I am often asked how real estate partnerships or joint ventures should be set up. Who should go on title? What clauses do I need?
Please see the attached article where I set out the key provisions that need to be negotiated in any real estate partneship agreement. If you or your clients need any assistance with setting up a joint venture or partnership agreement, please contact me.
The last patches of snow are melting away and the slow warm up in weather has also impacted the slow warm up in the spring real estate market. Last year the market was in full swing by mid-end of February and this year it is only recently that we are starting see some quality listings hitting the market. Inventory is still low and housing prices have inched up another 3+% on average from this time last year (Canadian Average).
Read MoreI am always asked how much should be disclosed when a salesperson buys a property from their real estate brokerage’s client. The simple rule is that there is never too much disclosure. Besides disclosing the fact that you are a salesperson, consideration should also be given to make it very clear to the seller that the buyer intends to sell the property for a profit in the future. In addition, the seller should also be encouraged to make any deal conditional on the review and approval by the seller’s lawyer, before the offer becomes firm.
Read MoreMuch of the same – The Toronto Market is still seeing significant amount of bidding wars. This week alone (despite a bad stomach flu) I took part in 2 more. Quality inventory is still quite low. Coupled with the slow start to spring, potential sellers have relaxed their time line to placing their home on the market. Within in the nest 2-3 weeks we should see significant amounts of new listings.
Read MoreThere are non-realtors out there who are trying to put real estate deals together, using an agreement called a “Right to Buy” or “Option to Purchase.” They then try to sell their right to a third party, taking a fee fo their efforts. A CBC story made national headlines about a BC couple who moved to Calgary after agreeing to an option to purchase agreement with a company called Kelowna Home Deals. This company then tried to sell the option to a tenant under a rent to own agreement.
Read MoreIn the GTA Market – Sellers’ Market Continues: Below is an account of my recent dealings, and I think it speaks greatly to the state of the Toronto Real Estate Market. This week was especially interesting.
Read MoreWhen you are visiting a property before making any offer, do not be shy about your due diligence. This includes looking behind every picture on the wall, under every bed or area rug and lifting everything off the kitchen counter.
Read MoreThe Toronto real estate story continues in much the same manner: i.e. slower sales yet slightly higher prices. | Greater Toronto Area REALTORS reported 2,823 sales through the TorontoMLS system during the first 14 days of February. This result represented a decline of 8.3 per cent compared to the same period in 2012.
Read MoreQuestions have been raised as to whether a seller should disclose that there has been a natural death which occurred in the home. In my opinion, if it is a fact that would be important to a buyer, then it should be disclosed. In the GTA alone, there are so many cultures and languages spoken that it is almost certain that a death in the home, however it happened, may affect a buyer’s decision to buy a property so it should be disclosed before any offer is made.
Read MoreHappy Valentine’s Day! I hope all you romantics had a wonderful day or at least plan to celebrate over the weekend.
A short communication this week.
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