Canada's New Crisis: Sellers Who Can't Close

Your deal is firm. Your mortgage is approved. Your movers are booked. Then your seller tells you they can't close — and your deposit is frozen in trust. This is Canada's new real estate crisis — and it's happening more than anyone wants to admit. In today's Canadian real estate market, the risk isn't just buyers who can't close. Sellers are walking away from the closing table — not by choice — because they owe more than the sale can cover. We're talking first mortgages, second mortgages, private lending, CRA debt, liens, discharge penalties, and even rental contracts on furnaces and hot water tanks.In this video, we walk through exactly how a seller can legally be unable to deliver a clean title — even after accepting your offer — and what that means for your deposit, your moving plans, and your family. ✅ Why softening prices and rising carrying costs are creating this perfect storm ✅ The real numbers: owing $780,000 on a $900,000 sale — and still coming up short ✅ What happens to your deposit when the deal collapses in Ontario ✅ Your legal options (damages vs. specific performance) — and why neither is fast or cheap ✅ The due diligence questions your agent should be asking before you go firmWhether you're a first-time home buyer, a move-up buyer, or a real estate investor — this is a risk you cannot afford to ignore in Canada's housing market right now. 📞 Book a call with the Ragona Sisters:https://calendly.com/ragonateam Disclaimer: This video, and all videos on the Ragona Sisters Real Estate & Market Talk channel, are for informational and entertainment purposes only. Not financial or legal advice. 📬 Join the Ragona Sisters Insider Newsletter for exclusive GTA insights:https://ragonasisters.ca/join-the-rag... #CanadianRealEstate, #RealEstate, #HousingMarket, #TorontoRealEstate, #BuyingAHome, #RealEstateTips, #CanadaHousingMarket, #Mortgage, #RealEstateInvesting, #ragonasisters