An Agreement is signed conditional for the Buyer for 2 days after the Seller provides certain documents (such as survey and water heater rental to be assumed amount and buy out amount).
The Seller doesn’t provide items and closing day is coming up soon… while still conditional…because no documents provided.
What are the Buyer’s options?
The correct answer based on the Buyer’s rights may vary depending upon the exact wording contained in the Agreement of Purchase and Sale.
Right now, there are two conditions, both of which will expire on closing. Presently, the Seller is in breach of contract for failing to deliver copies of some documents.
The Buyer has certain rights:
- If they want to withdraw from the transaction, they should request the documents, tender on closing under protest and subsequently request the return of their deposit.
- If they want damages, then they should request the documents, tender on closing under protest and subsequently commence an action for damages leaving their deposit in the deal.
- If they want the property, then they should request the documents, bring an application in Court for production of the documents, tender on closing under protest and subsequently commence an action for specific performance leaving their deposit in the deal.
Assuming that the Buyer does nothing, then, the closing date arrives, the Seller tenders, the Buyer is out of time in terms of closing the transaction, and the Seller is entitled to keep the deposit and sue for additional damages
All of that would be avoided if the Buyer retains litigation counsel now and tenders under protest.
Brian Madigan LL.B., Broker