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Mar 5, 2024 · If an agreement of purchase and sale is breached by a seller, a buyer may seek to enforce the contract through specific performance.
Sep 4, 2020 · When parties enter into an Agreement of Purchase and Sale (APS) for a residential property, there are consequences for breaching the agreement by failing to complete the transaction. Often, it will be the purchaser who breaches an agreement, due to a failure to secure sufficient funds on time.
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Oct 29, 2021 · The Ontario Court of Appeal (ONCA) in Ching v. Pier 27 Toronto Inc., 2021 ONCA 551 (CanLII), recently outlined the options an innocent party to an agreement of purchase and sale (APS) has upon the other party breaching (i.e. repudiating) the APS. General Principles.
Apr 5, 2022 · When a seller is unable or unwilling to close on the sale of a home, the buyer may need to respond quickly. If you are a realtor, recommend the buyer obtain legal assistance without delay, especially if it is unlikely the buyer will be able to purchase a comparable home.
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Jun 21, 2021 · The precise wording of any conditions included in an Agreement of Purchase and Sale (APS) is particularly important, as a buyer may have an obligation to provide written notice of the fulfilment of the conditions by a stated deadline, failing which the agreement becomes null and void.
Feb 16, 2021 · A buyer cannot argue with the resale value obtained by the seller, unless: The buyer provides their own market evaluation or expert evidence from a realtor about the value of the Property and that that the seller could have obtained a higher price whether through exposing the property more widely or taken additional marketing steps; and
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Apr 30, 2021 · Where a buyer gives a seller or vendor a deposit to secure the performance of a contract for purchase and sale of real estate, the deposit is forfeited if the purchaser refuses to close the transaction unless the parties bargained otherwise (normally, by stipulating this in the contract or the Agreement of Purchase and Sale).
