Realities of Litigation in a Shifting Real Estate Market | Episode 57

Meet Sara Erskine (wehlitigation.com), Commercial Litigator and Founding Partner at Weintraub Erskine Huang LLP Sara has appeared as counsel before all levels of court in Ontario and the Supreme Court of Canada. In today's episode, Sara sheds light on the realities of litigation in our constantly shifting real estate market. Has your real estate transaction not closed- and you plan to hire a litigation lawyer to commence a court action? Sara goes through many factors to consider, including costs, available remedies, mutual releases and how courts work. Agenda for today's episode: Shifting real estate market leads to buyer remorse leading to breach of contract What do buyers and buyer agents need to be aware of in this market? How have the courts ruled in recent buyer remorse cases? Is failure to deliver a Deposit a breach or effectively a “cooling off period”? In addition to the delta (difference in purchase price) what damages might the buyer be responsible for? What are the expected costs when going to court? Expected timelines? What questions should the sellers be asking a litigation lawyer before deciding who to work with? What is an anticipatory breach? Is there anything that the seller can do to protect themselves when an anticipatory breach occurs? What should the agent do? What are the steps when seller is contemplating legal action against buyer? Why is there a duty to mitigate damages? Should a Seller sign a mutual release in order to get the Deposit? Should a Seller sign in a mutual release in order to put the property back on the market? Is a Seller entitled to recover damages in addition to the Deposit? What level of involvement should the realtor have in their clients' litigation matter? ____________________________________________________________ Join us as we explore the ins and outs of the real estate market, and dive deep to understand the issues affecting buyers, sellers, investors and businesses. If you love real estate as much as we do, sit back, relax and gain an insider's edge to the exciting world of real estate. David Gorski is a broker and the owner of Sutton Summit Realty—a boutique brokerage providing guidance to over 230 realtors, and David Korman is a partner at Kormans LLP—a boutique law firm focusing on residential and commercial real estate transactions STAY CONNECTED: 🔗 Get a free consultation: https://linktr.ee/KormansLLP ✔ INSTAGRAM: https://www.instagram.com/kormansllp/ ✔ TIKTOK: https://www.tiktok.com/@kormansllp ✔ TWITTER: https://twitter.com/kormansllp ✔ FACEBOOK: https://www.facebook.com/kormansLLP ✔ LINKEDIN: https://ca.linkedin.com/company/kormansllp