Tarion Agreement Purchase Sale

On January 15, the seller`s lawyer requested an additional one-day extension to allow the lender to finalize the valuation. The seller agreed to close no later than January 17. On that day, the buyer was still not in the funds and was unable to complete the transaction. The seller refused to extend the closure and declared the buyer in violation. In the current circumstances, my client hereby declares that your client is in breach of the purchase and sale agreement, considers that the purchase and sale agreement is terminated and considers that the deposit paid is cancelled. It is my client who intends to put the property back up for sale. In particular, the applicant found that the extension agreements concluded by the parties (by a lawyer) were not agreements in the context of the addition of Tarion and did not replace it, since (a) they were not formalised as amendments to the GSP in accordance with Section 4 of the De Tarion addition and (b) were annulled by Mr Ingarra, who submitted the application. When buying condominiums, you often see an „intermediate occupancy date“ that can also be temporary or fixed. This differs from the closing date, as it is quite common for condominiums to be ready to move in well before the seller can transfer ownership. In this case, the buyer pays the occupancy rent until the closing date.