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Debra, Lawyer
Category: Canada Law
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Experience:  Lawyer
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Do the situation at that time, the home was purchased in

Customer Question

do the situation at that time, the home was purchased in private deal with out any conditions, hoping to sell they home which had a offer with realtors on condition of financing, financing didn't go thru. As the possession of the purchased home is near and the the purchaser home is not sold and the purchaser can not afford 2 mortgages.......what the law saying about this situation and what be the best solution......Thank you
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

The law is clear and unfortunately the purchaser can be sued to compel the purchaser to buy the home.

When there is an offer that is unconditional the offer is final and binding and any breach of the contract can be to lawsuit for damages. It may be best for the purchaser to seek bridge financing so that they have essentially two mortgages but just for short period of time.

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