#THECLOSERSDAILY : EPISODE 135: PUNISHMENT

I'm Justin Konikow and welcome to episode 135 of The Closers Daily. Just wrapping up our broker's open at 333 Queens, at the corner of Queens and Waterloo. Awesome property if anybody's looking for a commercial leasing space for their business or anybody they know. Hit us up, we'd love to show it to ya. This one's about buyers walking away from deals. So, a lot of people, if you've been following the news, with the dip of the market in Toronto, and there was was a dip in the market in BC. You know, buyers that had deposits on properties were just walking away from firm contracts. And there was actually a buyer in BC that was just ordered to pay $350,000, I think, 360, to a seller, because that seller put their house back on the market and ended up selling it for less money the second time around. So there are massive risks to walking away from a firm contract. Some people are out there saying, "Oh, you just lose your deposit." That's not the case. You can be actually sued for damages, so be very careful about the decisions you make, make sure you talk to a good agent and talk to a good lawyer before you get yourself into hot water.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”