Oakville Real Estate News

What If Your Real Estate Deal Gets Cancelled?


Blog by Joette Fielding | September 21st, 2017


Cancelled real estate deal.jpgA rapidly changing and volatile real-estate market makes it more likely that deals will be cancelled, with painful consequences such as lost deposits.  The buyer who does not carry through on his obligations almost always loses his deposit, and may be forced to pay additional damages to the seller.  

Some buyers were overenthusiastic and regret having bid high at the top of the market.  In other cases, a buyer may not have arranges all the financing that was needed.  You may get into trouble if you need to sell your present property to move up to another one.  The buyer of your house may fail to carry through, leaving you with insufficient funds to close the deal on the house that you had agreed to purchase.

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