Then…they write contracts…contracts that you should be able to understand when you are making the largest purchase of your life. I have studied and dealt with contracts daily for years but am hard pressed at times to explain contract law and the rhetoric used. It should make sense and be in plain language.
A few years back the Toronto Real Estate Board created a consumer-focused web site with a special area where you can view a few of the main contracts that Buyers and Sellers use when they enter into agreements. Each clause of the contract is the explained in "Plain Language" in red followed by the clause.
You can view these forms in plain language at this site.
This is a popular and great tool for potential Buyers and Sellers and there is also other good consumer information in that area. If you are thinking about getting into the market, you should read through them and if you have any further confusion or need clarification, please contact me. I'm happy to help.