by James R.G. Cook | Feb 27, 2025 | Legal Issues
QUICK HITS A buyer who failed to close on a Burlington property due to lack of funds attempted to rely on legal defences of force majeure and frustration, citing difficulties accessing inherited money from Afghanistan and a failed sale of another property. The...
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 | 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...
