Nov 3, 2022
In the past, the Direction Regarding Presentation of Offers (DRPO) form would notify interested parties when the offers on a home would be viewed. This would allow buyers to view the property and decide if they should invest. However, if the sellers received a strong offer during this period, the DRPO form could be revoked or changed.
James and Denny explain how the Irrevocable Direction Regarding Presentation of Offers differs from the previous form and share how the extra limitations put in place could affect you when buying or selling a home.
This episode will cover the definition of a bully offer, the importance of communication between selling and listing agents, instances where this new policy can benefit or hinder those involved, loopholes that Realtors can find to bend the rules, the issue of who will enforce these new initiatives, and the upcoming cooling-off period starting in January.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel - https://www.youtube.com/channel/UCHK2L-KswYO93195yndFAmA
Email us at garbuttdumaspodcast@gmail.com
James Garbutt
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Denny Dumas
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Monica Harmse
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Website: https://moodyproperties.ca
Garbutt + Dumas Real Estate
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Website: http://www.garbuttdumas.ca