Listing Agreement
This Form is a contract between a Seller and a real estate company that gives the real estate company permission to act on the Seller’s behalf when they offer their home for sale in the open market. A written agreement is necessary in order to secure commission and to ensure compliance with the REBBA Code of Ethics.
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Working with a Realtor
In real estate, there are different possible forms of agency relationships. This form explains the Seller Relationship, Buyer relationship and what happens if multiple representation occurs (the same Real Estate Brokerage represents both seller and buyer).
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Seller Property Information Statement
Or SPIS as its commonly known will provide information related to defects, renovations and other pertinent property information, based on the seller's knowledge and experience.
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Privacy Agreement
The privacy agreement is to inform you how Keller Williams Ottawa Realty are committed to protecting your privacy. We respect your privacy and want you to understand how your personal information is safe guarded. The form explains how we collect your information and how it may be used.
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FINTRAC
On June 23rd, 2008 new federal money laundering and anti-terrorist financing regulations came into effect that require real estate agents and brokers to collect personal identification information from buyers and sellers.
Your REALTOR® requires this identification information to comply with the law. It is the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents, among other professionals and services covered by the legislation, to identify customers who conduct financial transactions. These include depositing funds or buying and selling real estate. The Act also requires real estate agents to keep these identification records for five years.
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This Form is a contract between a Buyer and a real estate company that gives the real estate company permission to act on the Buyer’s behalf in the purchase of a property. Assuming the Buyer is a Client of the real estate company, the Real Estate Council of Ontario (Ontario’s governing body) REBBA Code of Ethics requires that Salespeople have a written Buyer Representation Agreement presented for signature prior to an offer being presented on behalf of the Buyer.
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Agreement of Purchase and Sale
The Agreement of Purchase and Sale is the document that is used to state the Buyer’s desire to purchase the property, and to negotiate the terms of the sale. It is commonly referred to as an “Offer”. This document also allows the Buyer a chance to outline in detail all of the conditions they wish to be placed in their Offer to buy the Seller’s property. Some common examples of a Buyer’s conditions include arranging financing (a mortgage) for the property to be purchased, completing a home inspection, or ensuring that the sale of their current home is completed before purchasing a new one. After the Offer is prepared and signed by the Buyer, it is presented to the Seller for acceptance. The Seller, in turn, may want to make changes to the Offer for the Buyer to consider. This process can continue back and forth several times in an effort to reach an agreement.
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Notice of Fulfillment A Notice of fulfillment is used when a condition on the Agreement of Purchase and Sale has been completed. For instance, the offer is conditional upon the Buyers having a home inspection done. In order for this to condition to be fulfilled, the inspection would have had to be done, and the findings satisfactory to the Buyers.
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Waiver
A waiver is used when the Buyers have decided to forgo a condition on the Agreement of Purchase and Sale. For instance, the offer is conditional upon the Buyer having a home inspection done. In this case, a waiver is used if the inspection was not done, thereby waiving the inspection clause.
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Confirmation of Co-operation
This Form is used to indicate to all parties involved the specific types of relationships that exist in their particular real estate transaction. This document is used in part to reassure all parties that they will be treated fairly in the transaction. The Form is used to set up an arrangement between companies and is acknowledged by the parties.
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