This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


The right office for today's marketplace.

For assistance call 416-491-4002
Agent Login

When Must A Conditional Sale Be Reported?

March 18, 2013 - Updated: March 18, 2013

 

 

RE/MAX CROSSROADS RULES & REGULATIONS BULLETIN:

 

When Must A Conditional Sale Be Reported?

a)      Within 48 hours of acceptance of the offer;

b)      Only upon receipt of deposit;

c)      Within 2 TREB Business days following the acceptance of an offer; or

d)      After the Seller has provided written direction to report the conditional sale.

 

The correct answer is “c”.  According to TREB Rule, R-610:  the sale, lease or sub-lease must be reported whether conditional or firm within 2 TREB business days following the acceptance of an Offer.

 

Frequently, agents wait to receive the deposit before they report a conditional sale.  This misunderstanding of the Rules leads to frustration by fellow REALTORS® and their clients trying to view the property, and is a costly mistake when the Rule breach is brought to TREB’s attention.  

 

With this in mind, please report your conditional sale, lease or sub-lease to our in-house deal secretary within the above-noted timeframe.  You can conveniently fax / email / drop it off in person at the office.    

 

For a complete reading of the TREB MLS® Rules and Policies, please click here.

 

 


Tagged with: conditional reporting sold treb rules breach
| | Share

Powered by Lone Wolf Real Estate Technologies (CMS6)