Case Overview: This case involves a breach of an Agreement of Purchase and Sale (APS) for a newly constructed townhouse condominium in Toronto. The seller, 400 East Mall GP Inc., terminated the APS after the buyer, Olanrewaju Omololu, failed to close the transaction.

Previous Proceedings: In 2022, Justice Myers found the buyer in breach and granted the seller possession of the property. This reference hearing was assigned to calculate damages due to the breach.

Damages Calculation:

1. Loss of Bargain: The primary damage claimed was the difference between the agreed purchase price ($760,973.45 excluding HST) and the resale price ($637,168.14). The court awarded $123,805.31 for this loss.
2. Consequential Damages: Additional costs related to carrying and resale expenses, totaling $47,275.61, were awarded. These included property taxes, financing costs, legal fees, and cleaning charges.

Total Damages: After deducting the buyer's forfeited deposit of $73,245, the court ordered a total payment of $97,835.92.

Legal Principles: The court applied the principle that damages should place the non-breaching party in the position they would have been if the contract was fulfilled, accounting for both direct and consequential damages.

Costs: No costs were awarded to either party, as the outcome was mixed, falling between the amounts proposed by both sides.