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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.
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Court Rejects Buyer’s Excuse for Refusing to Close
A Buyer can’t get financing and asks for a $130,000 price reduction. When that fails he refuses to close saying the lot size was smaller than advertised.
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