Buying and Selling

Amendments in counter-offer—should seller’s agent advise buyer’s agent of changes to offer? #363

Legally Speaking

By Gerry NeelyB.A., LL.B. The first case in Legally Speaking 362 discussed the liability of a buyer’s agent who had submitted an offer containing a conditional inspection clause. He failed to notice the seller’s counter-offer amended the inspection clause, which led to the buyer’s loss of a $50,000 deposit. Although the agent was clearly negligent, he must have

Buyer’s Agent Failure to Advise of Amendment in Counter-Offer #362

Legally Speaking

By Gerry NeelyB.A., LL.B An Ontario buyer’s agent, who submitted an offer to the seller’s agent, discovered the importance of carefully examining the seller’s counter-offer for amendments the hard way, at a personal cost of $50,000. The offer was subject to an inspection and to the “obtaining of a report satisfactory to the purchaser.” This