How about this Scenario:

Say the buyer you signed an instalment sale contract with decides down the road that you have screwed him (for whatever reason real or imagined). Let’s say he is totally unreasonable and forces you to go to court to get him out. He trashes the place before he leaves doing $10,000 damage. What is your recourse?

Under the lease, I would document the damage, and the lost lease. Then I have another hearing with the Rentalsman (I already had one to evict him) and get a judgement. I would register this judgement with the Court of Queen’s Bench, do a little paper work, and I would then be able to legally start garnishing his wages to get my money. Total cost of doing this would be probably 6 to 8 hours of time, and about $100 bucks. I am also at least familiar with the process from my experience as a Landlord.

Under the instalment sale contract, what would your recourse be? I am assuming you could go to court and get a judgement and do the same thing, (perhaps even small claims court?). How much would that cost? How long would that take? Courts in Saskatchewan are pretty backed up, and I assume they are in Ontario as well.

I realise this kind of nightmare scenario is not likely, but the possibility does indeed exist so you should be prepared for it. You know the old saying “Hope for the best, and plan for the worst”