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Ontario real estate law updated with open bidding option

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Ontario has brough in new rules that seek to provide more clarity for homebuyers and sellers, though they don’t go as far as some had hoped.

The rules, which took effect on Friday, include the option for sellers to use an open bidding process, improvements to broker and brokerage disclosures and ways to avoid conflicts on multiple representation.

The open bidding process lets the seller disclose submitted bid prices to potential buyers, something that had previously been banned.

Seán O’Shea reports on the new rules.

For more info, please go to https://globalnews.ca/news/10141475/ontario-real-estate-law-update/
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Category
U.S. & Canada
Tags
global news, Ontario real estate, Ontario real estate rules
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