Over-Holding Seller and Related Problems

(Ontario)

The Sellers were to have vacated by 1:30 pm. The problem is that no one told them that including their own lawyer. Mid-morning on the day of closing, no one could have told them that it would have closed for sure at 1:30 pm. So, to a certain extent, it’s somewhat understandable.

Nevertheless, it’s a breach of contact. The Buyer is entitled to be compensated for their expenses and costs arising from this breach. The problem is that the amount is always small and usually doesn’t warrant suing in Small Claims Court for a few thousand dollars for extra moving expenses, storage, hotel and meals etc. So, the problem continues. This could easily be patched up with a different approach to closing the deal. In Ontario we currently have a very antiquated system.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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