Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What should a seller do when a buyer backs out?

When a buyer backs out, first check whether they used a valid, still-open condition to do it. If every condition had already been removed and the buyer walked away anyway, talk to your lawyer immediately about the deposit and potential damages, since a dispute that cannot be settled between lawyers is ultimately decided by the Court of King's Bench.

If a valid condition, most often financing or inspection within the usual 7 to 10 business day window, was used, the deposit returns to the buyer and you relist. Do not treat a fallen-through deal as a reflection of your home's value, buyers back out over financing, inspection findings, or their own circumstances far more often than because of a pricing problem.

Get the home back on the market quickly and be transparent with new buyers if they ask why the listing came back. A documented, resolved inspection issue from the first deal is often easier to sell through the second time, since you can show exactly what was found and what was addressed.

Joel Dyck has a plan for exactly this situation, since it happens on a meaningful share of transactions and should never derail your timeline. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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