While it may seem simple to change contract terms, there are important guidelines and principles for REALTORS® to keep in mind when drafting a contract or in making amendment.
Posts tagged with “Subject Conditions”
![post image](https://www.bcrea.bc.ca/wp-content/uploads/shutterstock_1695433462-scaled.jpg)
These are unprecedented times with the arrival of COVID-19. We have all heard that many times and it’s true for all industries, including real estate…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
An owner who sold a building lot took back an option to repurchase it if the buyer did not construct a dwelling house upon it by a fixed date…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
It is the selling licensee who discovers what a prospective purchaser can or cannot afford, or what specific quality or use of the property is of particular interest to the purchaser…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
A vendor’s decision to take a back-up offer can be risky to the vendor’s financial health, as will be apparent from your review of the following facts…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
Adam entered his solicitor’s office with a writ in his hand and an expression on his face which his solicitor, as Adam’s old golfing partner, recognized…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
The following are all abbreviated examples of the usual “subject to” clauses to be fulfilled by a purchaser, right…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
The battle to force a mortgagee to accept prepayment of a locked-in, high-interest rate mortgage which had been renewed after the initial term of five years had expired, continues on several fronts within the legal…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
An offer to purchase the assets of a hunting and fishing lodge, was subject to a number of conditions, one of which was the following: “Subject to obtaining financing, provided that this subject clause shall be…
![post image](https://www.bcrea.bc.ca/wp-content/uploads/LegallySpeaking.png)
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…