Depending on the economy, the questions I am asked about the legalities of buying a condo vary from how to make an offer in a bidding war to questions about the operating expenses which go to the heart of condo living. But more recently, I have been asked many questions about the buyer's liability in the event that the buyer is suddenly unemployed and is facing an immanent closing on a unit that seemed perfect on paper two years ago.
On 25th February 2009, I was interviewed by Kim Parlee on BNN's program "The Close". I discuss the vendor's right to specific performance on a contract, the difference between Power of Sale and Foreclosure proceedings and how I break down the condo market into three categories.
Follow the attached link to see the interview and remember that the best buyer is an informed buyer.
http://watch.bnn.ca/ymm-new-real-estate-reality/clip143748#clip143748