by James R.G. Cook | Nov 22, 2024 | Legal Issues
Cases arising from failed residential real estate transactions in a falling market reaffirm that buyers who breach purchase agreements may face significant financial repercussions. Often, buyers argue that sellers have failed to mitigate losses by not re-listing the...
by James R.G. Cook | Nov 7, 2024 | Columnists, Legal Issues
QUICK HITS In Langen v. Sharma, buyers who agreed to purchase a $2.9-million home later discovered discrepancies in the listing’s tax and square footage information, affecting their financing. They requested a price reduction and an extension, which the sellers...
by James R.G. Cook | Oct 29, 2024 | Columnists, Legal Issues
QUICK HITS A Realtor misrepresented the location of a new-build property to buyers, leading them to believe it was in Brampton when it was actually in Caledon, three kilometres away. After discovering the mistake, the buyers sued, and the Ontario Court of...
by James R.G. Cook | Sep 27, 2024 | Legal Issues
QUICK HITS Property owner (Kranenburg) overburdened shared laneway by increasing traffic; ruling limits use of laneway to reduce disruption to neighbours (Grices). Court sided with Grices, stating laneway’s use must revert to original purpose of serving a summer camp,...
by James R.G. Cook | Aug 22, 2024 | Legal Issues
QUICK HITS Anticipatory breach risk: Buyers requesting changes to a purchase agreement, such as a reduced price, may be seen as committing an “anticipatory breach,” allowing sellers to back out and even sue for damages. Court sides with sellers: A...
