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Appeal court rules that unconditional offers to buy are binding.

In a recent court case, the Ontario Court of Appeal reinforced that there is no “escape hatch” once you have made an unconditional offer.

An “unconditional” offer is one that is made without conditions, such as the buyer being approved for financing or obtaining a satisfactory building inspection report. The only exception would be if the entire deal has been completely changed by ground-shifting events like the housing burning down before closing.

To read more about the court case click here.

 



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