For Your Protection Only, Do you have this type of protection when dealing with private sales?
"Friday, January 18, 2013 (Toronto) – The Director, under the Real Estate Business Brokers Act, 2002 (REBBA 2002), issued an order today to freeze the bank accounts of Graydon Hill Realty Ltd., a Toronto-based brokerage registered under REBBA 2002.
A Real Estate Council of Ontario (RECO) inspection identified irregularities in the bank accounts of Graydon Hill Realty Ltd., which led to the freeze order.
A freeze order is issued to prevent further funds from being withdrawn from a brokerage account. The Director takes this step in order to protect consumers and other stakeholders. RECO will continue to post updates into this matter as they become available."