The sellers were thrilled to find out the buyers wanted to perform their inspection right away. The buyers showed up with an inspector and several unknown people that the seller assumed was family. As it turned out the unknown people were actully buyers looking to buy a home. The original buyers were trying to sell the home for a higher price to other buyers before submitting the deposit. The new buyers did not bite and as a result the deposit never did arrive and of course the deal collasped.
Homes Not Researched Properly
In a transaction without the involvement of real estate agents, a woman purchased a home in Calgary's Mckenzie Town district. After she moved in she found out her garage was in breach of the restrictive covenant registered on title. The previous owner built the garage in the wrong location on the lot. The Real Property Report (RPR) showed compliance with the city requirements but it didn't take into account the Restrictive Covenant on title. The purchaser did not buy title insurance and was now on the hook to move the garage. This resulted in the buyer suing the sellers.
Poorly Written Contract
This one homeowner had an accepted offer with an inspection condtition. The buyers inspector discovered a number of issues with the house that the buyers wanted repaired or replaced before possession day. The buyers agent wrote an amendment with clear instructions on which repairs were required to be completed. The amendment also stated that if the repairs were not done to the buyers satisfaction the buyers lawyer would hold back 10,000. On closing the buyers claimed the workmanship was not to their liking and exercised their right to hold back the money even
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