Court orders Canadian homebuyer to forfeit $70,000 deposit and pay $35,000
Detailed summary
A Canadian court has ordered a homebuyer to forfeit her $70,000 deposit after she failed to complete a $1.388 million property purchase in Vaughan, Ontario. Reesa Garber had agreed to buy the property from Sharon and Alexander Laraia, with the transaction scheduled to close on July 16, 2024. However, after waiving the financing condition, she later told the sellers that she could not secure the mortgage needed to complete the purchase.She also asked them to terminate the agreement and relist the property to limit potential losses.
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