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When the deal won’t close, we will fight for your rights.
With 18 years of litigation experience, lawyer Mark Yazdani will provide you with
practical advice and stellar legal representation with your real estate litigation
matter.
For a free and confidential consultation get in touch with us.
When The Buyer Won’t Close
You have completed the sale of your property and the purchaser refuses to close the transaction.
Whatever the reason for refusing to close, you may have a right to keep the deposit and also bring a lawsuit against the purchaser for damages. Examples of damages include:
- You are forced to re-list the property on MLS and ultimately sell the property at a lower amount. You may be able to sue the buyer for the difference in property value
- You may be able to sue the buyer for your expenses in being forced to continue carrying the property, including mortgage interest, property tax, hydro bills, maintenance costs, insurance premiums, and legal fees
Note that even if the buyer is found to have wrongfully breached the agreement, they may still try and argue that the seller re-sold the property at an unfairly low price or otherwise did not make best efforts to get the highest possible value for the property when reselling.
If the Buyer won’t close call lawyer Mark Yazdani for a free and confidential consultation regarding your case: 416-630-8880.
When The Seller Won’t Close
You have purchased a property such as a house, cottage or condominium and the seller refuses to close the transaction.
If the seller attempts to cancel the agreement of purchase and sale then you may have a number of remedies, including:
- Demanding the return of your deposit
- Commencing a lawsuit to force the seller to complete the transaction
- Bringing a lawsuit for damages incurred
Courts do have the discretion to force the seller to close the sale. They will look at a number of factors including the uniqueness of the property and the behaviour of the parties. The court may examine how long it took for the buyers to find the property and how many other properties the buyer looked at.
If the Seller won’t close call lawyer Mark Yazdani for a free and confidential consultation regarding your case: 416-630-8880.
Recent articles
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Buyer’s Remorse – Backing Out of a Deal the Next Day
A Buyer tried to back out of an Agreement of Purchase and Sale the day after she signed it. The Seller resold the property for $140,000 less and sued for the Buyer for damages.
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Reasons Why the Buyer Refuses to Close
When the buyer won’t close, your life is put on hold and your future plans are threatened.
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Reasons Why the Seller Refuses to Close
Suddenly you receive notice that the seller is backing out of the deal and won’t close. All your plans are put on hold and your life is thrown into turmoil.
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Buyer discovers Major Foundation Defect Months after Purchase
A buyer’s nightmare – discovering a damaged foundation months after purchasing a home. Who is responsible for the hundreds of thousands in repair costs?
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Buyer Refuses to Close Resulting in $610,000 Loss
A Buyer tries to back out of a sale claiming that the Seller won’t agree to help with a severance application. He sues to get his $150,000 deposit back. Instead, the Court finds him liable for over $600,000 in damages for refusing to close.
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Seller Backs Out of Deal After HST Dispute
When the Seller discovers that HST is payable on the sale, he refuses to close. The Buyer sues in Court and asks for Specific Performance.