“Ask Joe” is a question and answer column by RECO’s Registrar Joe Richer that appears in the Toronto Star.
Richer answers questions from readers on a variety of topics, including how to spot a former grow-op, protecting your deposit and what to disclose in multiple offers.
Are you a home buyer or seller with a question?
- I bought a condominium unit, pre-construction. My financial circumstances have changed significantly and I now need to sell it. What should I know?
- I recently looked at a home that is for sale mid-renovation. I don’t mind taking on having the work completed, but how do I know if what has been done is to code?
- I recently came across an advertisement for a property for sale due to foreclosure. How does a foreclosure sale differ from a traditional purchase?
- My salesperson and I agreed that my home needed staging before it was listed. I was later surprised to be presented with a bill for it – shouldn’t my listing brokerage cover the staging costs as a part of their services to me?
- If I sell my property after my listing agreement with the brokerage ends, do I still have to pay a commission to the brokerage?
- My offer on a property was accepted with a $20,000 deposit owed on acceptance. Because I held back the deposit to make sure that the home passed an inspection, the seller terminated the agreement and might seek damages; but I still want the property. Does the seller have the right to terminate just because I didn’t pay the deposit on time?
- I am selling my property, if I accept an offer that is conditional on the buyer selling their existing home, can I still consider other offers in case they can’t sell their home?
- I am planning to list my home for sale next month, a couple of years ago I noticed a small crack in the foundation where a small amount of water was leaking through. It only leaks a very little bit during extremely heavy rainstorms. Can I tell my salesperson not to tell potential buyers about it?