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Failure To Close On A Condo Sale

Toronto Condo News
Publication date:
July 23, 2022
Article Summary: 

This blog post discusses the implications of a buyer's failure to close on a condo sale. The post explains that if a buyer fails to close, the seller can claim damages and losses resulting from the breach of contract, including any costs incurred due to the failed sale. The post suggests that sellers may also be entitled to keep the buyer's deposit as compensation for the breach. Additionally, the post discusses the potential consequences for buyers who fail to close, such as losing their deposit and facing legal action from the seller. The post emphasizes the importance of carefully reviewing and understanding the terms of a purchase agreement before signing to ensure that both parties are aware of their rights and obligations.


condo sale, buyer, failure to close, seller, damages, losses, breach of contract, costs, deposit, compensation, consequences, legal action, purchase agreement, rights, obligations.

Source Citation: 
Toronto Condo News
Failure To Close On A Condo Sale
July 23, 2022
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