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:
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.
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:
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.
When the buyer won’t close, your life is put on hold and your future plans are threatened.
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.
A buyer’s nightmare – discovering a damaged foundation months after purchasing a home. Who is responsible for the hundreds of thousands in repair costs?
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.
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.