Over the next few weeks, we will walk through the most common points where real estate deals encounter risk, delay, or failure — and what can be done to avoid them.
We begin at the very start of the transaction.
The Agreement of Purchase and Sale.
Here are three things every buyer and seller should understand.
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The agreement is binding — even if details are unclear
Once signed, the Agreement of Purchase and Sale is a legally binding contract.
If key terms are vague or incomplete, that does not make the agreement flexible — it can make it risky.
Common problem areas include:
• unclear inclusions and exclusions
• poorly drafted conditions
• missing timelines
Ambiguity at this stage often leads to disputes later.
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Conditions must be properly drafted and carefully managed
Financing and inspection conditions are often treated as routine — but they are critical.
Issues arise when:
• conditions are waived too quickly
• deadlines are missed
• wording is unclear or overly broad
If a condition is not properly satisfied or waived, the deal may not proceed.
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Changes after signing are not always simple
Once an agreement is signed, changes require mutual consent.
If one party refuses:
• the deal may stall
• disputes may arise
• closing may be jeopardized
From a legal perspective, it is far easier to get the agreement right at the outset than to fix it later.
Dig deeper
OREA — Agreement of Purchase and Sale overview
https:/
Ontario Government — Buying and selling a home
https:/
Many real estate problems begin at the contract stage.
A well-drafted agreement reduces risk. A rushed or unclear agreement can create it.
As always, we are happy to assist in reviewing and advising before issues arise.