My Canadian realtor says its ok, no need to sign a contract with the lawyer

Am scared

If you are scared, you should not do what you are thinking to do. For one, it sounds pretty scary to me to buy land over the internet. Have you actually been to the land? If not, don’t buy. Have you seen a land titles search and looked at notations and charges on title? How about local zoning? Utilities (well / municipal water, etc.)? Are you going to be on the hook for local improvement levies, either now or in the near future? Seen any appraisals or the like to give you some idea of the price asked as compared with the value of the property? Etc. etc. etc.

The way real estate deals happen (at least in BC) is that you get a lawyer (or a notary) to do the Land Titles documents so everything gets registered properly, but usually the realtors do the contract of purchase and sale. Usually this works out OK, but sometimes the realtors make a real mess out of the contracts and it all ends up in court. One main problem in that regard is scrawly hand written things that are scratched out, changed, and scratched out again, leaving everyone to wonder what people agreed to do. My opinion is that you should seek some legal advice from a local lawyer and, after speaking with the lawyer, decide who to hire or whether to hire anyone at all. Don’t buy a pig in a poke!

Duration : 0:1:49

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Duration : 0:9:55

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The parents would obviously have to vouchsafe the child on the lease.

If a Realtor gave a commission rebate back to the buyers of a property does the Realtor have the claim the entire commission as income, or just the portion he/she retains?

Who is paying the actual rebate you or the broker? If the broker is paying the rebate then it should be the net difference minus the rebate that is reported on your T4. If this is the case than I expect the gross commission would be paid directly to the broker and you would be paid the difference between the gross amount and what the broker takes out.
If you are directly in the Business of selling houses and are not employed by anybody than you would simply complete a Business return for taxes and declare all your gross revenues and subtract all your expenses including rebates.

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Training Video Example

London Ontario real estate agent, James Osmar and his team apply his London home selling system in the London Ontario Real Estate market. Selling primarily residential, condominium, multi family and investment property. Relocation services and a referral service for relocation are also a value added for the buyer and seller moving in and out of the London Ontario real estate market.

James has lived in London, Ontario and has been selling real estate there for over two decades and at times has been in the top 100 list for all of Canada with one of the largest sellers of real estate on the planet.

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Duration : 0:3:40

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Duration : 0:9:59

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