HomeBuyer.ca
Homepage Associated Sites Newsletter Our Books Contact Us Sitemap
Homebuyer Homepage
 
PUBLIC SEMINARS
Buying Vacation Property for Pleasure and Profit
Making Money in Real Estate Investing
ARTICLES
WORKSHEETS
Checklists (4)
Charts (2)
Forms (7)
HELPFUL INFO
Glossary
Faq
Useful Links
Financial Calculators
Landlord/Tenant Legislation
Condo Legislation
New Home Warranty Programs
Stats, Surveys, Reports
OUR SERVICES
Consulting
Seminars
Media Interviews
Education
OUR PRODUCTS
Books
ABOUT US
About Us
Our Books
Clients
Testimonials
Douglas Gray, B.A., LL.B.
Services Provided
Associated Sites
DOUGLAS GRAY, B.A., LL.B.
Douglas Gray, B.A., LL.B.
ASSOCIATED SITES
Small Business
Will/Estate Planning
Retirement Planning
Snowbird Lifestyle
WHISTLER CHALET
Whistler Chalet

Visit

LEGAL PITFALLS TO AVOID WHEN BUYING REAL ESTATE

Our Latest Book

Voidable Contracts
If one of the parties has been induced into entering the contract on the basis of misrepresentation, whether innocent, negligent or fraudulent, that party may be entitled to void the contract. If the misrepresentation was innocent, generally only the contract can be cancelled and any money returned, and no damages can be recovered in court. If there is negligent or fraudulent misrepresentation, however, not only can the contract be cancelled, but damages can also be recovered in court. For example, if the vendor was going to provide vendor-back financing and relied on representations of the purchaser concerning his creditworthiness and ability to pay, and prior to completion of the transaction (by doing a credit check and/or other investigation) the vendor finds out that the purchaser is a terrible credit risk, then that could be deemed to be negligent or fraudulent misrepresentation. For that reason the contract could be cancelled. To give another example, if the purchaser finds out before completion that the representation of the vendor or the vendor’s agent is grossly untrue (e.g., that zoning has been approved for subdivision purposes, and investigation shows that no application has been made for subdivision purposes), then the purchaser could get out of the contract and sue to recover damages, if any can be proven.

These are just some illustrations of the types of factors that could impact on the validity or enforceability of the contract. You can see how competent legal advice in advance from a skilled real estate lawyer is necessary to minimize potential problems.

MORE HELPFUL INFO FOR YOUR RESEARCH !

To help your research and save you time and hassle, check out our free checklists and forms on our "Worksheet" section, as well as the stats, surveys, and reports, useful links, etc, on our "Helpful Info" section, both shown on the index on your left.

Copyright © 2024 , Douglas Gray, LL.B. All rights reserved. Any reproduction of the material contained in this website is strictly prohibited. E&OE (Errors and Omissions Excepted). Please refer to Copyright and Disclaimer at bottom of website page. Refer to Books section for related information.

 

    back to top >>
FREE NEWSLETTER s
» Homepage  » About Us  » Clients  » Testimonials  » Education  » Disclaimer  » Privacy Policy
Medora - Vancouver Web Designer Copyright  © 2024, Canadian Enterprise Group Inc. All Rights Reserved.