Pollard v. Perry
Ms. Perry submitted an Offer on10 Golfview Drive, Collingwood, Ontario. The listing price was $995,000. The sale price agreed to was $1,050,000.00. The agreement was unconditional.
Actually, the deposit was missing. It was never paid. That meant that the Buyer was immediately in breach of contract.
Ms. Perry thought that she paid too much so she didn’t deliver her deposit in the amount of $50,000.00. She wanted to continue to negotiate and have the Seller reduce the price by $100,000.00. You have to admit that’s a rather cavalier and unusual approach to doing business.
Property 10 Golfview Dr. Collingwood
List Price $995.000.00
APS date 21 June 2021
Closing Date 17 September 2021
Breach of Contract Date 22 June 2021
Relist Price $1,100,000.00
Reduced Listing Price $995,000.00
Second Sale Price $910,000.00
Judgment $140,866.11 plus prejudgment and post judgment
Court Date 6 September 2021
Decision Date 14 September 2021
Duration of Court Time 2 hours
This case was Pollard v. Perry and was heard by way of a motion for Judgment not a Trial.
So, Pollard needs to sell the property to someone else and have that deal close. That’s when he will know what his loss amounts to. Then, it will be necessary to sue. An Affidavit of Documents needs to be prepared by each party. Then there is an opportunity for the lawyers to examine the other party under oath. So, that’s a full day, one party in the morning, and the other party in the afternoon. Then, the motion is scheduled.
In this case, it was heard about one after the original closing date.
The Seller had the lotto ticket in hand and now is entitled to over $160,000.00 plus interest. The motion in Court would take about two hours.
In many situations, people will simply say “give up” and “it’s not worth suing”, and “you will be tied up in Court for years” and “it will cost a fortune”.
None of these “people” are litigation lawyers. Consult one before giving up! And, if you are a real estate agent “don’t give out crazy advice”!
Brian Madigan LL.B., Broker
Breach June 2021 not 2022