What could backing out of a real estate transaction cost you? Well, with the new buyer’s right of rescission, cases such as the one covered in today’s video will hopefully be a thing of the past, however it will not absolve you as a seller from potentially having to sue for the cooling off period fee should the buyer be unable or unwilling to close.
In this video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty discusses a recent article about how one BC couple elected not to complete on the purchase of their real estate transaction and how that cost them close to $1,000,000.
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.
