AI Study Resources

Under TRESA, the broker must provide the Seller Information Statement (required disclosure document) before the buyer signs the Agreement of Purchase and Sale.

Reference: TRESA, O. Reg. 567/20

Le courtier doit présenter la promesse d'achat au vendeur sans délai et lui en remettre une copie conformément à l'article 28 du Règlement sur les conditions d'exercice.

Reference: OACIQ Règlement, art. 28

A material latent defect is a hidden defect that renders a property dangerous, unfit for habitation, or unfit for the purpose for which it was bought, which the seller or agent knows about but is not apparent through reasonable inspection.

Reference: BCFSA RESA Guidelines

There is no regulated maximum commission rate in Alberta. Commission rates are negotiable between the brokerage and the client. All commission arrangements must be disclosed in writing.

Reference: RECA Real Estate Act, Rules & Regulations

When managing multiple offers, the agent must disclose in writing to all parties that multiple offers exist, follow the seller's instructions on offer presentation, and treat all parties fairly and honestly as required by the RECO Code of Ethics.

Reference: RECO Code of Ethics, s. 3, 5

Le droit de préemption est le droit d'acheter un bien immobilier avant qu'il ne soit offert à d'autres. Il confère à son titulaire la priorité pour acquérir le bien si le propriétaire décide de le vendre, conformément au Code civil du Québec.

Reference: Code civil du Québec, art. 1029