No Return Policy

Effective Date: March, 2025

1. General Policy

At Coldwell Banker R.M.R. Real Estate, Brokerage, Gerald Lawrence, REALTOR®, we take pride in providing professional real estate services to buyers and sellers in the Greater Toronto Area. Due to the nature of real estate transactions, all sales are considered final once they become firm. As such, there are no returns, cancellations, or refunds beyond the conditions outlined in the agreement of purchase and sale.

2. Conditional Period for Buyers

For buyers, real estate transactions often include a conditional period as outlined in the agreement of purchase and sale. During this period, buyers may conduct inspections, secure financing, or meet other conditions necessary for the transaction to proceed. If any condition is not met within the specified timeframe, the buyer may be able to walk away from the transaction without penalty, provided this is done in accordance with the agreement terms.

3. Firm Transactions

Once all conditions have been satisfied, waived, or removed, the transaction becomes firm. At this stage, neither the buyer nor the seller can unilaterally cancel the agreement. No returns or cancellations are possible unless both parties mutually agree in writing to a release, which may or may not involve financial penalties.

4. Mutual Release & Penalties

If both parties agree in writing to cancel a firm transaction, a mutual release must be signed by both the buyer and seller. Depending on the terms of the agreement and the stage of the transaction, financial penalties or forfeiture of deposits may apply. Any such penalties will be determined based on the terms negotiated between the parties and their respective legal representatives.

5. Legal Implications

Real estate transactions are legally binding contracts. It is highly recommended that all parties review agreements carefully and consult with their real estate professionals or legal advisors before entering into a transaction. Understanding your obligations before committing ensures a smooth process and prevents unintended financial or legal consequences.

6. Contact Information

For further inquiries about our No Return Policy, please contact us:

Gerald Lawrence, REALTOR®
Greater Toronto Area, Ontario, Canada
🌐 www.GeraldLawrence.Realtor