When a buyer fails to close a real estate transaction and the seller is awarded damages, should the seller credit the deposit to the damages award or should the seller be allowed to keep it in addition to the award?
The Court of Appeal found that the phrase “without any personal liabilities” was to be interpreted in the context of a contract as a whole, not applying just to the deposit.
In Ngai v. Fufa Limited, the Ontario Superior Court of Justice decided that the absence of a valid agreement between a seller and her agent invalidated the agent’s claim to commission from a sale.
When acting for both a seller and a buyer, what duties does a real estate agent owe to his or her clients if a property disclosure statement, known as a Seller Property Information Sheet (SPIS) in Ontario, is signed?
Nothing dampens the excitement of a sale like the sudden realization that you’ve made a mistake.
When parties co-own real property as joint tenant or tenants-in-common, it can become messy really quickly when one of those parties wants to opt out of the co-ownership but the other does not.
When can a sale under a Power of Sale fail? This was the central issue that the Court of Appeal addressed in the 1173928 Ontario Inc. v. 1463096 Ontario Inc decision.
What do you do when your purchaser refuses to close on an Agreement of Purchase and Sale (APS) because the driveway is smaller than they originally thought?
In cases where the failure to close the transaction was due to the buyer being unable to secure financing because their bank/financial institution refused to fund, this proved a lot trickier for those transactions.
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