Mortgage Delayed on Closing Day? Risks for Ontario Homebuyers

Description: What happens if your mortgage financing isn’t ready on closing day? Missing your real estate closing date in Ontario can put your deposit at risk and lead to further financial consequences.

Commercial and residential real estate lawyer Jason Lane explains what “time is of the essence” means in an Agreement of Purchase and Sale and why buyers shouldn’t assume a closing extension is guaranteed.

For legal support with real estate purchases, contact Jason Lane at jason@durhamlawyer.ca or 289-220-3241.

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Disclaimer: This video is not legal advice. Consult with a qualified legal professional for advice tailored to your circumstances. Close description