What Happens When You Back Out of a Real Estate Deal?
Posted on Jan 09, 2025
Can a buyer or seller back out of a real estate deal in Canada? The answer is...complicated.
When a Buyer Backs Out
Say a buyer purchased a home during a hot housing market. As closing day approaches, they realize they’re out of their budget. Or, the mortgage-lender completes their appraisal and refuses to back the full mortgage amount. This could pu...
