Why resort to the courts when a transaction involving a sale of a house falls through? This case shows it can be unnecessarily costly, says Bob Aaron.
Is it worth taking someone to court over a failed house purchase, assuming there appears to be grounds to do so?
Prior to closing, Chan and Hsiao discovered that the City of Toronto had four open building permit files and one active inspection file in its records for the property. Their lawyer sent what is known as a requisition letter to Mangal’s lawyer demanding that the city’s files be closed. The buyers were ready to close the transaction, but, understandably, refused to do so with the outstanding permits and two other liens still in place. Chan and Hsiao demanded a return of their deposit, but Mangal refused to agree, claiming he acted in good faith and that the deposit should be forfeited.
In July, the parties were back in court again arguing about court costs, and here is where it gets especially interesting. When the smoke clears, and assuming the winning buyers recover their costs from the seller, the buyers will receive back their deposit of $50,000, plus costs of $25,000, minus their lawyer’s bill of $70,000 , or almost nothing, unless their lawyer reduces her bill.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
2-time Olympic pole vault champion Bob Richards dies at 97His son, Brandon, wrote in a social media post that his father \u0022passed in his sleep peacefully surrounded by loved ones.\u0022
Lire la suite »
John Stamos To Talk Losing His ‘Best Friend’ Bob Saget In Upcoming MemoirJohn Stamos is ready to be an open book. The 'Fuller House' star posted the cover of his forthcoming memoir, If You Would Have Told Me, to Instagram and gave fans an idea of what will fill the pages. The book, which showcases a steamy Stamos on the cover, will tell a story of the…
Lire la suite »
'Absolutely unreal' photos show Northern Lights on display on the ground, in planes, even spaceA look at the science of the Northern Lights, why they’re so visible this week, and why they are likely to get even more so.
Lire la suite »
'Absolutely unreal' photos show Northern Lights on display on the ground, in planes, even spaceA look at the science of the Northern Lights, why they’re so visible this week, and why they are likely to get even more so.
Lire la suite »
'Absolutely unreal' photos show Northern Lights on display on the ground, in planes, even spaceA look at the science of the Northern Lights, why they’re so visible this week, and why they are likely to get even more so.
Lire la suite »
DEACHMAN: If not a joint commission on hip and knee surgeries, how about some transparency?Why isn’t the province making moves to deal with the surgical backlog directly through hospitals?
Lire la suite »