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Legal Forms from Barry

workman

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Just wondering if anyone knows when we will get the legal forms from Barry? I need to get the forms as I have a deal to work on.




Jody
 

BarryMcGuire

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QUOTE (workman @ Oct 22 2009, 04:33 PM) Just wondering if anyone knows when we will get the legal forms from Barry? I need to get the forms as I have a deal to work on.




Jody

Good work, Jody! I must say, this event certainly has created forward momentum.

I forwarded all of the front end documents from the Quick Turn Real Estate Event to the REIN offices to distribute. I am sure they are working on it.

Hope this helps,

Barry
 

Dejavu

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QUOTE (BarryMcGuire @ Oct 22 2009, 06:45 PM) Good work, Jody! I must say, this event certainly has created forward momentum.

I forwarded all of the front end documents from the Quick Turn Real Estate Event to the REIN offices to distribute. I am sure they are working on it.

Hope this helps,

Barry


Hi Barry,

I would like to take this opportunity to thank you for answering so many questions for us in Edmonton, it was very helpful and much appreciated.

Following on Jody`s question, I was wandering if you heard back from James Quigley regarding the Ontario equivalent for Agreement for Sale.

many thanks!
 

garnetbailey

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Where are the forms hiding - anybody know? It`s been a week since Barry said they were sent in...

Thanks
 

REINteam

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QUOTE (garnetbailey @ Oct 27 2009, 11:22 AM) Where are the forms hiding - anybody know? It`s been a week since Barry said they were sent in...

Thanks


The forms are all uploaded under the Critical Forms section under Downloads. We`ve created a new category for the Ron LeGrand Event: Legal Forms from Canadian Quick Turn Real Estate
 

antaynguy

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Mar 3, 2011
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Hi Everyone,

Does anyone have a sample of how these legal forms are filled out?
It would be nice to see it filled out in each of the scenerios:

1) Wrap Mortgage with FSA
2) Lease to own

Thanks!

Antay
 

antaynguy

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Hi Barry,

I would love to use your firm to close the deals.

Does this means that using the forms that you`ve given to REIN is sufficient to fill out the basic information and then sent to your law firm to do the rest or will your firm provide me with a more complete form to be filled out with the seller/buyer?


Thanks!

Antay
 

neill

Airdrie, AB
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Oct 22, 2007
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QUOTE (tbarcier @ Oct 27 2009, 02:01 PM) Yay!
Now we just need to convince you to do a bootcamp in ON!


Hey Thomas - one coming next year in TO!
 

tbarcier

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So I am hearing. In March some were saying, nothing on the calendar though.
 

BarryMcGuire

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Hi Antay. Yes, you can use our firm to close your Agreement for Sale, ( AFS ), deals. I believe you can use the forms I explained in my handout at the Ron LeG event and now posted on myreinspace. Remember though, those forms , LIKE ALL FORMS, are just a starting point. If you have a deal that fits squarely within the parameters of those forms, then , use them. For instance, if you have an AFS deal, start with the custom AFS contract with financing schedule contained within the custom contract, or an AREA contract amended per my handout/documents . Don`t forget the AFS financing schedule , buyers version if you are buying. Either of those two scenarios get you a contract that both lawyers should be able to make sense of. If your deal doesn`t seem to fit or doesn`t make sense , ask questions. Ask me or a different lawyer or on the Myreinspace forums.
Your job is to understand the deal well enough to " sell " / explain it to the other party , typically a seller, so they understand it well enough that they can go to their lawyer and have an intelligent conversation about the transaction. We prefer to act for REIN members rather than for the other party to the deal.
Glad to assist you , pls call or email as required.

Cheers

Barry
 

Doris

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QUOTE (Dejavu @ Oct 23 2009, 11:46 AM) Hi Barry,

I would like to take this opportunity to thank you for answering so many questions for us in Edmonton, it was very helpful and much appreciated.

Following on Jody`s question, I was wandering if you heard back from James Quigley regarding the Ontario equivalent for Agreement for Sale.

many thanks!


Hi there,

We are also in urgent need of the Ontario version of Barry`s forms. I called James Quigley and left a message but to date he has not replied. If you or anyone else has information on Ontario forms please pass them along. I talked to my lawyer briefly about the types of deals we will be doing and got the expected mystified look. We are doing some digging of our own. I`ll keep you all posted. Thanks.

Doris Belland
(aka Doris of Ottawa)
 

BarryMcGuire

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QUOTE (Doris @ Nov 4 2009, 01:16 PM) Hi there,
We are also in urgent need of the Ontario version of Barry`s forms. I called James Quigley and left a message but to date he has not replied. If you or anyone else has information on Ontario forms please pass them along. I talked to my lawyer briefly about the types of deals we will be doing and got the expected mystified look. We are doing some digging of our own. I`ll keep you all posted. Thanks.
Doris Belland
(aka Doris of Ottawa)

Hi there. I had a lengthy conversation with James Quigley yesterday. He says there isn`t an exact equivalent to the `Agreement for Sale` concept in Ontario. It gets a little confusing to discuss with your Ontario lawyers because the standard contract Ontarians use to buy a property is called an `Agreement of Purchase and Sale`. An `Agreement for Sale` on the other hand is both a concept and a document.

The concept, both in Alberta and B.C., is the notion of purchasing a property with seller financing where title remains in the seller`s name and the buyer registers a notice on the title indicating that he has an interest in the property. Buyer gets possession and is responsible for all costs that any buyer would have such as taxes, insurance, upkeep plus his payment to the seller. That is the `Agreement for Sale` concept.

The `Agreement for Sale` document is a lengthy, complex document similar to a mortgage. Its purpose is to set out the terms of the seller financing, who is responsible for what costs, what is a default and what are the remedies and how the buyer eventually gets title to the property.

What James is thinking over is how to make the Agreement for Sale concept work in Ontario... How to figure out the documentation for a deal that is really a purchase with seller financing and a deferred closing date where buyer has control of the property. BIG NOTE: James reminded me, and I said it would pass it on, that there is land transfer tax in Ontario and that any buyer would most likely have to pay that tax. That is not written in stone, but he just wanted everybody to remember about land transfer tax. You folks in BC also have land transfer tax that will have to be considered as part of any Agreement for Sale type purchase.

I now am getting requests to do my `Deal-Ready Documents` Focus Workshop in both BC and Ontario. This Workshop is all about `Quick Turn` paperwork from the legal end, as well as Lease-Options and Joint Ventures. What attendees will get out of the Workshop is a deeper understanding of the Quick Turn concepts, along with usable copies of Quick Turn documents. The valuable result is the ability to explain deals to buyers and sellers, as well as to instruct your own legal counsel and, handily enough, give them some documentation that they can adapt your purposes. We are booked up until after Christmas so this will have to be in the new year. I will work hard with James Quigley in Ontario and Mark Warkentin in BC to try and get them my ideas and copies of documents that they can help you folks with both in Ontario and BC. That`s going to take some time and, Ron may actually do his boot camp Ontario or BC or both. My Focus Workshop makes more sense to attend after youve been to Ron`s boot camp.

That`s it for me I`m now off to the Edmonton REIN meeting.

Hope this helps,

Barry
 

Doris

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QUOTE (BarryMcGuire @ Nov 4 2009, 07:27 PM) Hi there. I had a lengthy conversation with James Quigley yesterday. He says there isn`t an exact equivalent to the `Agreement for Sale` concept in Ontario. It gets a little confusing to discuss with your Ontario lawyers because the standard contract Ontarians use to buy a property is called an `Agreement of Purchase and Sale`. An `Agreement for Sale` on the other hand is both a concept and a document.

The concept, both in Alberta and B.C., is the notion of purchasing a property with seller financing where title remains in the seller`s name and the buyer registers a notice on the title indicating that he has an interest in the property. Buyer gets possession and is responsible for all costs that any buyer would have such as taxes, insurance, upkeep plus his payment to the seller. That is the `Agreement for Sale` concept.

The `Agreement for Sale` document is a lengthy, complex document similar to a mortgage. Its purpose is to set out the terms of the seller financing, who is responsible for what costs, what is a default and what are the remedies and how the buyer eventually gets title to the property.

What James is thinking over is how to make the Agreement for Sale concept work in Ontario... How to figure out the documentation for a deal that is really a purchase with seller financing and a deferred closing date where buyer has control of the property. BIG NOTE: James reminded me, and I said it would pass it on, that there is land transfer tax in Ontario and that any buyer would most likely have to pay that tax. That is not written in stone, but he just wanted everybody to remember about land transfer tax. You folks in BC also have land transfer tax that will have to be considered as part of any Agreement for Sale type purchase.

I now am getting requests to do my `Deal-Ready Documents` Focus Workshop in both BC and Ontario. This Workshop is all about `Quick Turn` paperwork from the legal end, as well as Lease-Options and Joint Ventures. What attendees will get out of the Workshop is a deeper understanding of the Quick Turn concepts, along with usable copies of Quick Turn documents. The valuable result is the ability to explain deals to buyers and sellers, as well as to instruct your own legal counsel and, handily enough, give them some documentation that they can adapt your purposes. We are booked up until after Christmas so this will have to be in the new year. I will work hard with James Quigley in Ontario and Mark Warkentin in BC to try and get them my ideas and copies of documents that they can help you folks with both in Ontario and BC. That`s going to take some time and, Ron may actually do his boot camp Ontario or BC or both. My Focus Workshop makes more sense to attend after youve been to Ron`s boot camp.

That`s it for me I`m now off to the Edmonton REIN meeting.

Hope this helps,

Barry

Hi Barry,

Thank you very much for your reply. It would be very helpful if you could do a `Deal Ready Documents` workshop in early January in Ontario. There were many Ontarians present at the Ron LeGrand bootcamp in Edmonton last month and many of us have been in touch with each other to try to sort out the legal side of what we`ve learned. Five of us from Ottawa chose to attend after I called the REIN office to ask if we would have usable forms for Ontario and we were told that yes, we would have the forms we needed to do business. We only discovered that we would not have usable docs once we were in Edmonton.

I really appreciate your help and I look forward to having the forms we need as soon as possible. In the meantime my lawyer is doing some research for the Ottawa group. Please keep us posted on any developments for Ontario. Many thanks in advance.

Doris of Ottawa
 
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