Real Estate Contract Withdrawal

Summary

In British Columbia, once subjects are removed from a real estate contract, it becomes binding. Failure to pay the deposit by the deadline can lead to legal action for breach of contract. Title transfer usually coincides with payment completion. If funds are delayed, you can arrange for your lawyer to hold the keys until payment is confirmed. Consult a real estate lawyer for specific guidance.

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bc
It looks like you're asking if Joe Palin can back out of a real estate deal after the subjects were removed. In Alberta, once subjects are removed, the contract is typically binding, and backing out might have legal consequences. Would you like more details or have other questions about this process?
in bc
In British Columbia, once subjects are removed from a real estate contract, the agreement becomes binding, similar to Alberta. Here's what you should know:
- The buyer may face legal consequences for withdrawing.
- The seller might pursue legal action for breach of contract.
- Consulting a real estate lawyer for specific advice is recommended.
Do you have any other questions about the process or need further details?
he has until today to pay * deposit. cutting it close
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In both Alberta and British Columbia, once the subjects are removed from a real estate contract, the agreement is typically binding. If the deposit isn't paid by the agreed deadline, the seller may have grounds for legal action due to breach of contract. Consider consulting a real estate lawyer for specific guidance. Is there any other aspect of the process you'd like to know more about?
closing and possession are the same day * pm. what if it takes a day? can I leave the keys with my lawyer to give once the the money comes in? is it confirmed with title ? does title transfer before money
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In Alberta, typically:
- Title transfer usually coincides with the payment completion.
- You can arrange for your lawyer to hold the keys until funds are confirmed.
- Title doesn't transfer before the payment is received.
Would you like more information on any of these points?
they don't have possession until * pm. if the funds are not transfered by then can I tell them to pick up keys from the lawyer. my possession for my new house is on the same day oct *. what if there is a delay? is there typically a lag
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In Alberta, it is common for title transfer and possession to occur once the funds are transferred. If there's a delay, you can ask your lawyer to hold the keys until payment confirmation. It's best to coordinate closely with your lawyer to manage any potential issues.
what can be issues
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In real estate transactions, potential issues can include:
- Delays in fund transfer affecting possession timing.
- Breach of contract if payment deadlines are missed.
- Legal complications from simultaneous possession and title transfer.
- Unexpected delays in title registration.
Consulting a real estate lawyer can help navigate these complexities.
a payday loan company on the website asked if I was planning a consumer proposal or bankruptcy. isn't that illegal
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In Alberta, payday loan companies must adhere to strict regulations, but asking about consumer proposals or bankruptcies isn't inherently illegal. They might be assessing your financial situation. If their practices seem unfair or deceptive, you may consider filing a complaint with the Alberta Consumer Protection Office. Do you have any other questions about this situation?
bc
Case Rating: *
It seems like you're dealing with a couple of different issues here: real estate transactions and concerns about payday loan company practices. Regarding the payday loan company's question about consumer proposals or bankruptcy, it's not illegal for them to ask, but it might be part of their assessment process. If you feel uncomfortable or suspect unfair practices, you can report them to the Alberta Consumer Protection Office.
If you have more questions about either of these topics, feel free to ask!
what if I need a consumer proposal after I answered no? I didn't plan it
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If you need to consider a consumer proposal after initially saying no, it's important to assess your financial situation carefully. Here are some steps to consider:
- Review your debts and income to determine if a consumer proposal is suitable.
- Consult with a licensed insolvency trustee for guidance.
- Understand the implications and benefits of a consumer proposal.
Would you like more detailed information on how to proceed with a consumer proposal?
what loan is for bad credit
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If you're looking for loans with bad credit in Alberta, consider these options:
- Secured Loans: Collateral required, such as a car or home.
- Co-signer Loans: Involve a co-signer with good credit.
- Payday Loans: Short-term, high-interest; be cautious.
- Credit Union Loans: Often more flexible than banks.
Let me know if you need more specific information on any of these options!
line of credit
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A line of credit can be a flexible option for managing finances. In Alberta, it's often provided based on credit history, income, and collateral. It offers revolving credit, meaning you can borrow up to a set limit and pay interest only on the withdrawn amount. Would you like more details on the types or conditions of lines of credit available?
is there a rule about opening credit and loans before a consumer proposal
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In Alberta, opening new credit accounts or loans before a consumer proposal is generally discouraged. Here's why:
- It may affect the terms and negotiations of your proposal.
- Creditors may view it negatively, impacting approval chances.
- Consult a licensed insolvency trustee for personalized advice.
If you have further questions, feel free to ask!
in bc
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In British Columbia, similar principles apply regarding opening new credit accounts or loans before a consumer proposal. It's generally discouraged as it may impact negotiations and creditor perceptions. Consulting a licensed insolvency trustee for specific advice is advisable. Would you like more information on this topic?
how long should I wait after opening credit to file consumer proposal
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In Alberta, there's no specific waiting period after opening credit to file a consumer proposal. However, it's typically recommended to stabilize your financial situation first. Consulting a licensed insolvency trustee can provide personalized advice based on your circumstances. Do you have any other questions about the consumer proposal process?
in bc
Case Rating: *
In British Columbia, similar advice applies regarding the timing of a consumer proposal after opening new credit. There's no set waiting period, but stabilizing your financial situation is wise. Consulting with a licensed insolvency trustee can provide tailored guidance. Do you have any other questions about consumer proposals or related topics?
I applied for a spring financial loan got approved then lost my job and I cannot pay for it in bc
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In British Columbia, if you're unable to pay a loan due to job loss, consider these steps:
- Contact the lender to discuss possible arrangements or deferments.
- Review your financial situation and prioritize essential expenses.
- Consider consulting a licensed insolvency trustee for advice on consumer proposals or bankruptcy.
If you have any more questions or need further assistance, feel free to ask!