When it comes to buying or selling a house, be aware that deadlines are generally ironclad, legally speaking

by admin | Mar 16, 2024 | 2024 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Is ‘time of the essence,’ legally speaking, in a residential real estate transaction? Past precedents suggest it is and that deadlines must be adhered to. Virtually every real estate purchase agreement contains a clause which says that time is of the essence of the...

Will this actually deter developers from scrapping purchase agreements so they can resell condos at higher prices?

by admin | Mar 2, 2024 | 2024 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Court case should dissuade developers from cancelling condo sales deals so they can resell the units at higher prices when the price for condos rises. A British Columbia court decision last month should be a deterrent to condominium developers who might terminate...

What’s that doing there? Will it stop me building on my property?

by admin | Feb 17, 2024 | 2024 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Huge numbers of Ontario property owners, especially in rural areas, may face issue of Hydro poles on their land ostensibly blocking construction plans. What can a property owner do if his property contains an unauthorized hydro pole which interferes with plans to...

What do you do when you are stuck with a pre-construction home or condo?

by admin | Feb 3, 2024 | 2024 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Petrified buyers facing prospect of being unable to raise cash needed to close, while higher interest rates are making occupancy fees sky-rocket. A common problem today for would-be buyers of pre-construction homes or condominiums is when the property values have...

Who is responsible when buyers lose their deposits on pre-construction houses?

by admin | Jan 20, 2024 | 2024 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Regulators, government, real estate agents involved, even buyers, themselves, could share responsibility for the whopping losses. When 28 buyers lose a combined $5.4 million in deposits on pre-construction houses, it is tempting to wonder who is at fault. Last month,...