February 19, 2020

Can I Walk away from a deal because of an Easement?

Joo v. Tran, 2002 ONSC 806

Sellers seek damages for a failed transaction.

Buyers argue that they raised requisitions allowing them to terminate the agreement.

Survey disclosed 4 easements which were “material”.

Buyer’s sol...

December 20, 2019

Exec Summary: Assignment listed on MLS, contract did not permit.

Summary:

Buyer seeks the return of monies paid in accordance with the Agreement of purchase and sale which was terminated by the seller for alleged defaults by the Buyer.

Seller seeks a declaration that the...

December 18, 2019

Summary:

Appellant claims the Agreement of purchase & sale was frustrated. Or alternatively, that there was an IMPLIED condition in the agreement that the offer was conditional on the sale of her home and for financing.

Originally, the home was listed for sale March 2017...

December 4, 2019

CASE:  Issa v. Jarrah, 2019 ONSC 6744 Summary: Buyer sues for a declaration that the agreement of purchase and sale is null and void and seeks rescission and sues for the return of the $50,000 deposit plus interest. Keller Williams Agency acted for both the Seller(s) a...

November 8, 2019

Sankarsingh v. Ali, 2019 ONSC 5655

SUMMARY: Firm offer, buyer failed to close.

Sellers claim that the only reason the Buyers failed to close was “because they came to regret entering the agreement after an unexpected downturn in the real estate market”.

Buyers plead that...

November 8, 2019

SUMMARY:

Buyer purchases property and was unable to obtain financing. Transaction failed to close. Seller resold property for a lower price and sues for the difference in the purchase price as well as other costs.

Buyer commenced a claim against the Real Estate Agents re...

September 18, 2019

SUMMARY:
On June 30, 2017, the defendant, Lakhany agreed to purchase a residential home from Arista Homes with $100,000 in deposits and scheduled to close June 19th, 2018 - Buyer fails to close.

https://www.youtube.com/embed/NT-M_hjqVqE

Arista seeks to recover damages fo...

July 30, 2019

MUST READ CASE: Forest Hill Homes v Ou, 2019 ONSC 4332

KEY WORDS: Bribes; Frustration/force majeure – Changing Market Conditions; New Build, Delayed Closing; Misrepresentation by the Seller’s sales agent; Interest Payable on Default

Summary/Key Principles:

Buyer failed to...

July 18, 2019

Excellent review of Deposits/Relevant precedents & principles:

Overview: 


Failed Real Estate Transaction – applicant brings an application for a declaration that they are entitled to deposits paid by the Respondent pursuant to the APS, totaling $400,000.

Summary/excerpts...