August 2017 Archives

Holdover Clauses - When No-Deal Still Means Paying Commission

When a real estate broker and client enter a formal relationship, the parties typically seal the arrangement by signing a written contract. Whether it's a Listing Agreement for sellers or a Buyer Representation Agreement for buyers, the client is looking to land a deal. But sometimes that doesn't happen during the time period covered by the contract. Yet even after the agreement expires, a client could still be on the hook for paying a brokerage commission. How? Through something called a holdover clause.

Consumer Protection: The Cooling Off Period In Real Estate

Under Ontario consumer protection law, certain contracts come with a cooling off period. During this limited time, a purchaser can cancel for any or no reason and receive a refund. The period applies to gym memberships, door-to-door sales and a handful of other contract types. Our post this week looks at the one real estate scenario in which a cooling off period applies. We'll also review other areas in which real estate market participants must proceed without the benefit of this type of consumer protection.

Illegal Basement Suites - Two Potential Risks For Homeowners

According to a recent survey conducted by Square One Insurance Services, 11 per cent of house owners across Ontario, B.C. and Alberta rent out some portion of their property to non-family. Most do it for extra income or to help out with the mortgage. But there's a problem: 17 per cent of these units are considered illegal - and if discovered, owners could face financial consequences on two fronts.

Grandparents’ Rights: Have The Amendments Made Any Difference?

Parents and children are not the only ones impacted by separation and divorce. In the past, grandparents had nearly no legal rights that would grant them access to their grandchildren. But since December 2016, the law changed and Bill 34 became law in Ontario.

New Condominium Purchases - Three Cautions

Buying a brand-new condominium has many advantages. Buyers tend pay a lower purchase price and often there is no GST/HST payable. New-built also often means more options and decision-making power on the unit's features and upgrades. But before rushing to sign the purchase agreement, buyers should be aware of several drawbacks. Our post this week looks at some of them.

First-Time Home Buyers: Closing Costs 101 (Part 3 of 3)

Over the last two weeks, we've been looking at the various closing costs that first-time home buyers face in addition to the down payment. Part 1 discussed mandatory costs. Part 2 outlined costs that are not legislated, but practically unavoidable. This week, we conclude our series with costs that lie mostly within the control of the buyer.

First-Time Home Buyers: Closing Costs 101 (Part 2 of 3)

Last week, we began a three-part series about the various closing costs that come with new home purchases. Part 1 in the series discussed mandatory costs - the ones required by law. This week, we look at costs which are not legislated, but are nonetheless hard to avoid if you want your real estate transaction to close successfully.

shameless self promotion

  • Quinn Ross Takes Office As President Of The Ontario Bar Association

    The Ontario Bar Association (OBA) is pleased to announce Quinn Ross as the 83rd President of the OBA.

    Ross, Managing Partner of The Ross Firm, with offices in Goderich, Kincardine and Stratford, has been an active member in senior roles on the OBA board since 2012.

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  • Ross Firm Golf Tourney In Support of Huron Women’s Shelter a Swinging Success

    On behalf of the Huron Women’s Shelter and The Ross Firm P.C., we say “THANK YOU” to our many Sponsors and Donators for their outpouring of generosity and support for the annual Take a Swing Against Violence Golf Tournament held at Goderich Sunset Golf Club.

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  • Who needs a Will? You do!

    Our guests can explain why. Are you single and renting? A new Family? Or Homeowner? Enjoying your Golden Years? We all need a Will and our guest speakers will show you the why and the way.

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  • Take a Swing Against Violence

    On June 21, 2017, the Huron Women’s Shelter Second Stage Housing and Counselling Services, Board of Directors and The Ross Firm will be hosting the Taking a Swing Against Violence golf tournament at the Goderich Sunset Golf Course.

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