Posted by The Donald on June 20, 2000 at 24:16:24:
L/Os are doable here - but, as you know, the RE climate is VERY CONSERVATIVE versus that in the US.
You’ll probably find, as I did, in Ontario there is some resistance from both lawyers and Realtors alike to anyone using a “non-standard” contract.
If you think this is hyperbole, just read Bob Aaron’s latest RE column in the Toronto Star this weekend.
Bob - a noted Solicitor for 28 some years - still refers to the Realtor’s contract as the “standard form” - even though usage of this form is neither mandated by or codified in statute law.
Go figure. Mind you the Realtor’s contracts are developed in conjunction with the Law Society of Upper Canada - and Aaron is chair of the committee that revises these contracts for the Realtor’s Association, so maybe that’s why
The US gurus L/O stuff will give you the basics of how an L/O is done, and what pitfalls you may encounter.
If you have a creative lawyer on your side (unlike the establishmentarian Aaron) you’ll go far with your deals. Likewise for a mortgage broker and Realtor who don’t mind playing ball on your team.
Otherwise, you’ll just be spinning your heels, and going nowhere fast.