In cases where the failure to close the transaction was due to the buyer being unable to secure financing because their bank/financial institution refused to fund, this proved a lot trickier for those transactions.
Some Torontonians are opting out of the market to find greener (literally) pastures in cottage country. There are, however, some caveats and critical legal and practical issues that may affect your decision.
The interpretation of a “standard” clause by the court is always a coin toss. This is especially true as it relates to interpreting representations and warranties, as the decision in Beatty v Wei highlights.
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