TEK Tower (30 Francis) | 45 fl | U/C

[panamaniac]

I would not expect the developer to allow buyers to walk away from their deposits. Maybe one could negotiate a settlement but the contract doesn't just allow one to not close.

The Toronto case, these are companies planning to do rentals, that are buying all available units in buildings that are mostly unsold. Again, don't know whether they are doing some kind of a settlement with people who are unable/unwilling to close.

I've never heard of a case where the deposit was returned, unless it was the developer who refused to close the deal.