Ontario couple files $2.2M lawsuit over beach house being swallowed by Lake Huron

[dirtyharry555]

https://www.cbc.ca/news/canada/london/lake-huron-erosion-1.6736385

the vendor disclosed just three days before their deal closed that the building with "breathtaking million-dollar views" was unsafe for human habitation.

The couple bought the four-season lakeside house perched atop the bluff, north of Bayfield in the municipality of Central Huron, for $330,000 on May 21, 2021.

once they discovered the house was unsafe, they felt they couldn't back out of the deal — for risk of forfeiting their $5,000 deposit and face a possible lawsuit over the scuttled transaction.

 

[Ref]

I would have pulled out (insert Terb humor here). $5,000 is a lot less to worry about than the shit show they have and will go through.

 

[SchlongConery]

I would have pulled out (insert Terb humor here). $5,000 is a lot less to worry about than the shit show they have and will go through.

I'd agree that would have been the least expensive decision. But fwiw, you'd not be limited to your deposit if the other party has suffered damages in excess of the amount of the deposit. But it also goes the other way. The buyer could sue the vendor if they could prove they lost another deal or otherwise suffered some damages as a result of the timing of disclosure.