Can you avoid a condominium agreement of purchase and sale using the Status Certificate condition when nothing is obviously wrong with it?
posted 3 years ago
Here's what the contract indicates:
This offer is conditional upon the Buyer obtaining an existing Status Certificate from the seller at Seller's expense within Ten banking days from acceptance of this offer and this offer is conditional upon the buyer finding the aforesaid certificate to his/her satisfaction, in his/her sole discretion, within Three banking days after receiving same, otherwise, this offer shall become null and void and the deposit shall be returned to the Buyer without interest or deduction. This condition is included for the benefit of the Buyer and may be waived at his sole option.
Upon the Status Certificate was reviewed by my lawyer, he suggested adding a few other clauses to protect me (the buyer) from some unexpected circumstances. The seller would normally have no reason to reject them. If the seller does not agree with those additional clauses, what leverages do I have? Can I threaten to void the contract using the above condition? I live in Ontario, Canada.