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All posts for the month February, 2014

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Posted by: Yahoo.com

Q&AQuestion: Where can I find a a parking or fencing bylaw in Toronto?

Answer: In Toronto zoning by law can be found in www.toronto.ca/zoningClick this link  to watch video how to search zoning bylaw in Toronto. It is a good idea to check the zoning bylaw to know if parking at the street is legal or how high can a fence be erected within your property.

 

Q&AQuestion: I’m a first time home buyer if I don’t deliver the deposit cheque to the listing brokerage during the given timeframe after the offer has been accepted can the listing brokerage void the deal and cancel the transaction and move on to the next offer? I was in the middle of a bidding war and the listing broker wanted to void my deal after I failed to deliver the deposit checks on time to their brokerage.

Answer: The answer is NO! The listing brokerage cannot void the transaction just because you were late in delivering the deposit cheque to the listing broker. There is nothing in the “Agreement of Purchase and Sale” that states that a deal can be voided if the deposit cheque was delivered late or not on time unless there is a seperate clause inserted that says so.

The main purpose of putting a deposit is to show the seller that a buyer is serious about purchasing the home. Ethically an agent should make sure that a client deliver the deposit cheque within 24 hours upon acceptance of an offer but this cannot be use as a ground to void a transaction unless otherwise stated and inserted in a special clause in the “Agreement of Purchase and Sale.”

This doesn’t necessarily mean that a buyer can take their time to deliver the deposit cheque to the listing brokerage,  it is an obligation to show that the buyer is serious about the property but it’s a not a ground to void a transaction.