SUMMARY: sellers pursue the purchasers for declaratory relief and damages arising from the alleged breach of the Agreement of Purchase & sale caused by the Buyer's failure to close.
INTERESTING POINTS & OUTCOMES: 1) On closing day, Buyer’s Lawyer advised that his clients’ position was that the Agreement is null and void ab initio on the following grounds: a. The statement in the MLS listing that the approximate square footage was 2000-2500 sq. ft. was incorrect. – The Buyers rely upon a floor plan for the Property that was prepared for use on the subsequent sale which showed that the square footage of the Property was 2,318 sq. ft. They submit that this should have been included in the original MLS listing - REJECTED: There was no obligation on the part of the plaintiffs to specify the precise area of the Property in the MLS listing. The evidence shows that the defendants inspected the Property for one hour on April 23, 2017. It was for the defendants, as purchasers, to investigate, if they were not satisfied with the description of the Property in the MLS listing. b. The plaintiffs had failed to provide a survey of the Property, notwithstanding paragraph 12 of the Agreement - REJECTED c. A provision with respect to inspection which was struck out from Schedule A to the Agreement runs counter to paragraph 13 of the Agreement - REJECTED Disposition - summary judgment for the following relief granted: a. A declaration that the Agreement is valid and subsisting and that the defendants breached their obligations under the Agreement; b. A declaration that the deposit of $40,000 paid by the defendants is payable to the plaintiffs as a result of the defendants’ breach of the Agreement; c. Damages in the amount of $154,256.38.