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The IFP - Halton Hills | Thursday, July 14, 2022 | 18 theifp.ca Real Estate Deposits ASK THE PROFESSIONAL We work What happens if the purct of my home is unable to close the transaction? A for you. Hersons: We are now in a time of dramatically falling LAW FIRM house prices which is very disturbing to someone who purchased a home in February, 2022, closing in July. We are finding major problems with banks financing the transaction and the misconception that you can only lose your deposit. I will give you an example that we are seeing right now in our real estate practice. Client’s buy a house competing with 20 other buyers and reach a firm binding agreement to buy a $1.3 million property in February with a BB OPINION PLEASE KEEP OUR DOG PARK CLEAN OK. I can't stand it any- more. The Town of Halton Hills has just built a beauti- ful dog park on Trafalgar dogs. Tall dogs. Your dog. My dog. Responsible dog owners pick up their dog's poop. But some don't: the idiot (nincompoop), person who doesn't care (party pooper), or the just too tired (pooped out). Now, some folks just might miss their dog's busi- ness, not paying attention. As a result, the park is a mess. Three months ago, I took two green garbage bags and a shovel. I filled them up from less than half the park. Upon my most re- cent visit, the park was wo! When a golfer is ap- proaching the green witha shot, a hole is often left in the turf. It's called a ball mark; it is the maker's re- sponsibility to repair it. inexperienced golfers do not repair their marks. Hence, the fol- ravine piece of etiquette: repair your mark and an- other. All experienced golf- ers follow this tradition. I submit that if we treat the dog park like a golf green, it will soon be more enjoyable for all. In other words, if your dog poops, then pick up that one and another. If you don't see your dog poop, then pick up some- body else's. Let's call it 'The Stoop and Scoop the Poop Challenge’. The idea is to make the park a place where we can all enjoy the outing. users, you need to give a crap, if your dog does. DON ABLETT HALTON HILLS We recognize that diversity is the strength of our communities and we are inviting you to share your voice in our publications. David J. Ashbee Helsons LLP is a firm of 10 Lawyers. We trace our firm back to 1885 in Georgetown, Ontario Frederick A. Helson (1921-2018) Allan W. Kogon (retired) David J. Ashbee John E. Schaljo Mark T. Rush Steven D. Kogon Caley E. Power Jessica A. Krause Jasmine M. Spudic Nicole E. Kucherenko Fiona A. Japaul Alex G. Walsh Nancy L. Carnwath (retired) $50,000.00 deposit closing in July. Here is what can happen. The bank that committed to lend you $1 million realizes the value of the house after obtaining their appraisal, now is under $1 million and backs out of their commitment. The banks always have a way out. Client’s regularly think they are only in jeopardy for the deposit. This is not true. When you back out of the $1.3 million deal and the sellers scramble to sell in today’s market at the present value of $1 million you are held liable for the loss of $300,000.00 not just the deposit. Helsons LLP Barristers and Solicitors 132 Mill Street, Georgetown, Ontario L7G 2C6 Tel: (905) 877-5200 35 Mill Street East, Acton, Ontario L7J 1H1 Tel: (519) 929-9333 Email: info@helsons.ca ye 7 Web: www.helsons.ca READERS’ DIAMOND Waa Pears RRO (gk HALTON HILLS 9 / READERS’ Chamber of Commerce 2018 Large Business of the Year The advice offered in this column is intended for informational purposes only. Use of this column is not intended to replace or substitute an professional advice. ¥y professional, financial, medical, legal, or other Scan to Download and read your FREE copy today! Inside are all the ingredients a-kind New Hamburg * SH Nbe.. INDEPENDENT ca SPECIAL DIGIT, ISSUE -