Dear Sir or Madam,

As I mentioned in my previous newsletter, I will be retiring at the end of June so this will be my second to last newsletter.

The danger of precedents

Through the years I have seen numerous mistakes on offers either because the agent didn’t pay enough attention to it or relied on a precedent assuming it would be fine. Many of these mistakes, had the buyer or seller lodged a complaint to the regulatory bodies would have resulted in fines or even suspensions of the agent.

Do not blindly follow any precedent. Read it carefully and make sure it applies to your client’s situation. If a clause should not be there cross it out. Add clauses where necessary to deal with your client’s situation. If you are not sure about something speak to your managing agent or contact Eli Zbar who is taking over my practice. Don’t think it is a “stupid” question. Better to ask a “stupid” question then to be before the regulatory boards who will , even if what you did is right, find something else you did wrong once they get their hands on your file.

Stay in your lane

Do not take on matters that are out of your area of expertise. The prime example of that is agents who think they can handle a business asset sale or business share purchase sale. Most of them don’t know the difference between the 2 types of sale, nor even the things that are crucial in each type of sale. Such types of sales should only be done by agents who have experience with such matters. And even then they should insist that their client’s lawyer review the contract before it is finalized. It is too late to fix things that the agent missed or did wrong once the deal is signed. That opens you up to a negligence claim.

Contrary to what people think, a lawyer is not more expensive than a notary. Remember that all lawyers are notaries, but notaries are not lawyers. My experience is that as soon as there is a problem with a deal, most notaries will tell the client to see a lawyer for help. So why not start with a lawyer? Eli Zbar welcomes the opportunity to quote on your client’s conveyance or other legal matter.  

As part of the transition of my practice to Eli’s firm, Arora Zbar LLP, this newsletter is now originating out of his office’s email system. As result it is necessary for you to “opt in” in order to continue receive it. 

Yours truly,