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If neither party is ready to close, who’s on the hook for the failed deal?

If neither party is ready to close, who’s on the hook for the failed deal?

by James R.G. Cook | Jul 28, 2025 | Columnists, Legal Issues

When a real estate deal in Bowmanville, Ont. fell apart, neither the buyer nor the sellers were ready to close on the extended date, and no one took formal steps to keep the deal alive. The court ruled that since key conditions like a lease weren’t met and both sides...

Vendor take-back mortgages surge as traditional lending tightens

Vendor take-back mortgages surge as traditional lending tightens

by Chris Mac Neil | Jul 7, 2025 | Advice for Agents, Guest Columns, News

Seller-financed deals—specifically vendor take-back (VTB) mortgages—aren’t just surviving in Canadian real estate. They’re booming. According to CoStar Canada, VTB transaction volume surged from $767 million in 2021 to $3.5 billion by the end of 2023, marking a nearly...