Many of the units that Toronto pre-construction buyers bought are now worth less than the purchase price. Appraisals are coming in low, lenders are tightening up, and the gap between contract value and today's market value is often times bigger than the deposit that they put down. So what to you do if you find yourself in this position? Risk getting sued by failing to close, borrow with private lenders at predatory rates, or close and slowly (or quickly) bleed out? Claim bankruptcy? Crawl under a rock? Let's talk about some of the real options in front of you. Not theory. Not wishful thinking. Actual steps people in Toronto are using to get through closing without destroying their credit, losing their deposit, or facing years of litigation.