Ontario Balance to Vendor - Excess Funds Process

Agents must follow this process when the Deposit held in Trust by Real on the transaction is greater than the commission owing:

1. Agent must help their client with completing and signing “Client Funds Authorization Form” before closing, or as soon as possible
2. Agent uploads a complete signed copy to reZEN under the checklist titled “Client Funds Instructions”

Agents must follow this additional step if Balance to Vendor (Excess Funds) are being paid to ANYONE other than ALL Sellers on the Agreement of Purchase and Sale:

1. If ANY party other than ALL sellers is to receive funds the “Letter of Direction of Disbursement of Funds” must be fully completed signed and uploaded to checklist item “Client Funds Instructions”

NOTE: Balance to Vendor CAN NOT be processed without proof of deposit, Client Funds InstructionsAND Lawyer Release Letter. Complete Client Funds Authorization Form and upload it to “Client Funds Instructions” Checklist item.