News Bulletin - December 22, 2021

COVID-19 Update: December 22nd, 2021
Everything You Need to Know for January 3rd

COVID-19 Update: December 22, 2021

Office Closure

Due to the increase in cases of COVID-19, the Commission office is until further notice. Staff are working remotely.

If you have any questions during the office closure, contact the Commission staff by email or call the main office line and direct your voicemail to the appropriate staff member. Voicemails will be monitored.

The regular holiday closure begins at noon on Friday, December 24th, 2021. Staff will resume work on Tuesday, January 4th, 2022 at 8:30 a.m. If you have time-sensitive inquiries during the holiday closure, This email address is being protected from spambots. You need JavaScript enabled to view it. The Commission wishes everyone a safe and happy holiday season. 

COVID-19 Update: December 22nd, 2021

On December 21st, 2021, the government announced additional restrictions, effective today at 6 a.m. They will be in place until at least January 12th, 2022.

Indoor and outdoor informal gatherings are now limited to 10 people (this applies to viewings and open houses.

Requirements for physical distancing and masking remain in effect. The existing travel restrictions that may require individuals coming into Nova Scotia to self-isolate, depending on vaccine status, is still in effect. 
Premier Tim Houston said, "we need further restrictions to ensure everyone slows down, reins in their socializing, and limits opportunities for the virus to spread."

Licensees are encouraged to minimize in-person meetings, and to use virtual tools and platforms whenever possible to help stop the spread of COVID-19 and the Omicron variant. Licensees are to educate themselves and their consumers about the current COVID-19 guidelines and restrictions so they can make informed decisions. Licensees are to follow the directives of the provincial and federal government.

The Commission reminds licensees that if an individual has been instructed to isolate due to a confirmed case of COVID-19, while awaiting test results, or as otherwise instructed by public health, they must remain home, without visitors. All close contacts of confirmed cases, including those who are fully vaccinated, now need to isolate until they have a negative result from a lab-based (PCR) test. The lab test should be performed at least 72 hours after the exposure. Public health strongly recommends regular rapid testing for all Nova Scotians.

COVID-19 Resources

The Commission is continuing to monitor the COVID-19 orders, directives and guidelines from the government. We will continue to communicate with the industry as information is made available.

Everything You Need to Know for January 3rd

As previously announced by the Commission, effective January 3rd, 2022, significant changes are being made to the process of satisfying buyer's conditions in the Agreement of Purchase and Sale.

Per the changed clauses in the Agreement of Purchase and Sale, the new process will require a buyer to provide the seller or seller's agent with written confirmation (Form 408) that they have satisfied their buyer's conditions before the condition deadline. This means the buyer’s agent must confirm that their buyer is satisfied with the applicable buyer's conditions and if satisfied, complete Form 408(s), have their buyer sign it, and relay it to the seller or seller’s agent before the condition deadline(s). If Form 408(s) is not relayed to the seller or seller’s agent by the condition deadline(s), the agreement is deemed terminated.

To view the video about the change's to buyer's conditions,  click HERE.

To view all the information on the change's to buyer's conditions, including an updated Q&A, click HERE.

To view all the forms changes, click HERE.

Key things to remember: 

  • January 3rd, 2022 is when the new process goes into effect and revised forms become mandatory.
  • Buyers still have their list of conditions to satisfy and their deadline.
  • There are specific conditions that are impacted by this process.
  • This new form is required to waive the buyer’s conditions from the Agreement of Purchase and Sale. Failure to provide written notice of satisfaction (Form 408: Buyer Waiver of Conditions) now means the agreement shall be deemed terminated.
  • Once the buyer is satisfied with their conditions, they must complete and sign Form 408: Buyer Waiver of Conditions, and provide it to the seller or seller’s agent on or before the condition deadline.
  • The buyer has the ability to propose an amendment without the seller being able to trigger a termination over notice of dissatisfaction.
  • The buyer still has the ability to terminate the agreement prior to the specific buyer’s condition deadline, however, the seller does not.
  • Remember: No news means you lose!
  • The clauses on lawyer review, title investigation and the estoppel certificate in the condo schedule have not changed, and still use the process of notice of dissatisfaction/objection.
  • As a reminder, licensees are to ensure their client's lawyer is provided with all necessary real estate transaction documents including any and all competed and signed Form 408s.

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