Real Estate Lawyers Markham, Ontario

You may be surprised at how economical using an Axess Law Markham real estate lawyer really is. We keep our flat rate legal fees low by providing only the real estate lawyer services you need. You pay $999.99 and up plus HST to buy a home, or $799.99 and up plus HST to sell a home in Markham (call us for current rates or a quote). You have no extra charges or hidden surprises when you use an Axess Law virtual real estate lawyer in Markham. You pay the same low, flat fees regardless of where you are in Ontario, or if you use our virtual lawyer services or drop by Axess Law’s open law offices in Greater Toronto Area or Ottawa.

You can discuss the service you got with your real estate agent’s brokerage. Your representation agreement sets out the commission rate, and the terms and conditions for the services the agent provided. The brokerage may assign another agent to your listing, if your home hasn’t sold. If your complaint follows a sale, you can try to negotiate a reduced commission rate, or file a civil claim in court to recover the commission cost, plus legal fees.

You can offer whatever your real estate agent can negotiate with the seller’s representative. Five per cent of the offer price is standard, but bidders in multiple offer scenarios may be encouraged to offer 10% or more. Because it’s usually due within 24 hours of your conditions being lifted or waived, the amount you offer needs to be readily accessible.  

Your deposit is not lost money. It goes toward the total down payment when your sale closes. However, a large deposit can disadvantage you if you withdraw from a sale, and the seller insists you forfeit the deposit. Even if you eventually get your deposit back, it may be tied up in court.

To prevent long-term legal headaches, ensure your agreement of purchase and sale is rock solid. Your Axess Law Markham real estate lawyer can review the contract for essential clauses that protect your right to withdraw, preferably by mutual consent.

Condo sales agreements specify the compensation you can expect if a developer cancels a building you have purchased into. Presale agreements of purchase and sale limit the amount purchasers receive to having your deposit returned with interest. 

Whether you get anything beyond that, based on current court decisions, no. While you may have lost other opportunities to buy into already completed buildings while development was underway, that “loss of bargain” damages is not recoverable. 

The Supreme Court of Canada dismissed a 2020 request to appeal an Ontario court decision on cancelled condo development Museum FLTS (Ritchie v Castlepoint Greybrook Sterling Inc., 2020 ONSC 3840). That decision denied loss of bargain compensation to a group of buyers who argued terminating their sales contract, caused them to lose the opportunity to obtain a residential condominium at the price they anticipated.