by James R.G. Cook | Mar 10, 2025 | Columnists, Legal Issues
Stock photo (Canva) QUICK HITS A buyer agreed to purchase a home, but before closing, the property was destroyed by fire, triggering an insurance clause in the APS. While the seller provided insurance details and extended the closing date, the buyer...
by James R.G. Cook | Feb 27, 2025 | Columnists, Legal Issues
QUICK HITS A buyer who failed to close on a Burlington property due to lack of funds attempted to rely on legal defences of force majeure and frustration, citing difficulties accessing inherited money from Afghanistan and a failed sale of another property. The...
by Jordana Springgay | Feb 18, 2025 | Legal Issues
Menethil Properties Ltd., and its director, Yu “David” Song, are once again under fire. This time, the British Columbia Financial Services Authority (BCFSA) has ordered the Kelowna, B.C.-based rental property brokerage to halt operations following the suspension of...
by Mike Murphy | Feb 11, 2025 | Legal Issues, News
The recent Sitzer/Burnett v. National Association of Realtors (NAR) case in the U.S. has forced significant changes in how buyer agents receive commissions. NAR settled the case to avoid an “existential” financial threat (more than $5-billion), agreeing to remove...
by James R.G. Cook | Feb 7, 2025 | Legal Issues
In addition to acting on purchases and sales, real estate agents may be engaged to find tenants for their clients. The services provided in this regard can include listing the rental property and vetting potential tenants. If a tenant found through the listing...
by Jordana Springgay | Feb 6, 2025 | Legal Issues
Mike Banks (Source: Facebook) An Edmonton Realtor has been hit with a one-month license suspension and fined $21,000 after being found guilty of misconduct by the Real Estate Council of Alberta (RECA). According to the decision dated Jan. 17, Micheal “Mike” Cordell...
