When Disaster Strikes #490

A firefighter spraying water onto a house that has fire and smoke coming out of the windows

By Jennifer Clee B.A., LL.B. What happens when a property is damaged by fire before completion? Must the buyer complete or can the buyer walk? What if the buyer wants to complete with a price adjustment? A buyer’s options will depend upon a myriad of factors including the law, facts, contract terms and the parties’ conduct.