The real estate market is rapidly changing as a result of the
current COVID-19 pandemic. Consideration of potential disruptions
that may be caused by the pandemic should be made for any new
property contracts entered into.
For buyers or sellers who have entered into contracts for the
sale and purchase of land, the uncertainty caused by the COVID-19
pandemic and government responses has raised questions regarding
the ability of the parties to comply with their contractual
obligations and to complete contracts.
It is important the terms of each individual contract are
reviewed, especially if the settlement date on your contract is
within the next six months, or if you have any concerns about your
or another party's ability to complete. Below are a number of
matters that both sellers and buyers should consider.
