Experienced Toronto Real Estate Litigation Lawyers
Real estate purchases and sales involve large sums of money and precise timing. As a result, this is a prime area for disputes to arise. Both parties to a transaction must fulfil several obligations leading up to, and after closing. If one party fails to uphold their end of a deal in some respect, litigation will often follow.
GLG LLP represents both buyers and sellers, as well as lessors and lessees, in commercial and residential disputes. The firm’s lawyers have extensive experience in all aspects of real estate law and have represented clients on a wide range of issues in court.
Transactional Lawyers and Litigators Working Together
Many real estate practices will represent a client up until the point where an issue proceeds to litigation, at which point they will be forced to refer the client to another firm. GLG LLP has both transactional lawyers and litigators in the same firm, allowing them to see a matter through to resolution. The lawyers will collaborate, sharing resources and knowledge of a file, which saves clients time and money.
Common Real Estate Issues Leading to Litigation
Failure to Close
Both sides of a real estate transaction must work diligently to ensure they have met all of their obligations prior to closing. If one party is ready, willing, and able to complete a closing as scheduled and the other is not, it can create the potential for costly delays. In some cases, this will lead to a lengthy court proceeding. Residential real estate transactions involve additional parties, as it is common for people to purchase and sell simultaneously. If a deal fails to close, it may affect more than just the deal in question.
On the purchaser’s side, the most common reason a deal will fail is the purchaser’s inability to secure closing funds. In today’s competitive real estate market, it is not uncommon for parties to enter into an Agreement of Purchase and Sale without conditions. This includes the condition of securing adequate financing. If the buyer is unable to secure financing by closing, they will open themselves up to potential legal action.
On the seller’s side, a failure to close will usually arise from an inability to fulfil a necessary condition prior to the closing date. This may relate to an inability to complete repairs warranted in the Agreement of Purchase and Sale, or a failure to provide clear title.
Issues Arising After Closing
Once a transaction is complete, previously undiscovered issues may arise with the property. If a purchaser discovers expensive defects that the seller failed to disclose, they may bring an action for misrepresentation.
Contact GLG LLP for Real Estate Litigation Advice and Representation
Whether a matter involves a commercial lease dispute, or a purchase or sale, the lawyers at GLG LLP will work with their clients to protect their interests in court. Contact GLG LLP in downtown Toronto for assistance with any real estate litigation matter. Call the firm at 416-272-7557 or contact them online to schedule a confidential consultation.