2 total
The court granted summary judgment to a real estate developer for damages arising from the purchasers' failure to close, finding no duty to mitigate by accepting a vendor take-back mortgage.
The plaintiffs, Rosehaven Homes Limited and Bram-Rose Homes Inc., brought a motion for summary judgment seeking damages for breach of an Agreement of Purchase and Sale (APS) after the defendants failed to close a real estate transaction.
The defendants argued the APS was invalid due to issues like lack of ID verification, unconscionability, wilful blindness, and that the plaintiffs failed to mitigate damages by refusing a vendor take-back mortgage.
The court granted summary judgment in favour of Rosehaven Homes Limited, finding no genuine issues requiring a trial.
The court dismissed the defendants' arguments regarding the APS's validity and mitigation, awarding damages and prejudgment interest to Rosehaven Homes Limited.
Summary judgment granted to vendor for breach of real estate contract; deposit credited against damages.
The defendant breached an Agreement of Purchase and Sale for a residential home.
The plaintiff vendor brought a motion for summary judgment seeking damages for the difference between the contract price and the market value at closing, plus forfeiture of the deposit.
The defendant argued the plaintiff failed to mitigate its damages and that the deposit should be credited against any damages.
The court granted summary judgment, finding no failure to mitigate as the defendant provided no evidence that the loss could have been minimized.
The court also held that the deposit must be credited against the damages, awarding the plaintiff the diminished value less the deposit amount.
