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Old 01-17-2021, 03:30 PM
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Originally Posted by audrewh View Post
Due to COVID situation and I am not able to sell condo before August 2020, we agreed to postpone the settlement date to Jun 2021. Here are two questions:
1. Can I request the settlement date to be postponed again with the COVID getting worse?
You can always request. The other side may or may not agree to the request. If the other side disagrees, you may need a judge to decide if the postponement is reasonable.

I would like to point out that anybody can sell any property, you just might not be able to sell it for the price you want. If you offer your condo at 20% below market value, it will sell within days. It is possible that it has not sold because of your unreasonable expectations with regards to price.

2. Should those property numbers to be recalculated based on current market value and remaining mortgages?
Since you were the cause of the delay, I would imagine you do whatever is less favourable to you.

3. Do I need legal document from lawyer?
You never need anything from a lawyer. Sometimes though it is prudent to get lawyers involved.

That said, in this case, a legal document to do what exactly?
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