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A boutique Toronto law firm serving
clients across Canada since 1987

Aug 15, 2017

Did Your Real Estate Deal Fall Through - Second in a Series of Three

The Toronto and GTA real estate market has started to see a decline. Throughout 2016, and early 2017, the GTA residential real estate market was thriving at a remarkable rate. Listings bread multiple offers which in turn led to bidding wars. Home prices were significantly rising with interest rates remaining low and home mortgages readily available. This fueled demand for foreign investors who saw value in our real estate market.

The real estate market in Toronto and in the GTA is changing rapidly; and not for the better. The number of listings has increased. The average time that a listed home stays on the market is increasing. Demand from buyers is down. Supply of homes for sale is up. Bidding wars and multiple offers are the exception; and no longer the rule.

Have you lost money in this real estate market? If you have, you are not alone. But know that there are options available to you. All is not lost. Unfortunately, your real estate agent and your real estate lawyer may not be the best professionals from whom you can seek advice. Not because they are not knowledgeable. They are most certainly very good at what they do. But equally true is the fact that their unique specialty is very likely not dealing with or saving failed home sales or strategizing the various routes available in order to avoid closing an unwanted or unaffordable home purchase (if the law permits). That requires quite a different skill set.

If you are involved in a failed real estate deal, you may need the expert real estate legal representation that Papazian | Heisey | Myers can offer. If your house sale did not close, you may need the expert real estate legal representation that Papazian | Heisey | Myers can offer. If you want to know if you have the legal right to avoid closing on a home that you have purchased, you may need the expert real estate legal representation that Papazian | Heisey | Myers can offer. To speak to a lawyer who knows how to stick handle around a real estate transaction that has soured, contact Papazian Heisey Myers at 416-601-2701.

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Toronto, Ontario, Canada M5H 3T9
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