Humber Real Estate

Yes, to ensure the property is protected. Is it mandatory to be present at any third-party inspections at the home? - A buyer representation agreement or a buyer customer service agreement - The accepted agreement of purchase and sale - The FINTRAC form for identification verification and Receipt of Funds for the deposit At the time an offer is accepted, what documents must be provided to the brokerage? The conditions are historical evidence of the progress of the parties i...

Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agreement calling for an event to happen, or an act to be performed, before the agreement becomes bindi...

Binding agreement When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent What methods can be used to draft conditions? A true condition precedent. If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agreement calling for an event to happen, or an act to be performed, before the agreement becomes bindi...

No. They can vary significantly from builder to builder or even from project to project. Is there a standardized form for builder's agreements? - Dimensions - Materials of rooms, cupboards & countertops - Descriptions of future facilities planned for the site - Schedules for deposit payments & occupancy dates What information is usually defined in a builder's agreement? The builder's lawyer (to serve the builder's best interests). Who generally prepares a builder's agree...

When an offer is drafted, not signed. What is considered the 'Offer Date'? No. Even if terms are changed on a following day and the offer is re-submitted, the offer date remains the same. Does the date of an offer change? Use the full legal names, and if the individual has one or more middle names, at a minimum identify the initial(s). Tip: Whenever possible, use the full middle name(s) as this helps distinguish the seller or buyer who has a common first and last name. What...

A sign back. A counter offer is also known as what? - Offer date - Irrevocable - Expiry of conditions - conditional date - Requisition - title search date - Completion or closing date Note: The order of these dates does not follow the order on the agreement of purchase and sale. Using this chronological order will help you to determine when different activities must occur for the transaction to be successful. An offer plan should itemize what dates in chronological order? ...

What is a Percentage Lease? - The tenant is typically required to pay a fixed minimum monthly rent (i.e. to cover taxes, maintenance and insurance as the bare minimum), plus a percentage of gross monthly income in excess of base sales calculated using the minimum rent - Mainly found in the retail property market - This arrangement creates a type of partnership between the landlord and tenant How can Percentage Lease rates be negotiated between a buyer and seller? It can be dependa...

- Ceiling heights - Heating systems - Doors - Electrical systems - Lighting fixtures - Bay sizes What parts of an industrial property's interior does a salesperson need to thoroughly inspect to ensure they comply with municipal bylaws? - Potential for expansion of the existing building - Potential for demolition and decommissioning for redevelopment - Adequacy, condition and location of the exterior signage - Any deterioration of the building observed What exterior parts ...

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