rules for registrants, what is the obligation of the seller's registrant?

Under BC's Strata Property Act, which of the following must the Information Certificate (Form B) that a strata corporation issues to a prospective purchaser disclose?

In British Columbia, which document must a buyer (the transferee) file when applying to register a transfer of land, even if the transfer is exempt from Property Transfer Tax?

Under what circumstances can a buyer waive a home inspection condition after discovering significant defects during the inspection?

A commercial property purchase agreement includes a condition for environmental site assessment. The buyer's environmental consultant discovers soil contamination but the buyer decides to proceed anyway. To complete the purchase, the buyer must:

When can a buyer waive a condition in an Agreement of Purchase and Sale?

In British Columbia, a buyer waives their financing condition. After the three-business-day home buyer rescission period has passed, the buyer's pre-approved mortgage is revoked because of a change in employment that occurred after the waiver. What legal recourse does the buyer have?

When can a real estate licensee in BC legally waive a condition on behalf of their client?

Sarah submits an offer on a property with a condition for home inspection to be completed within 7 days. On day 5, she decides she wants to remove this condition without conducting an inspection. What document should be used?

A buyer waives their home inspection condition but discovers after closing that the furnace is not functional. The seller was unaware of this issue. What is the buyer's most likely legal recourse?

A buyer's home inspection reveals significant structural issues that were not disclosed by the seller. The inspection condition has already been waived. What legal recourse does the buyer have?

A buyer submits an offer with a home inspection condition that must be satisfied by 5:00 PM on Friday. At 3:00 PM Friday, the buyer's agent emails the seller's agent stating the inspection condition is waived. What is the legal status of this waiver?

What happens when a buyer waives a home inspection condition after discovering significant structural issues during the inspection?

What happens when a buyer waives a condition in an Agreement of Purchase and Sale?