Personal Restrictions When Becoming A Franchisee
Most people looking for a franchise understand that there will be restrictions imposed by a franchisor on how the business is operated. This can range from a retail store having to purchase products from certain suppliers to a restaurant needing to prepare its burgers in a very specific way. However, some people are surprised to […]
The Importance of a Financing Condition
Given the competitive market that exists right now, many buyers have unfortunately been on the wrong end of a multiple offer situation. Sometimes, buyers are unsuccessful due to their price being too low or their closing date being unattractive, but other times it is because they included too many additional provisions in their offer. As […]
I Need a Permit For That?
Now that summer is finally here, a lot of people will looking to do renovations. While most people recognize that they will need building permits for large projects, like an addition, many do not realize that permits are required for smaller, more common renovations. There is some variance among municipalities in terms of what requires […]
Wait, My Landlord Can Tell Me To Move?
Negotiating a commercial lease is a very involved process. There are numerous items of concern, and most people fixate on the term of the lease, the amount of rent, and the right to renew. While these terms are important, there often other provisions in a lease that can have very significant consequences. One provision that […]
Personal Guarantees in a Corporation
When speaking to a client about starting their business, I often discuss the different structures available (e.g. sole-proprietorship, partnership, corporation, etc…), as well as the various benefits and drawbacks for each one. One of the main advantages of incorporating, beyond certain tax benefits, is limiting the liability of the corporation’s shareholders. Unfortunately, there are some […]
What Happens if My Sale Does Not Close?
When we assist clients with the sale of their property, we discuss a variety of items with them, such as contacting utility companies and meeting to sign the closing documents. While the conversation focuses primarily on the process of completing the sale, clients will often ask the question “what happens if my sale does not […]
The Location of Your Franchise is Important — Remember to Protect it
Location, location, location. That is what we always hear when it comes to buying a house or setting up a business. For a franchisee, the decision of where to set up your operation is a crucial part of determining your likelihood of success. However, in addition to choosing the right location, protecting it against various […]
Why Do I Need a Status Certificate When Purchasing a Condominium?
When signing an Agreement of Purchase and Sale for a condominium, some buyers are surprised to see their agent has inserted an additional condition beyond the usual financing and inspection provisions. This condition, involving a review of a status certificate and associated condominium documents, is extremely important for a variety of reasons. First, the status […]
What do the new mortgage qualification rules mean for those looking to buy a home?
If a house is on your wish list for 2018, you may have heard about changes to the qualification rules for mortgages. There are new rules in effect as of January 1, 2018 that will affect your purchasing power, so it is important to understand these changes before beginning the search for your dream home. In […]
