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Canadian Real Estate/Condo Clauses
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Question
Hi Derek,
I'm a new real estate agent and I'm working with a client who is planning to purchase a condo in the Greater Toronto area. I would like to be sure I include all the necessary clauses in the contract to be able to protect my client and be thorough. Can you give me any advice as to which clauses should be included to ensure I don't leave anything out that isn't obvious but should still be there or is an oversight on my part. Your advice and opinion is much appreciated and thanks.
Jan
Hi Jan,
The most important clause is to make the Offer Conditional for 10 business days upon the Buyer and lawyer examining the Status Certificate ! A very standard clause used in most Condo offers.
Conditional upon the Buyer being able to arrange financing is very common too.
2 Future visits to the property prior to closing for measurements etc...
The CVA Clause! Taxes may go up prior to closing.
The property is to be left in a clean broom swept condition.
All appliances are to be in good working order!
Locker & parking #
Maintenance Fee's pays for the following:
Good luck!
Derek
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Answers by Expert:
Derek Hamilton
Expertise
Any questions relating to Residential Real Estate in the City of Toronto or Southern Ontario. How much is my home worth in todays market? What's involved in Buying Real Estate ? How much do you need for a down payment? What's involved in Buying a Condo? What's involved in Buying a Co-op? What do you need as a deposit? How to choose a good Real Estate Agent for your property? What should you do to prepare your home for the market? How much Commission should you expect to pay? What are the expenses when Buying or selling your property? Should you have your home Staged for the market?
Experience
Residential Real Estate Sales Representative in Toronto Ont,Canada for 25 years. Award winner for 20 straight years with Royal Lepage & Sutton Group. Prior experience was 10 years building new custom homes & Renovations in North Toronto. I have a total of 30 years experience in the Residential Real Estate field.
Organizations
I also subscribe to the Georgian Triangle Real Estate Board in Collingwood & the surrounding areas.
Education/Credentials
George Brown College "Carpentry", Continuing Education with the Toronto Real Estate Board. Member sinse 1985.
Awards and Honors
Platinum Award 2000-2008
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