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24 Jun

Relief from forfeiture not granted where buyer claimed lack of capacity to enter into real estate purchase agreement

Friday, June 24, 2022James R.G. CookLitigationAgreement of Purchase and Sale, Real Estate, Courts of Justice Act

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As real estate markets fall, buyers are sometimes left scrambling to find alternate sources of financing when the available mortgage funds turn out...

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23 Jun

Lawyer not vicariously liable to opposite party in failed real estate transaction

Thursday, June 23, 2022Stephen A. Thiele, James R.G. Cook, Daria RisteskaLitigationRules of Civil Procedure, Agreement of Purchase and Sale, Real Estate

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There appears to be a growing propensity on the part of litigants to sue the opposite party’s lawyer when a transaction fails or something else...

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21 Jun

Buyer breached duty of good faith in failing to complete assignment agreement

Tuesday, June 21, 2022James R.G. CookLitigationAgreement of Purchase and Sale, Town of Caledon, GTA Real Estate

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Buyers of pre-construction properties in Ontario sometimes enter into an assignment agreement with another buyer before the completion...

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15 Jun

Neighbour’s “management plan” did not improperly divert equity from plaintiff’s property

Wednesday, June 15, 2022James R.G. CookLitigationAgreement of Purchase and Sale

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The case of Rivas v. Anobile2022 ONSC 3446 (CanLII), demonstrates the issues that may arise when all the terms and objectives of an...

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14 Jun

Environmental assessment firm not liable to buyer who did not commission their report

Tuesday, June 14, 2022James R.G. CookLitigationAgreement of Purchase and Sale

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Buyers should be wary about relying on inspections, appraisals or other reports prepared by a company with whom they have not directly...

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6 Jun

No “waiver by conduct” of financing condition in agreement of purchase and sale

Monday, June 6, 2022James R.G. CookLitigationCondominium, Agreement of Purchase and Sale, Real Estate

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With the cooling of the real estate markets, buyers may be in a position to negotiate a limited time period to have a home inspection, arrange financing, or complete other due diligence before...

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17 Mar

Property developer awarded $11 million in lost profits against seller who refused to complete transaction

Thursday, March 17, 2022James R.G. CookLitigationAgreement of Purchase and Sale, Real Estate

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When a seller breaches an Agreement of Purchase and Sale (APS) by refusing to complete the sale of a property to a buyer, the buyer is generally entitled to the return of...

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8 Mar

Court refuses to impose 5 pm deadline for delivery of real estate closing proceeds

Tuesday, March 8, 2022James R.G. CookLitigationAgreement of Purchase and Sale, Real Estate, GTA Real Estate

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Real estate transactions may be scheduled to be completed by a certain time of day, depending on the wording of the Agreement of Purchase and Sale (APS). In some cases,...

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29 Nov

Sellers not allowed to rely on “escape clause” to accept a better offer

Monday, November 29, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, GTA Real Estate

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In some cases, sellers may wish to ‘hedge their bets’ by accepting a conditional offer that contains a term allowing them to continue to market the property for sale until... 

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26 Oct

Buyers bound to agreement of purchase and sale negotiated by family friend

Tuesday, October 26, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, GTA Real Estate

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Buyers who rely on real estate services provided by a family friend would do well to ensure that they are fully aware of the consequences of entering into a...

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11 Aug

Buyer entitled to repudiate agreement after discovering water damage

Wednesday, August 11, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, GTA Real Estate

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During the period between the time an Agreement of Purchase and Sale (APS) is signed and the completion date, a property being purchased usually remains in... 

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3 Aug

Buyers lose right to recover deposit after seller breaches agreement

Tuesday, August 3, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale

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After an Agreement of Purchase and Sale (APS) is signed and a deposit is paid it may be weeks or months before the scheduled completion date. In the case of new properties under construction, it could be...

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2 Jul

Seller entitled to repossess townhouse after buyer fails to complete purchase

Friday, July 2, 2021James R.G. CookLitigationAgreement of Purchase and Sale, Real Estate, GTA Real Estate

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Sales of new condominiums and townhouses may sometimes allow a buyer to move into a unit on an “interim occupancy date” which may be several months before the purchase is scheduled to be finally...

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4 Jun

Buyer’s failure to waive conditions nullifies agreement of purchase and sale

Friday, June 4, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, Land Title Act, GTA Real Estate

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While conditional offers may be rare in the Greater Toronto Area, where multiple bidders compete for most properties, buyers in less heated markets may...

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25 May

Buyer loses $100,000 deposit after refusing to purchase condominium

Tuesday, May 25, 2021James R.G. CookLitigationAgreement of Purchase and Sale, Ontario Court of Appeal , Real Estate

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It is settled law in Ontario that when a buyer fails to complete an agreement of purchase and sale, the seller is entitled to retain the deposit without having to prove any loss. This means that... 

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3 May

Buyers’ liability to sellers in aborted real estate transactions - Part 2

Monday, May 3, 2021James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, GTA Real Estate

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We have previously addressed a number of circumstances in which buyers unsuccessfully attempted to back out of a binding Agreement of Purchase and Sale (APS) for the purchase...

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7 Apr

Owner of corporation personally liable for litigation misfeasance

Wednesday, April 7, 2021James R.G. CookLitigation, Real EstateOntario, Agreement of Purchase and Sale, Personal Liability

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One of the perceived benefits of using a corporation for real estate or other business transactions is to shield the individual owner from personal liability for costs and other...

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22 Dec

Seller Not Responsible for Zoning or Future Use Limitations of a Property

Tuesday, December 22, 2020James R.G. CookLitigation, Real EstateOntario, Agreement of Purchase and Sale, Zoning By-Law

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A recent decision of the Ontario Superior Court of Justice affirmed that preliminary discussions between a buyer and seller regarding the potential zoning or...

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2 Dec

Misrepresentation in Square Footage leads to Rescission of Agreement of Purchase and Sale

Wednesday, December 2, 2020James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, Ontario Court of Appeal , Stouffville, Misrepresentation

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A misrepresentation by the seller and real estate agent as to the square footage of a residential property in Stouffville, Ontario resulted in the rescission of the Agreement of Purchase and Sale... 

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23 Oct

Discovery of Water Damage Insufficient to Terminate Real Estate Purchase Transaction

Friday, October 23, 2020James R.G. CookLitigation, Real EstateFlooding, Insurance Policy, Agreement of Purchase and Sale, Damages

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In Bilotta v. Booth2020 ONCA 522, the Ontario Court of Appeal determined that the buyer of a residential property did not have the right to...

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20 Oct

Real Estate Investor’s Claim for Lost Opportunity Damages Rejected

Tuesday, October 20, 2020James R.G. CookLitigation, Real EstateAgreement of Purchase and Sale, Damages

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In Akelius Canada Inc. v. 2436196 Ontario Inc., 2020 ONSC 6182 (CanLII), the Ontario Superior Court of Justice...

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2 Sep

Buyer’s Claim for Lost Value Damages of a Residential Subdivision Home

Wednesday, September 2, 2020James R.G. CookLitigation, Real EstateContract Law, Agreement of Purchase and Sale, Damages

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The party seeking damages arising from a failed real estate transaction is often the seller, who seeks to recover the agreed-upon sale price from a buyer. Conversely, when a seller breaches the agreement...

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