The question of how to deal with HST in an allocation scenario is crucial, but fraught with pitfalls. When negotiating the task, the agent and agent must be aware of the impact of the New Home Warranty Program, as managed by Tarion. Is the property considered a new home or a resale? In any event, the final purchase price that the agent must pay to the agent is generally composed: Apart from any restrictions on marketing or advertising, the agent must clearly state in each offer that it is an assignment of a sale and sale agreement, with a contractor and not just with an alleged sale by the agent. As noted above, the transfer agreement is subject to the manufacturer`s approval. From the agent`s point of view, it should also be subject to a review of the initial purchase and sale agreement (as signed by the agent), the transfer agreement as well as all amendments, waiver declarations, communications (and for condominium purchases, disclosure statement, etc.). If there is no other reason, it will give the agent the opportunity to review the specific list of additional accommodations for which he or she will have to pay at the closing. It goes without saying that this audit must be carried out under the supervision of an experienced real estate lawyer. An important provision of the purchase and sale agreement – and an easy-to-ignore provision – can have a significant impact on whether an Assignor wishes to withdraw. Many purchase and sale agreements contain a widely standard “no assignment” clause, which gives the Assignor “direct or indirect” steps to rent, sell, sell, sell, sell, sell, sell, transfer, sell or sell the property. The agent may take steps to protect his position in this regard.
When negotiating the transfer agreement, the agent should, for example, require the agreement to receive written confirmation from the owner that he or she receives a discount on new HST housing at the time of conclusion (provided that qualifying requirements are met by other means). Otherwise, if this obligation is not written, the owner is entitled to exercise his discretion as to whether the buyer credits the amount of the rebate at the final closing or if the credit is withheld and can ask the agent for the creditor for the HST credit immediately after closing.