In Bilotta v. Booth, 2020 ONCA 522, the Ontario Court of Appeal determined that the buyer did not have the right to refuse to close a transaction on the basis that they had not been provided with timely notice of water damage from a basement flood.
What recourse do you have when your commercial neighbour decides to unilaterally remove parking that you both share?
An Agreement of Purchase and Sale is just like any other legal contract: Once duly signed, it is binding and must be honoured according to its terms. In a recent case, the seller of a home learned this principle the hard way.
One of the most significant pieces of law affecting Realtors in Ontario received Royal Assent in March: the Trust in Real Estate Services Act, 2020 (TRESA), repealing and replacing the Real Estate Business and Brokers Act, 2002 (REBBA).
The plaintiff, Niu, was a well-known Chinese-speaking real estate agent in Oakville, Ont., with a base of Chinese-speaking clientele. The defendant, Cao, had used Niu's services to find and purchase a home.
An “unconditional” offer is one that is made without any conditions attached – such as the buyer first being able to obtain financing, obtain a satisfactory home inspection, sell their existing home and/or other stipulations.
In Kazakevich v. Sychev, the Ontario Superior Court of Justice affirmed when an Agreement of Purchase and Sale (APS) will be kept alive, preventing a buyer’s release from their contractual obligations.
From what I have read, the demand for cottage properties has soared during COVID-19. City folk are eager to get out of the city for a change of scenery, especially since many people are still working from home.
What obligations do sellers and buyers have in a real estate transaction when the property has been accidentally damaged – such as by a fire – prior to closing?
Can real estate developers demand they be given the option of paying cash-in-lieu rather than conveying away valuable land?