Comments on: Buyer doesn’t close, liable for property value loss of over $330,000 https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/ Canada’s premier magazine for real estate professionals. Wed, 25 Sep 2024 16:37:02 +0000 hourly 1 https://wordpress.org/?v=6.6.2 By: Jeff Miller https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/#comment-20173 Wed, 25 Sep 2024 16:37:02 +0000 https://realestatemagazine.ca/?p=33773#comment-20173 Further hmmm… maybe not so cut & dried – things to further consider are real estate contract – was it standard industry form with defined close/failure to close & remedy clauses? Further what about seller attempt to mitigate loss. Also apparent cloudy communications/process attendant to preclosing & closing

]]> By: Russ https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/#comment-20167 Fri, 20 Sep 2024 02:40:42 +0000 https://realestatemagazine.ca/?p=33773#comment-20167 In reply to Jeff Miller.

Doesn’t matter what the circumstances were, bottom line is it was an agreed price and possession date and the buyer walked away.
Who cares if it was multiple offers and a frenzy in the market at that time. I actually seen at the peak of the market a buyer with no other offers on the table offer 50,000 more then the list price. I don’t know why the buyer did that and I can only assume because of the hysterical market conditions the buyers thought the seller wouldn’t except an offer at list price. Strange things happen in hysterical markets

]]> By: Mohammad Niaz https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/#comment-20144 Wed, 28 Aug 2024 00:26:01 +0000 https://realestatemagazine.ca/?p=33773#comment-20144 My 2 cents ! Why both sellers and buyer’s negotiated too long date of closing. During this long almost five months may change the market and then it happens.

]]> By: Jeff Miller https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/#comment-20142 Mon, 26 Aug 2024 17:31:34 +0000 https://realestatemagazine.ca/?p=33773#comment-20142 HMMMMM…..Seems a lot going on here. Did “The Market” actually drop around 30% over 4 months in Kitchener? How efficacious was the resale effort? If the lender felt the price was too high what were the circumstances to pay so much in the first place? Multiple offer situation? Big potential danger in unconditional offers. Also can be so complicated with chain link sales

]]> By: D R Reality https://realestatemagazine.ca/buyer-doesnt-close-liable-for-property-value-loss-of-over-330000/#comment-20140 Mon, 26 Aug 2024 12:20:33 +0000 https://realestatemagazine.ca/?p=33773#comment-20140 Words do matter , as it turns out.

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