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05-Jul-2016 05:39

Also, the real estate agent has a duty to act honestly and to exercise reasonable care and skill when providing information and opinions that third parties may rely on to their detriment (the tort of negligent misrepresentation).

An offer to purchase must be in writing and will be made in a contract of purchase and sale.

Condominiums are a special type of "fee simple" ownership called "strata title".

They can also be placed on a lot you own in "fee simple".Title (or ownership) to most real estate is held in what is called "fee simple" ownership.This includes most single family homes, town house and apartment condominiums, commercial properties and vacant lots or land.The seller contracts with the real estate agent in the standard form listing agreement.The real estate agent agrees to try to find a buyer on the terms specified in return for the seller's promise to pay a commission if the agent is successful.

They can also be placed on a lot you own in "fee simple".

Title (or ownership) to most real estate is held in what is called "fee simple" ownership.

This includes most single family homes, town house and apartment condominiums, commercial properties and vacant lots or land.

The seller contracts with the real estate agent in the standard form listing agreement.

The real estate agent agrees to try to find a buyer on the terms specified in return for the seller's promise to pay a commission if the agent is successful.

Mistakes in this business could be "hugely costly," said Chapple, who noted that services include open houses, websites, checking municipal permits over matters such as oil tanks, permits, title searches, negotiating contracts and more.