Collapsed Sale

Collapsing Deals: A Refresher on the Common Law Principles #524

The current situation with COVID-19 has led to daily changes in the way we live our lives and conduct our business. The rapid changes and daily announcements have led to a lot of uncertainty and questions. In periods of flux, whether economic, political or social, we often see a greater number of collapsing real estate

Collapsed Sale — Remarketing and Reasonable Mitigation #440

Legally Speaking

By Edward L. Wilson The falling market of 2008 saw a number of buyers refusing or unable to complete their purchases and sellers were often electing to terminate their contracts, relist and sell their property. Sellers then often sued the defaulting buyer for damages, being the difference between the original sales price and the ultimate

Purchaser's Knowledge of When Approval of Financing Given; Criminal Rate of Interest; Is an Application to Discharge a Mortgage Sufficient Evidence of Clear Title? #194

Legally Speaking

By Gerry Neely B.A. LL.B What are the legal consequences for a purchaser whose Contract of Purchase and Sale was subject to raising a mortgage by October 19, 1990, when the purchasers were not made aware that the mortgage had been approved by that date. The purchasers contracted to use their best efforts and it