“Best Efforts” Cases #9

BC Real Estate Association logo with the words "legally speaking" printed below

By Gerry NeelyB.A. LL.B. Very occasionally a prospective purchaser for whom an offer to purchase is being prepared, asks for the insertion of a condition in the agreement such as “subject to financing…” because he is not entirely certain whether he wants to buy the property. The reasoning of course is that if he decides

Clauses in the Offer to Purchase #8

BC Real Estate Association logo with the words "legally speaking" printed below

By Gerry NeelyB.A. LL.B. The Offer to Purchase used by the Multiple Listing Service of the Victoria Real Estate Board contains the following clauses:” . . . Balance of cash payment to be deposited in trust by the purchaser by 5 p.m. on ____________,19__. Balance of cash payment to be made to the Vendor and